CA(SA) qualification results give stunning boost to transformation in accountancy profession The ongoing quest to grow the number of South Africa’s chartered accountants – and, in particular, the relatively small number of black CAs(SA) – continues to bear fruit. The South African Institute of Chartered Accountants (SAICA) qualifying examination results reflect 3 902 candidates who…
We all know that tax evasion is criminal and that tax avoidance, if it is not a shame, is lawful. But what of tax avoidance? This is an expression coined by Mickey van der Walt, a former Commissioner for Inland Revenue. In principle, tax avoision does not exist. A transaction is either lawful or unlawful…
Dit wil dikwels voorkom asof kommoditeitspryse eenvormig styg. Dit is beslis nie die geval nie, en dit mag belangrike implikasies vir ons almal inhou. Vir dekades het die wêreld baat gevind by China se industralisasie. China se ekonomiese groei het aanleiding gegee tot vinnig stygende lewensstandaarde. Verhoogde fabrieksproduksie het versnelde invoere, van basiese grondstowwe soos…
If we take a look at the well publicised research of Harvard Business School (HBS) and its Profit Success Chain, leaders have to admit that, in business as, people are their most treasured investment. The people in your business determine your success. This is why HBS keeps reminding leaders to create a positive work environment…
It’s poor economy to use bank notes to boil water for tea, not very efficient to boil five litres of water to make only one cup of tea, and certainly not effective to produce a cup of tea, when the customer wants a cool drink. Sometime in the late 1960s, I became fascinated with what…
Why XBRL? The US Securities and Exchange Commission (SEC) (www.sec.gov <http://www.sec.gov/> ) adopted a rule proposal on the 16th of May that makes compulsory the use of eXtensible Business Reporting Language (XBRL) for some regulatory filings within three years (Cummings 2008). Under the proposal, the 500 largest companies will begin filing XBRL attachments with their…
The role of the chairman has been in the spotlight recently as a result of the high profile cases where the part played by management in alleged breeches of competition legislation is under scrutiny. Chairmen have played a leadership role in ensuring that the commitment of their companies to high standards of integrity is not…
IASB CONCLUDES FIRST ANNUAL IMPROVEMENTS PROJECT The International Accounting Standards Board (IASB) has issued Improvements to IFRSs – a collection of amendments to International Financial Reporting Standards (IFRSs). These amendments are the result of conclusions the IASB reached on proposals made in its annual improvements project, which were exposed for comment in October 2007. Unless…
Directors found guilty of anti-competitive behaviour could face up to 10 years in prison, warns Jean Meijer, competition lawyer at commercial law firm Bowman Gilfillan. “These are among several profound implications to emerge from the new Competition Bill.” Meijer says that the Bill creates criminal liability for price fixing, market division and collusive tendering. Thus:…
POST ELECTION VIOLENCE AND THE KENYAN PRACTITIONER The 2007 post election violence that rocked the country during December 2007 and most of January 2008 saw the destruction of many businesses and a mass exodus of people, resulting in a huge number of individuals being displaced. The signing of the peace accord by the government and…