The Accounting Standards Board issued a proposed Interpretation of the Standards of GRAP (IGRAP) on Recognition and Derecognition of Land (ED 139) for comment during December 2015. The comment deadline for ED 139 is 15 June 2016. By Amanda Botha The proposed IGRAP on Recognition and Derecognition of Land (ED 139) notes that ‘various laws…
Two CAs(SA) financed their start-up business, InnoVent, on the strength of a projected break-even within three months. Nine months later they made their first sale, surviving in the interim only by ‘robbing Peter to pay Paul’. By Eamonn Ryan Thirteen years ago, DJ Kumbula CA(SA) and Zakhe Khuzwayo CA(SA) came together with one desk, two…
National Treasury announced further changes to the retirement reform on 18 February 2015 shortly before the effective date of 1 March 2016. These changes provide for the postponement of the annuitisation requirement for provident funds for two years, until 1 March 2018. WITHDRAWAL Should a member resign from employment, they can still access their entire…
I only got to watch The Big Short this weekend. A great movie that hasn’t left me because maybe I’m trying to get to grips with what it is that is unsettling my thoughts and emotions. The Oscar-winning best adapted screenplay movie is based on the non-fiction book with the same name by Michael Lewis…
Being awarded a spot in the Top 10 is a prestigious achievement. SAICA’s Top 10 consists of candidates who achieved a mark of at least 70% (limited to a maximum of ten candidates). In this sitting, six of the Top 10 candidates also achieved honours – meaning they achieved a score of 75% or higher…
It’s about the customer, stupid Great changes shaping investment managers The future of financial reporting for insurance contracts The IFRS 9 ‘hold to collect’ business model It’s about the customer, stupid The impact of FinTech on financial services has yet to be fully felt, but if we think of it as apps and cool technology…
Main Heading: SPECIAL FEATURE: GLOBAL TRENDS SEO: trends; global trends, future, technology; banking; 2016 2016 Ten trends to watch Analytics Trends 2016: The next evolution Global capital markets: Significant changes ahead The future of banking 2016 Ten trends to watch Which trends are set to gain momentum in 2016? A new report from Fjord, a design and…
Finally some positive news … the rand below R15/$ and the ALSI back above the 50k mark. By Garth Saunders It was a month of two halves as oil rebounded 24% into the middle of the month followed by equities, gold and commodity currencies (CAD, AUD and ZAR). The conundrum of high inflation, slow growth…
SAICA’s numerous initiatives to transform the profession by building and accelerating the pipeline of prospective African, coloured and Indian chartered accountants are bearing fruit as results from the first sitting of the 2016 Initial Test of Competence (ITC) examination show. Karin Iten reports In January 2016, 2 561 aspiring chartered accountants (CA(SA)) sat for the first…
If compounding investment returns could be considered the Eighth Wonder of the World, then compounding investment costs can be similarly dramatic: for instance, just a 2% annual increase in return could triple your money over 50 years. The US Securities and Exchange Commission has noted that on a $100 000 portfolio, over 20 years a…