This article highlights the changes to the IAASB standards and SAICA FAQs that will affect auditors and practitioners in 2022 and gives an indication of change on the horizon based on the IAASB’s work plan for 2022−2023. The standards of the International Auditing and Assurance Standards Board (IAASB) continue to evolve. New and revised IAASB…
The ISA 315 (Revised 2019) application material includes scalability considerations which illustrate the application of its requirements to all entities regardless of whether their nature and circumstances are less complex or more complex. This article summarises all the relevant application material for ease of reference. SA 315 (Revised 2019), Identifying and Assessing the Risks of…
In this article, five whys are answered about Exposure Draft, Proposed International Standard on Auditing for Audits of Financial Statements of Less Complex Entities (ED-ISA for LCE) Why is it important? It is recognised that less complex entities (LCEs) make an important contribution to the world economy and account for the great majority of entities…
SURVIVING CHANGE Battles (and change) have been part of life from the beginning: good versus evil, light versus darkness – we are all familiar with battles happening today all over the world. However, there is another battle that is much closer to all of us and one that is applicable to 100% of you reading…
As you welcome your new intake of graduates in 2022, you might realise that the face and expectations of this workforce are changing every year, and it’s not only about the age, but also about their exposure to the pandemic before joining the working class. Zanele Maduna CA(SA) Director at No-Valo Learning Centre According to…
The past two years have brought massive complexity and uncertainty. For many, the focus has been on the short term – on survival. Personally, I’ve experienced one of the most challenging contexts I’ve ever had to work in and lead people through. Brett Tromp CA(SA) CFO of Discovery Health We’ll be dealing with the COVID-19…
One of the most topical discussions in professional and high-net-worth circles today is the question of secondary citizenship and residency. The impact of the COVID-19 lockdowns has highlighted the limitations and risks of been tied to one jurisdiction. It is an emotive debate of whether they should be allowed, and one that often brings up…
In 2020, two CAs(SA) went to the UK in search of adventure and opportunity, not knowing that a pandemic was about to change the world From SA Public Sector to the world People generally move abroad to improve their lifestyle, take on a new challenge, gain new experiences, or progress up the career ladder. It’s…
The COVID-19 pandemic, climate change and other urgent challenges demonstrate the need for greater resilience and sustained development outcomes in Africa’s economies and societies. Simultaneously, addressing existing vulnerabilities and promoting inclusive and resilient growth requires significant investment and expertise The international development sector is helping to deliver real change aligned to the Sustainable Development Goals…
Section 7C of the Income Tax Act is an anti-avoidance provision intended at limiting the tax-free transfer of wealth to trusts via the use of low-interest or interest-free loans, advances, or credit. The section was first introduced in 2016 to target schemes where taxpayers transferred assets to a trust against a loan, advance or credit…