Amanda Botha explains how the application of the principles set out in the proposed International Public Sector Accounting Standard will enhance the credibility of a first-time adopter’s financial statements during its transition to full accrual accounting The International Public Sector Accounting Standards Board (IPSASB) has recently issued a proposed standard, the First-time Adoption of Accrual…
It is important to understand the meaning of “financial distress”, as the requirements of Chapter 6 of the Companies Act 2008 are triggered as soon as a company is in financial distress, writes Johan Erasmus Chapter 6 of the Companies Act 71 of 2008 deals with business rescue. Business rescue is largely self-administered by the…
The South African transfer pricing landscape poses a number of challenges to South African taxpayers engaged in cross-border intercompany transactions. Article by Cornelia Wolff and Michel Verhoosel Over the past years, transfer pricing has been become increasingly important for those companies with cross-border intercompany transactions. It seems that this trend has not come to an…
SAICA Thought Leadership Paper Publication B-BBEE: insightful corporate reporting South Africa has not yet realised the badly needed growth for effective transformation to take place, stating that sustainable and economic transformation can only be attained if Broad-Based Black Economic Empowerment (B-BBEE) receives widespread support from all sectors of business. B-BBEE remains a vital transformation policy…
Some people say that you don’t need a holiday … you need Cape Town. And we tend to agree, especially if you can have that holiday at the world-famous Twelve Apostles Hotel and Spa Imagine this … Just a few minutes from Cape Town, on a picturesque drive along the winding Victoria Road on the…
Ilke Meissner examines the requirements of broad-based employee share plans and their comparison to the proposed terms for shares to be held under trust in terms of the Companies Act The provisions regulating broad-based employee share schemes in the Income Tax Act 58 of 1962 play an important role in encouraging employee participation in companies.1…
In August Paul Druckman will be visiting South Africa for the first time in his capacity as chief executive officer of the International Integrated Reporting Council (IIRC). Leigh Roberts spoke to him Integrated reporting may well be considered de rigeur in South Africa, but things are quickly catching up in the rest of the world.…
A visit to Singita Lebombo Lodge in the Kruger National Park will leave you at a loss for words Singita is the Shangaan word for “place of miracles”. And that is just what it is. Never has a visit to any place left such a great impression on me. The sense of style, the effortlessness,…
Ilse French and Pierre de Villiers have looked into the likely changes in the real estate landscape over the coming years and identified the key trends which, they believe, will have profound implications for real estate investment and development As confidence returns to real estate, the industry faces a number of fundamental shifts that will…
Is the government failing SMEs? The World Bank conducted a survey of 47 745 businesses across 99 countries and discovered that SMEs created 67% of total permanent employment and still create the majority of new jobs. Former Finance Minister Pravin Gordhan pointed out that labour force data show that 70% of private employment is in…