While the internal audit function has undergone significant transformation, the rapid pace of change is set to accelerate in the foreseeable future. Richard Walker, Advisory Director at BDO South Africa, sheds some light on some key industry trends that have emerged and some key areas of transformation we can expect to see defining the sector…
Ntlambi Gulwa CA(SA), the IRBA’s Director Inspections, started her remarkable life journey in the lush landscapes of the Eastern Cape. Hers is a story of perseverance, determination and a deep-rooted commitment to making a difference. Growing up in the small village of Ngcwazi, Ntlambi’s passion for education and her drive to overcome challenges were evident…
With their expertise in financial management, compliance and risk assessment, CAs(SA) like Amanda Zuma play a crucial role in ensuring efficient resource utilisation and improving service delivery. By encouraging disadvantaged students to become chartered accountants, teachers aim to provide them with a clear and attainable career path that can lead to economic stability, personal growth,…
In the July issue of Accountancy SA, Wayne van Zijl CA(SA) submitted that, as with medical professionals, professional accountants may need to take an oath too, because while doctors have a direct impact when it comes to saving people’s lives, accountants’ actions may equally impact the lives and livelihoods of thousands of people.1 Of course,…
In September 2008 the great financial crisis started. In October 2008 Satoshi Nakamoto released a white paper that explained bitcoin and the ledger that uses blockchain technology and the vision for one currency for the world using the Internet of Value. Bitcoin, as opposed to fiat currencies, is a decentralised digital currency that enables instant…
As an accounting technical manager at The Shard (Pty) Limited, Pride Msweli CA(SA) is a qualified chartered accountant with international audit experience. She is very passionate about financial literacy, audit reform and the creation of generational wealth. Founded in 2013, The Shard (Pty) Ltd is a young, experienced and dynamic 100% black-owned consulting firm based…
Cyber insurance has many benefits, but also some limitations that CFOs and accounting departments are not always aware of. Here’s how you can protect yourself more comprehensively. The estimated impact of cybercrime on the South African economy is R2,2 billion per annum. Impersonation crimes, especially, are of huge concern. These fraud instances, where fraudsters assume the identity…
A generation of better-equipped accounting professionals could not only help guide smarter economic choices in the public and private sectors but also serve as a bulwark against corruption. South African students are struggling at university. This is now well documented. Students take more years than average to complete degrees and drop out at high rates.…
‘You don’t have to start your own business to create wealth,’ write PJ Botha CA(SA) and his brother, Geo, presenters of the TV series Welvaartskeppers (wealth creators), in their first book, Word Ryk, Bly Ryk. In their insightful book, the brothers Botha endeavour to teach ordinary South Africans how to make money in a challenging…
Trading stock sold under a contract requiring full or partial payment for ownership to transfer falls under section 24. Section 24 taxes the full amount upfront and grants the taxpayer a debtors’ allowance deduction, resulting in a cash flow basis of taxation. Section 24 was amended to specify that the relief also applies to lay-by…