WIK EN WEEG: ELKE LIEWE DAG IETS ANDERS

Die ekonomie is nie vlak water waarin niks aangaan nie. Elke liewe dag is daar veranderinge, soos ‘n mens sou verwag in diep onstuimige poele van buite af, in die markte, en natuurlik in die politiek. Selfs met ‘n oorlog in Irak, baie hoë oliepryse, ‘n huismark in Amerika wat lyfstraf ondergaan, ‘n kredietskok wat…

GOOD NEWS: AFRICA: CONTINENT OF OPPORTUNITIES

The challenges facing Africa’s political growth and socio-economic development are daunting. Yet over the past few years, there has been increasing evidence showing that Africa’s tide of despair is turning. With eyes set on a vision of an Africa free from poverty, free from conflict and fully integrated into the global economy, governments, businesses, development…

INTRODUCING THE NEW GENERATION

Why the New Generation column? The placement, development and empowerment of the new breed of Chartered Accountant CA(SA) represents a material percentage of employment nationally. It is clear that this generation, with their specific way of dressing, communicating and acting are entering our corporate world and climbing the corporate ladder at a fast pace. Having…

GLOBALISATION

The modern financial leader’s role includes making a strategic contribution to the business. Every financial leader should therefore understand globalisation. The facts, and the fiction. For starters, one should notice that the map of the world has changed. The new map does not have Europe at the centre. The reality is that the four largest…

IS THIS THE END OF THE WORLD AS WE KNOW IT?

In September 2001 the International Accounting Standards Board (IASB) added to its agenda the performance reporting project (later renamed the financial statements presentation project) with the aim of enhancing the usefulness of information presented in the income statement. In April 2004 the US Financial Accounting Standards Board (FASB) joined the IASB in working on this…

LOST IN BEE VALUATION

In the 2003 film Lost in Translation, Bill Murray’s character experienced an acute culture shock when confronted with the differences between American and Japanese culture. This feeling must be shared by financial managers when forced to navigate the jargon surrounding the valuation of Black Economic Empowerment (BEE) transactions. Yet, it is critically important for the…

TECHNICAL: AUDITING

NEW REQUIREMENTS FOR THE AUDIT OF GROUP FINANCIAL STATEMENTS The International Auditing and Assurance Standards Board (IAASB) issued new requirements designed to enhance the quality of audits of group financial statements. International Standard on Auditing (ISA) 600 (Revised and Redrafted) – Special Considerations – The Audit of Group Financial Statements (Including the Work of Component…