A large number of businesses are still using outdated accounting software solutions that were developed using legacy software that was discontinued many years ago. Not only can it compromise one’s business, but it could also pose a massive threat to business executives who recommend this software to their clients. More importantly, it could result in…
What is the difference between a measurable risk and an unmeasurable uncertainty? It was back in 1921 that economist Frank Knight differentiated between these two. Being a supporter of the notion that humans are inherently unpredictable, he distinguished risk from uncertainty. The former you can measure while the latter, you can’t. Investors and the investment…
In February, the Johannesburg Stock Exchange issued its Report Back on Proactive Monitoring of Financial Statements in 2013. Given the need for good corporate governance from our listed companies, whom we invest in, it is pleasing to note that the JSE now addresses its correspondence to companies regarding the outcome of their proactive monitoring process…
Unemployment has been and remains one of the biggest challenges that South Africa faces. A youth wage subsidy has been on the cards for a number of years as a means of resolving this problem to some extent. The Employment Tax Incentive Act 26 of 2013 (the Act), which was promulgated on 18 December 2013…
Many businesses put large amounts of time and money into investing in and managing their hardware and software. This is all fine and well if your business is in IT, but what about if it isn’t? How much money have you invested in technology you don’t understand? How many additional man hours do you expend…
Deductions for donations to schools Donations are an important source of funding for many South African schools, because although parents contribute towards their children’s education, most schools are struggling to operate without additional funding from donors. Added to this, many donors are not aware of the generous tax deduction benefits associated with donations to schools…
With the reform of the company law regime in South Africa through the enactment of the new Companies Act 71 of 2008 (the Companies Act), as well as the regulations to the Companies Act, there has been uncertainty in practice with regard to the transitional status and treatment of shares under the Companies Act, with…
Unexpected business trips to Cape Town can get a bit taxing at times, not to mention the thought of trying to find a place you can call home for a few nights. But with stylish, serene accommodation and the finest modern amenities, the Cape Town Hollow Boutique Hotel will be your ideal base. It is…
A number of issues have been raised, both locally and internationally, in the last few years about appropriate reporting frameworks for government business enterprises (GBEs), the entities listed in Schedules 2, 3B and 3D of the Public Finance Management Act 1 of 1999, as amended (PFMA). Locally, many argue that GBEs should apply the same…
Since its inception in 1998 and the end of the first reporting period in the year 2000, the Employment Equity Act 55 of 1998 (the EE Act) saw 14 annual reporting periods before the recent amendments. The amendments are contained in the Employment Equity Amendment Act 47 of 2013 which was published for general information…