The release of the definitive International Integrated Reporting <IR> Framework in December 2013 has cleared the confusion about what an integrated report actually is and how companies should implement it. Until now many ‘integrated reports’ were anything but except in title, with one survey concluding that only 30% of so-called integrated reports truly made the…
Australia is rich in fossil fuels. Vast reserves of black and brown coal drove the development of coal-fired power stations which have supplied power for many years to Australian industry at comparatively low prices, creating a cost advantage that attracted energy-intensive industries and supported the growth of manufacturing. This story is similar to South Africa’s…
By using earnings per share as a measure of financial performance, do we interpret it appropriately? Pundits in the know and other users of financial statements perhaps not that well informed have been touting earnings per share (EPS) as the holy grail of financial performance for a very long time. The requirement for companies in…
Risk management can feel like going to war: there are threats on the horizon and it could take substantial investments of time, resources and effort to achieve victory. Some of the threats your business will face are bad debts, theft or fraud, loss or theft of data and natural disasters. The good news is your…
Outside the grey stone walls of Oxford University’s Saïd Business School, it was an ordinary damp Friday morning in England. But inside, where I sat listening to Adrian Moorhouse – Olympic gold medallist turned consultant – it was an extraordinary moment. I had just experienced that rare and delightful ‘Ah-ha!’ moment, and I knew then…
SAICA’s National Small and Medium Practices Committee (NSMP) and the Accounting Practices Committee (APC) jointly conducted a survey in order to better serve and understand the financial reporting needs and reporting environment of small and micro entities. The objective of the survey was to solicit views from preparers, auditors, reviewers and advisors/consultants of small and…
Protection of Personal Information Act [B 9D – 2009] Approved by the National Assembly on 20 August 2013, after minor amendments proposed by the National Council of Provinces in 2012, the president signed the Protection of Personal Information Act (PoPI) and it became law on 26 November 2013. The Protection of Personal Information (PoPI) Act…
Stor-Age, the country’s largest and leading self-storage company today, boasts a R1.5 billion property portfolio consisting of 33 properties, comprising 25 trading stores and eight development sites across six cities. As recently as 2006, two of the three CAs(SA) running this unglamorous business were still doing their articles and dreaming of anything but self-storage. CAs(SA)…
Most people try to live a risk-free life. You may view taking risks as reckless and irrational and to be avoided. But unfortunately, life is full of risk. Everything you do involves risk. There are dangers in every type of travel, eating, breathing, working, exercising, etc. Risk is an unavoidable part of your everyday life.…
Evaluating the benefits of integrated sustainable reporting according to the King III Codes of Governance, and what it means for those responsible. The King III Code has brought more clarity and weight to the concept of integrated sustainable reporting, which has been to the benefit of all stakeholders. Those tasked with the responsibility of compiling…