New Zealand took a bold and pioneering step in taking legislative steps to make climate-related disclosure compulsory. By doing so, it has become the first country to introduce a law that will require banks, insurers and investment managers to report the impacts of climate change on their businesses The New Zealand government is specifically targeting…
SAICA embraces the call on the accountancy profession to focus increasingly on people. A people-centric profession will ensure that employees are able to bring their best and authentic selves to the work environment As the world navigates the many changes it faces due to the COVID-19 pandemic, among others, the world of work as we…
The SAICA CPD policy states that all SAICA members and associates are required to: Paragraph 2.2: Undertake relevant continuing professional development (CPD) activities on an annual basis Paragraph 2.1.1(b): Follow an output-based measurement approach to CPD by demonstrating the maintenance and development of relevant competence by generating an annual CPD reflective plan Paragraph 2.1.1(f): Undertake…
In the 1980s, there were essentially three elements to corporate reporting: an income statement, which focused on profitability, a balance sheet that focused on solvency, and a cash flow statement that concentrated on movements in cash and essentially working capital. The associated disclosure, too, was relatively narrow. Notes to the balance sheet provided reconciliations to…
In a series of interviews, I explore the approaches of different business leaders (all chartered accountants) to strategy. This month I was in conversation with RACHEL NKGODI, deputy group chief financial officer at Alexander Forbes During our conversation, Rachel Nkgodi highlighted various important and practical aspects relating to strategy. The practical aspects of strategy Strategy…
These changes can be summarised as follows: Changes to the SAICA Code to align with the amendments made to Section 321: Second Opinions of the IRBA Code The changes include: The incorporation of practical and relevant guidance from Circular 01/2006, Giving Second Opinions (the Circular), issued by the IRBA’s Committee for Auditing Standards in November…
Evolving stakeholder needs The world is grappling with complex challenges such as climate change, the depletion of natural resources, technology disruptions and the impact of global pandemics like COVID-19. Traditionally, corporate reporting has been mainly centred on the financial performance of an entity. This is now evolving as stakeholders are interested in not only the…
After making the tough decision to enter your company into business rescue protection, you are faced with making the most important decision for the business’ future success – who do I appoint as my business rescue practitioner (BRP)? Planning to enter business rescue It is well documented that the key to success in the business…
ANTI-INTIMIDATION IN THE PUBLIC SECTOR In October last year, SAICA focused on ethics and delivered a series of webinars to discuss the ethical challenges currently facing the chartered accountancy and auditing professions and come up with solutions to these challenges During a particular focus on ethics in the Public Sector, SAICA’s Senior Executive for Public…
CORPORATES, DON’T BE CAUGHT OUT BY IFRS 17! Corporates may have contracts that fall within the scope of IFRS 17 and the measurement of insurance contracts and/or structures will be different. Identifying these changes is the first step on the journey of implementation of IFRS 17. There is, however, still time for corporates to catch…