Ordering a forensic audit is like going to court to enforce a contract – both are last-resort actions when something has already gone very badly wrong. The horse is long gone over the hills, and there is bitterness and recrimination as everyone goes about fixing the stable doors. Understanding what, where, when and how things…
“For instance, where members have choice of investments and flexi benefits, they often make inappropriate investment choices.” Poor communications and lack of advice can impoverish retirees Even the most sophisticated retirement planning strategy can have its Achilles heel – and this is usually poor communication. Take the following illustration: Professor Shlomo Bernatzi (UCLA), a leading…
“For the most part, a good hospital plan will serve you fine. That’s your biggest worry generally: “What if I’m in a car accident, have a heart-attack, etc.”” Why comprehensive medical cover may be overkill … While we’re on the topic of reducing ‘unnecessary’ expenditure, I thought I’d tackle the concept of medical cover. Before…
Responsible leadership The SAICA Member Values are: Integrity, Professionalism, Diligence, Accountability and Dedication. Your CA(SA) designation represents the essence of what you stand for as a true business leader. It tells the world that everything you do is filtered through SAICA’s stringent Ethics and Values Code … a part of the formula that sets you…
International Financial Reporting Standards (IFRS) are designed to create a single set of high-quality financial reporting standards. This initiative is intended to provide a central source of information that permits interested parties to chart jurisdictional progress towards the achievement of that goal. The graphic uses lights to show the progress globally. Country Status Version Canada…
It may not be the most visible asset but like the gift that keeps on giving, it is the one that offers the greatest returns. We invest willingly in establishing our own physical and intellectual capacity – yet thereafter few of us take adequate precautions to protect our income earning capacity. Few professionals would fail…
The World Intellectual Property Organisation (WIPO) published a list of the Top 20 countries according to patent applications and patent grants. South Africa ranks 16th among the countries for patents granted, with 5 296 patents granted in 2012. Patents are granted according to the applicant’s country of origin. For example, if a South African applicant…
“In all cases, the real estate owner will need to file with SARS an annual tax return for each period of 12 months, ending on the last day of February in each year.” Meticulous paper work and the right legal is required to meet tax requirements Many non-resident private individuals (and entities) have acquired real…
“Our national budget process, for example, ranked second out of 100 countries for its transparency and openness earlier this year.” In the end, corruption does bring down those who turned a blind eye South Africa, at its best, aims high. We have some remarkably advanced corporate governance standards, especially for an emerging market at the…
“The incorrect classification of a company may affect a range of provisions such as audit requirements, audit committee requirements, number of directors required” In terms of the new Companies Act, your private company may be a public company. In order for companies to ensure compliance with all relevant provisions of the Companies Act, it is…