It’s been called ‘the silent pandemic’: the growing prevalence of mental ill-health, which has been following an upward trajectory since the remote working and social distancing policies that were implemented to keep COVID-19 at bay heightened our sense of anxiety and isolation. Difficult as it was to adapt to these unfamiliar circumstances, the move to…
In a country like South Africa, the term ‘employee benefits’ means so much more than the cost-to-company incurred during that period − it embodies not only today’s food for breadwinners’ families but also the promise of a better tomorrow through the education of our youth, who hold the nation’s dreams and aspirations. It seems that…
To become an international sportsperson and a chartered accountant is beyond the scope of most people’s dreams. Yet that is exactly what Phumelela Mbande CA(SA), goalkeeper and captain of the South African women’s hockey team, has achieved despite countless challenges. Her team competed at the 2020 Tokyo Olympics, where Phumelela had the honour of being…
The advent of Fourth Industrial Revolution (4IR) technologies has presented both clients and auditors with massive opportunities and challenges which, if fully embraced, can completely change the face of the audit experience for both client and auditor. Much has been said about the 4IR and its disruptive impact on many industries, including the accountancy sector.…
In the current economic environment, there are various reasons why small and medium enterprises (SMEs) would require an audit of their annual financial statements. An audit could be required by law in terms of the Companies Act of South Africa, the company’s memorandum of incorporation, the bank during an application for funding, potential investors, or…
The idea of splitting the auditing and non-auditing (consulting/advisory) businesses of firms was mentioned in a report by a United Kingdom Parliamentary Committee following the collapse of Carillion in January 2020. The UK regulator (the Financial Reporting Council, FRC) later asked the largest UK firms to operationally split up their auditing and non-auditing businesses by…
Does the current model of the traditional regulatory and statutory audit still make sense in the changing business context? These audits performed by independent and external auditors in line with relevant laws and regulations, require the auditee to submit a set of reporting information, and the auditor to produce their report annually in line with…
Running your own business is not easy, and certainly not for the faint of heart − especially when it is necessary to implement new requirements. Will there ever be an ideal time? For any business to be successful, it must be managed properly. No matter what goods or services you provide, they must be of…
The voices calling for sustainable business practices across all industries are growing ever louder and the journey towards ‘Net Zero’ will require everyone across the globe to play their part if we are to successfully combat the risks associated with climate change. The world in which the accountancy profession is operating in has significant challenges…
The accounting profession is at one of those key points in time where change is inevitable. With the new International Standards on Quality Management (ISQM) coming into effect on 15 December 2022, we are less than four months away from its effective date. The question is: ‘Are you ready’? The only constant in life is…