A common response to factual insolvency is for a parent company or fellow-subsidiary to provide a so-called ‘letter of comfort’, also known as a ‘letter of support’. The value and benefit of such letters to an auditor (and indeed to the company itself and to its creditors) depend on the specific wording thereof, and in…
In essence, sustainability reporting enables organisations to disclose the environmental, social and governance (ESG) impacts of their activities and the strategies thereon. Sustainability reporting is a relatively new topic in the public sector environment. The Global Reporting Initiative Standards (GRI Standards) describe the objective of sustainability reporting as ‘to provide transparency on how an organisation…
Accountants can be key players in the drive to secure the affordable, reliable, and sustainable energy that is desperately needed in the country. South Africa’s persistent blackouts demand that we mobilise all available resources and incentives to boost energy security. To win, we have no option but to throw the kitchen sink at the energy…
We live in an era in which it is possible to ask an artificial intelligence (AI) chatbot just about anything. The emergence of AI and other digital solutions means that the role of people – particularly accountants – is uncertain. While many would say that people will be replaced entirely by machines, I firmly believe…
Accountants can be key players in the drive to secure the affordable, reliable, and sustainable energy that is desperately needed in the country. South Africa’s persistent blackouts demand that we mobilise all available resources and incentives to boost energy security. To win, we have no option but to throw the kitchen sink at the energy…
When President Cyril Ramaphosa declared and proclaimed the provision of energy as a national disaster in his State of the Nation address, he also requested that the Auditor-General of South Africa (AGSA) monitor the expenditure of the funds allocated to this disaster. We welcome this call by government to provide real-time independent assurance on public…
The Companies and Intellectual Property Commission’s (CIPC) Corporate Compliance and Disclosure Regulation unit, as part of its functions per section 187(3) of the Companies Act 71 of 2008, covered various areas of enforcement during the past few months. These included qualitative reviews of annual financial statements submitted in iXBRL and proactive monitoring and enforcement of…
Imagine having an office in the heart of the equatorial rainforest, surrounded by endless trees and incredibly rich biodiversity, including thousands of western lowland gorillas, chimpanzees, forest elephants, buffaloes, leopards, birds and butterflies. For Elza Gillman CA(SA) and Anneke Lombard CA(SA), it’s all in an exciting day’s work. Elza Gillman and Anneke Lombard became involved…
The exciting future for the internal audit profession has arrived but are we ready to seize the opportunities it brings? The internal audit community has been pondering about what the future of internal audit would look like. Well, in my view, it depends on the nature of the business, the complexity of the business, the…
Redmi Note 12 boasts a stunningly bright and colourful AMOLED screen with an impressive 120Hz refresh rate. Undoubtedly one of the best displays in its category, the 6.67” FHD+ display with DCI-P3 offers a wide colour gamut that enhances the immersive and fluid experience. Whether you are scrolling through social media content or playing popular…