Professor Amanda Dempsey, senior director at the UJ School of Accounting. At the end of December 2023 Professor Amanda Dempsey, senior director at the UJ School of Accounting, will be retiring after a long and impactful academic career. ‘I can truly say I have achieved many wonderful professional milestones and have made a significant impact…
There seems to be an ill-conceived belief that placing a company in business rescue should be delayed for as long as possible. Some quarters may believe that you should never use business rescue as it will result in the business losing customers and supplier support. The 2023 Deloitte South Africa Restructuring Survey1 indicated that early…
There is a vast difference between accounting and personal finances. Contrary to the general perception, some accountants are brilliant at what they do in the workplace managing and reporting on somebody else’s money, but struggle when it comes to managing their own finances. We do not get taught about money management at school or university,…
Investing in the stock market can seem like a daunting task, especially for those who are new to the game. I vividly remember my first investment experience back in 2007 when I was just 17 years old. I invested roughly R3 000 to purchase two Naspers shares, each priced at approximately R1 500. The hard-earned…
Medical aid schemes help people to pay for healthcare needs and medical expenses in exchange for monthly contributions. Sometimes medical schemes in South Africa enter into capitation agreements with another party whereby the medical scheme pays, to such party, a pre-negotiated fixed fee in return for the provision of specified benefits to the members. The…
The Finance Minister delivered his annual budget speech on 22 February 2023, and did not raise taxes. This was expected, given the state of the economy. The budget instead announced R13 billion in tax relief. Through an expansion of the Income Tax Act’s section 12B renewable energy tax incentive, businesses receive R5 billion and individuals…
Doctors ‘play god’ every day as they hold patients’ lives in the palm of their hands. A cut one centimetre too deep or too wide can be the difference between a mother, father, son or daughter going home to their family or not. Accountants can’t compare, or can they? Accountants play a vital role in…
By providing independent oversight and monitoring of the financial reporting process, audit committees can help to identify and mitigate potential areas of risk, prevent financial irregularities or misconduct and decrease the likelihood of corporate failures. As established in the article by Carla Budricks titled ‘Comprehensive regulation of the financial reporting ecosystem’ in the June issue…
Africa’s family businesses need to transform to secure their legacy, and building trust is key to this. Approximately half of Africa’s family-owned businesses believe their customers do not trust them. This key finding from PwC Africa’s Family Business Survey 2023 should be viewed as a notable concern for the continent’s family businesses, many of which…
Tips for protecting your career. Imagine yourself performing excellently at work, and your bosses are extremely pleased with your results. They are so delighted that they asked you to take the lead. You are thrilled because this shows that your career is on track, and you are advancing in your field. Everyone is aware that…