Title: The EU VAT System and the Internal Market Author: Rita de la Feria This thesis focuses upon VAT in the context of the European Community’s internal market. Its central aim is to prove that the current EU VAT system is incompatible with the concept of an internal market, as set out in the EC…
IAASB STAFF ISSUES Q&As TO GUIDE AUDITORS’ EFFECTIVE IMPLEMENTATION OF CLARIFIED ISAs; AND ADDRESSES SME ISSUES To assist auditors worldwide in implementing the clarified International Standards on Auditing (ISAs), the staff of the International Auditing and Assurance Standards Board (IAASB) has developed a new question and answer publication entitled Applying ISAs Proportionately with the Size…
The proposed section 12k of the income tax act no 59 of 1962 Climate change is a natural process through which the earth and its atmosphere accommodate the change in the amount of energy received from the sun. It takes hundreds of years to complete one cycle of this process. The ice age is one…
With the initial storm having subsided slightly, global companies are coming to grips with the fact that exiting the storm is going to take a little longer than anticipated. Local companies are realising that the worst may not be over, and that the aftermath may have damaging consequences. South Africa is seeing the consequences of…
For the past nine months Swiss banking secrecy has been under enormous pressure from the United States, Germany, France and the UK. Some of these countries, indeed, are demanding an automatic information exchange. Others have demanded the abolition of the different treatment of tax evasion and tax fraud by Switzerland. If Switzerland is not co-operative…
I was quite heartened recently to receive a letter from one of our members who was optimistic about both South Africa and the chartered accountancy profession. Mr Guy Addison, a CA(SA) based partly in Cape Town and partly in Dubai on account of business obligations, was responding to an article written by another CA(SA) based…
Thuthuka has made significant progress in the past seven years, according to the people who should know – the trustees of the Thuthuka Bursary Fund (TBF). In June this year, SAICA polled the trustees with a view to assessing whether or not Thuthuka was achieving its objectives and to ascertaining what steps should be taken…
12 IMPROVEMENTS TO STANDARDS ISSUED AS STATEMENTS OF GAAP The Accounting Practices Board (APB) has approved 12 Improvements as Statements of Generally Accepted Accounting Practice (GAAP). The annual improvements project is aimed at making necessary, but non-urgent, amendments to Statements of GAAP that will not be included as part of another major project. The Standards…
2007 was a landmark year for our country. Not only did we win the Rugby World Cup (for a second time), but South Africa was the first and only country to adopt the Exposure Draft of the International Financial Reporting Standard for Small and Medium Entities as South African Generally Accepted Accounting Practice for SMEs…
BMW is normally known for being fast, comfortable and exclusive, so, I was astounded that it would launch a 5 series with a two litre four cylinder engine. A car of this size and weight surely requires at least a 3 litre six cylinder engine to perform effectively, especially on the reef. To my surprise,…