Upfront – Accountancy SA

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SAICA hereby informs staff that the hearing in respect of Mr Tshifhiwa Matodzi, the former chairman of the board of VBS Mutual Bank, was concluded on 19 February 2019. The Disciplinary Committee has ordered the cancellation of Mr Matodzi’s membership from SAICA in terms of SAICA By-law 30.2.

SAICA can also confirm that the part-heard sequestration matter of Mr Andile Ramavhunga, former CEO of VBS Mutual Bank, will proceed in April 2019, the actual date of which will be confirmed in due course. Please visit the SAICA Governance site for more information.
Welsh Gwaza, Senior Executive:
Legal and Governance

]]> STOP Workplace Bullies https://www.accountancysa.org.za/stop-workplace-bullies/ Mon, 04 Mar 2019 05:15:15 +0000 https://www.accountancysa.org.za/?p=13391

Workplace bullies can purposefully ostracise their victim and isolate them from the group or team. In a survey by the Trade Union Congress, referenced in Forbes, 46% of bullied employees reported bullying to have an adverse impact on their work performance and mental health, while nearly 30% per cent noted its detrimental effects on their physical health. One in five people said they’d taken time off work as a result of being bullied and more than one in three left their job due to bullying. This has a direct impact on productivity but beyond the financial implications, Agency Central lists the human costs of workplace bullying to range from increased stress, decreased job satisfaction, and physical health risks such as ulcers and high blood pressure. Gets some tips and advice at kickbully.com.
Source: ICAS Connect

]]> Boost your Career − Speak Up! https://www.accountancysa.org.za/boost-your-career-%e2%88%92-speak-up/ Mon, 04 Mar 2019 05:12:19 +0000 https://www.accountancysa.org.za/?p=13388

Speaking up often takes courage. Most often people fear a negative response to their ideas or, at worst, being ostracised. But if done successfully, it can achieve great things, not only for your company but for your career. In a Forbes article, ‘5 ways to build courage and competence for difficult conversations’, when you do speak up just make sure you do it competently and effectively. Building relationships first helps too, because then people are more inclined to hear you out. Most importantly, use your common sense and get the timing right to explain yourself and be heard.

]]> Evaluating Trust in the Accountancy Profession https://www.accountancysa.org.za/evaluating-trust-in-the-accountancy-profession-2/ Mon, 04 Mar 2019 05:03:15 +0000 https://www.accountancysa.org.za/?p=13326

On behalf of Chartered Accountants Worldwide (CAW), Edelman Intelligence surveyed over one thousand business leaders and key decision-makers across the UK, Ireland, South Africa, Australia and New Zealand to measure their trust in chartered accountants, the accountancy sector and business as a whole. In South Africa 250 respondents were interviewed.

]]> The Budget and Job Creation https://www.accountancysa.org.za/the-budget-and-job-creation/ Fri, 01 Mar 2019 05:09:33 +0000 https://www.accountancysa.org.za/?p=13385

According to the Mail and Guardian, Finance Minister Tito Mboweni said that in the next three-year period, R61,4-billion would be allocated to public employment programmes which are estimated to have created more than four million jobs of varying duration over the past 10 years. Mboweni’s aim is to create a further two million jobs by the end of 2020/21. The clothing and textile competitiveness programme is to receive R600-million and is expected to support 35 500 existing jobs and create 25 000 new jobs over the next three years.

]]> Trillions lost if girls aren’t educated https://www.accountancysa.org.za/trillions-lost-if-girls-arent-educated/ Fri, 01 Mar 2019 05:06:44 +0000 https://www.accountancysa.org.za/?p=13382

Globally 89% of girls complete primary education, but only 77% complete lower secondary education, which in most countries is nine years of schooling. In low-income countries, the numbers drop to below two thirds for primary education, and only one third for lower secondary school. Limited educational opportunities for girls and barriers to completing 12 years of education cost countries between $15 trillion and $30 trillion dollars in lost lifetime productivity and earnings.

]]> Presenting new thinking on the accounting education landscape https://www.accountancysa.org.za/presenting-new-thinking-on-the-accounting-education-landscape/ Fri, 01 Mar 2019 05:02:04 +0000 https://www.accountancysa.org.za/?p=13377 In a world of exponential and continuous change, it has become more critical than ever to ensure that the role and teachings of CAs(SA) remain relevant. That’s why at the most recent Southern African Accounting Association (SAAA) Teaching and Learning in Accountancy conference, SAICA sponsored the prize for the best paper submitted for the conference’s Innovative Teaching Initiative track.

SAICA would like to congratulate Astrid Schmulian and Stephen Coetzee from the University of Pretoria who won the prize for demonstrating how academics can adapt their teaching methods and practices in order to keep abreast of the evolving needs of accounting students at all academic levels.

Says Mandi Olivier, SAICA Senior Executive: Professional Development: ‘The world of teaching is changing. The days where academics could simply lecture from behind a podium while students took down notes are long gone. Today’s academics need to embrace creativity and innovation to disseminate information, impart knowledge and develop skills in our future professionals. We were impressed by the quality of ideas shared by the academics who presented their thoughts on how to innovate in the lecture hall and heartily congratulate the team from the University of Pretoria for its winning submission.’

Image: University of Pretoria team won the prize for best paper at SAAA 2018. From left: Ilse Lubbe (SAAA research liaison), Elmarie Papageorgiou (SAAA president), Stephen Coetzee (University of Pretoria) and Mandi Olivier (SAICA)

]]> What is the most productive day of your week? https://www.accountancysa.org.za/what-is-the-most-productive-day-of-your-week/ Tue, 05 Feb 2019 04:59:55 +0000 https://www.accountancysa.org.za/?p=13323 Debunking the whole ‘Blue Monday’ theory, after studying over 30 million anonymised projects and tasks generated through its software, Redbooth discovered that Monday is indeed one of the best days to get the most done.

Their data revealed that employees completed the most work tasks at the beginning of the week (Monday, followed by Tuesday). The end of the week, typically Friday, served as the least productive day for workers.

]]> China’s Growth Slows https://www.accountancysa.org.za/chinas-growth-slows/ Tue, 05 Feb 2019 04:50:53 +0000 https://www.accountancysa.org.za/?p=13320 China’s economy last year grew at the slowest pace since 1990. Its economy, which contributes about a third of global growth, is on a long-term slowing trajectory as it shifts from the investment-led model of the past while carrying a heavy debt load. However, China’s increase in output was still more than all the goods and services produced in Australia in 2017.

Capital Economics Ltd estimates slower China expansion will shave about 0,2 percentage points off global growth this year compared to 2018, while Citigroup Inc warned in a January 14 note that the China slowdown may ‘blow the global economy off course’.

Still, it’s a key point that observers often refer to: while China may be expanding by its slowest in decades, it is doing so from a much larger base. In 1990 the nominal value for China’s economy was $361 billion.

]]> Billionaires Richer, Poor get Pooperer https://www.accountancysa.org.za/billionaires-richer-poor-get-pooperer/ Tue, 05 Feb 2019 04:48:10 +0000 https://www.accountancysa.org.za/?p=13316 The world’s billionaires are growing $2,5 billion richer every day, while the poorest half of the global population is seeing its net worth decline, reports CNN. Billionaires, who now number a record 2 208, have more wealth than ever before, according to a recent Oxfam International report. Since the global financial crisis a decade ago, the number of billionaires has nearly doubled.

The annual study was released ahead of the yearly World Economic Forum in Davos, Switzerland, which brings together some of the wealthiest and most influential people on earth. The 106-page report is meant to call attention to the growing gap between rich and poor.

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