To be clogged, to be ignored, to be disregarded or to be utilised? Herman Viviers takes a closer look at the tax treatment of capital losses as a result of debt relief between connected persons There are many circumstances under which different types of taxpayers could be classified as connected persons for income tax purposes.…
Tendai White explains how medium-sized firms can make an impact internationally by joining associations or networks With the dominance of the larger firms, and the unstable economy, it can be difficult for South Africa’s medium-sized accountancy firms to thrive and make their presence felt. These medium-sized firms, which fit somewhere in the middle of small…
To be clogged, to be ignored, to be disregarded or to be utilised? Herman Viviers takes a closer look at the tax treatment of capital losses as a result of debt relief between connected persons There are many circumstances under which different types of taxpayers could be classified as connected persons for income tax purposes.…
Does a “clean audit” mean everything is fine? Alexi Colyvas has this to say In recent years there has been a drive for entities to accurately report on performance against predetermined objectives. In the public sector, this has always been a requirement of the Public Finance Management Act (PFMA) and Municipal Finance Management Act (MFMA)…
Jeanine Poggiolini analyses the results of the ASB’s recent post-implementation of GRAP 16 Investment property and GRAP 17 Property, plant and equipment and finds that there was positive support for the standards – but challenges remain Both users and preparers of accounting standards who were consulted during the recent review of asset-related standards supported the…
Audits can be intimidating, but adequate planning can help eliminate audit surprises, say Justin Diedericks and Berna Botha. In this article they highlight the various aspects leadership should consider and drive within their departments/organisations Whether an audit is performed by the Auditor-General of South Africa (AGSA), or any other auditing firm, on-going preparation and planning…
Effective pre-planning and structured corruption incident response is essential to achieving a satisfactory and comprehensive resolution, says Peter Goss The immediate issue that faces the typical public sector chief financial officer or senior manager is what to do when a junior colleague or peer states that he suspects that his supervisor or manager may be…
Accountability is a process to hold parties responsible for their actions. One way is through reporting, writes Mariaan Roos Various definitions or explanations of accountability exist. Two definitions that are specifically relevant to this article are those of Fox and Brown (“a process of holding parties responsible for their actions”)1 and Edwards and Hulme (“the…
Inaccuracies, inconsistencies, delays, as well as security and distribution issues in the financial reporting process, come at a price, says RHYS ROBINSON In today’s global economy organisations are highly dependent on technology and thus the IT systems in which they invest can play a significant role in overall business success. It therefore makes business sense…
The South African transfer pricing landscape poses a number of challenges to South African taxpayers engaged in cross-border intercompany transactions. Article by Cornelia Wolff and Michel Verhoosel Over the past years, transfer pricing has been become increasingly important for those companies with cross-border intercompany transactions. It seems that this trend has not come to an…