After 20 years of debates around insurance accounting, phase II of IFRS 4 will be issued imminently as ‘IFRS 17’. With a likely effective date of 2021, what can we expect? We all know just how much hype there had been around the introduction of IFRS 9, and its far-reaching impact. IFRS 17 is likely…
Sicelo Joja has coined the term ‘3 Cs’ for the skills that are required from chartered accountants globally and gained by local students at SAICA-accredited institutions It is no secret that South African chartered accountants are globally competitive, as evidenced by the World Economic Forum’s Global Competitiveness Report. However, the question arises how globally competitive…
South Africa’s finance professionals are no strangers to change, but the growth of robotic process automation, known as RPA, may make even these seasoned observers sit up and take note. By Kavita Vanmali Robotic software is set to be one of the biggest trends impacting corporate bottom lines and one which will make the job…
The accounting profession will see some shifts this year, with the effects of existing and pending regulatory changes expected to shake up the industry. Justine Combrink delves into seven important focus areas for 2017 At the beginning of every year I sit down and look at what’s coming in the year, what to look out…
An alternative for remuneration not subject to employees’ tax The signing of the Tax Administration Laws Amendment Bill 2016 into law on 11 January 2017 extends the ambit of the provisional tax legislation to include remuneration from an employer who is not registered for employees’ tax. In the global mobility space, it is common practice…
Many of us review our priorities at the start of a new year. As I went through this process, my perspective was informed by Malcolm Gladwell’s book David and Goliath: Underdogs, Misfits, and the Art of Battling Giants. Three thousand years ago, and against all odds, a teenage shepherd boy armed with a pebble, sling…
When Steven Saad began a business from a humble three-bedroomed house he could not have known that one day he would spot Murine Clear Eyes eye drops manufactured at Aspen’s Port Elizabeth plant – on a retail shelf as far away as at Disney World The Aspen pioneer and South African chartered accountant CA(SA) Stephen…
October 2016 saw the global leadership summit One Young World hosted in Ottawa, Canada. Handpicked by Chartered Accountants Worldwide, ambitious and successful entrepreneur Louw Barnardt represented SAICA and South Africa at the summit With beautiful Capitol Hill in the background, the stage began to fill with the superstar world leaders that would address the summit…
The answer to this question is YES and NO, depending on our outlook. YES if we are looking for any kind of short-cut or loophole in attaining our B-BBEE credentials; NO if we are committed to following the rules and implementing initiatives that will meet the legislative objectives. A negative approach to empowerment holds serious…
It is common practice for a trust to acquire assets on a low or interest-free loan account from a natural person. The reason for capitalising the trust by means of a loan account is due to the fact that a newly set up trust will not have capital funding to acquire assets. The value of…