If there’s one thing that the ongoing COVID-19 crisis has proven, it is that the healthcare system in South Africa is in drastic need of major transformation. One of the biggest issues highlighted by the pandemic is the iniquity in access to care, but there are signs that one of the effects of COVID-19 will…
Although South Africans are known to have open hearts, it is primarily the poor living in major townships who benefit from charity drives rather than those living in what Moeletji Mapheto calls ‘the forgotten villages’. Coming from one of those forgotten villages herself, Moeletji set out to remedy this with the establishment of her NGO,…
Ethical leadership in the current South African landscapeThe business ideals of profit and shareholder wealth maximisation cannot be sustainable if ethics are not engrained in the DNA of the business operations. Kwena Maseko sees the dominance of ethics in current leadership discourses as an appreciation of ethics as the cornerstone of organisational leadership. But what…
Buzzwords like automation, mechanisation and digitisation can sound like the end of the human workforce and the loss of personalisation, but they offer a bright and efficient future for the assurance industry Digitisation, automation and transformation. Machine learning, robotics and artificial intelligence (AI). The lexicon of technology buzzwords has become, for many sectors, representative of…
The corporate failures and changes that our profession was faced with of late ushered in a new era for us. We had to adapt and be agile and resilient whether we liked it or not. Some might say it was for the worst; others may just see the light at the end of the tunnel…
Among the many recent and upcoming initiatives to enhance audit quality there is one underdog that could really shift the landscape, but will it be soon enough? Could ISQM 1 be the secret weapon we do not even realise we have? There has been extensive debate lately on how to ‘fix’ audit quality. One must…
Our views in this article are to large extent based on our involvement in high-profile cases involving the prosecution of professional misconduct allegations levelled against auditors Several auditing and accounting scandals in recent years − most notably in relation to African Bank, Steinhoff and Tongaat Hulett − undoubtedly had a negative impact on the reputation…
There is a great need to change the way we approach the assessment of internal controls, which includes how we consider, find solutions and report on limitations and weaknesses in internal controls Those charged with governance have a key role to play in influencing this approach to enhance the manner in which management and assurance…
South Africa has adopted the co-regulation model for ensuring that the independence of the auditor is not impaired. While the legislative regime in the Auditing Profession Act 26 of 2005 (APA) has primacy, the auditor independence provisions contained in the Companies Act 71 of 2008 (Companies Act) play an important role in complementing the legislative…
According to PwC’s 24th Annual Global CEO Survey for 2021, CEOs were ‘extremely concerned’ about the spread of misinformation. At its core, misinformation reflects today’s historically low levels of trust. In order to protect stakeholder trust, boards must take a broader and more holistic approach in identifying and managing risk. One such approach to risk…