Revenue is a crucial figure for all companies in all industries. It is used by management and investors as a key consideration in operating, strategic and investment decisions. Due to this, it is also often the target of financial and accounting fraud. This demonstrates the importance of getting the accounting right Accountants trained under IFRS…
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…
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…
A few small tweaks to our approach to social media use, from both employees and employers, can make a positive difference. While social media platforms are continuously working to refine users’ experiences, the ultimate control lies with a user themselves. Responsible use will make the biggest difference of all. The line between our personal and…
This article hightlights initial research providing a platform to investigate SENS announcements as an important tool to communicate with stakeholders In light of the COVID-19 pandemic, it has been noted that stakeholders require a more reactive and proactive manner of communication to disclose material information and disseminate information to stakeholders timeously. Different reporting avenues can…
The ethical duties and responsibilities discussed in the first article on ethics to the rescue in our previous issue are further unpacked in this article We continue to explore at a very high level the extent of those ethical duties and responsibilities which originate in many provisions of the Companies Act and continue to develop…
In her interview with a fashion and lifestyle South African Magazine, The Gentleman Quarterly (GQ)1, a seasoned economist, and a broadcaster, Refilwe Moloto asks a rather poignant question when she inquired, how do you make yourself indispensable when the entire world’s broke? Moloto was asking this question as she was reflecting on her experience when…
A new global minimum tax is welcomed in Africa, but curbing illicit flows and broadening the tax base would be much more important Africa will likely benefit from the OECD-driven new global tax agreement signed in October by nearly all of the world’s countries, which would set a minimum corporate tax rate of 15% across…
What is clear is that business rescue practitioners are required to always act with a high degree of integrity and honesty. This applies before the commencement of business rescue proceedings, during those proceedings, after the adoption of a business rescue plan, and often after the company is taken out of rescue Given the importance of…