Is it really all doom and gloom? What are the lessons, if any, that we can take from nearly a full year of restrictions on trade? As I write this, we are in the midst of a second wave of the COVID-19 pandemic. Businesses that needed a busy festive season or, alternatively, those that needed…
COVID-19 has been a catalyst for the global adoption of cashless payments, with the disruption expected to effect lasting changes in the way people spend. While consumers had already begun to embrace digital payment options prior to the pandemic, the health crisis has rapidly accelerated the adoption rate with more consumers seeking safer, contact-free payment…
Join the COVID ALERT SA community. Slow the spread of COVID-19. Stay Safe, protect loved ones, your community and all of South Africa. Let’s work together to save lives. The COVID ALERT SA app gives you the power to slow the spread of COVID-19 in South Africa and to keep yourself, your loved ones and…
As South African corporates gradually return to the boardroom, road warriors are longing to take back to the skies and resume business negotiations, build relationships, and discuss new business opportunities. Although business travel is permitted in South Africa, the pandemic has kept everyone on their toes with regulations changing frequently. As consulting firm McKinsey put…
Technology is taking over some routine tax and accounting tasks. This means accountants now need to make the move to trusted business advisors. William Reeb and Dominic Cingoranelli asked an important question in their book Becoming a trusted business advisor: how to add value, improve client loyalty, and increase profits, namely if accountants can name…
Kevin Phillips CA(SA) is CEO of IDU Group As the first wave of the COVID-19 crisis begins to recede and lockdown measures ease, it’s becoming clear that we can no longer expect to “go back to normal”. Just as a flood sometimes permanently changes the course of a river, so the pandemic has shifted the…
Ignatius Sehoole KPMG CEO calls for strengthening of South Africa’s CA pipeline KPMG South Africa CEO Ignatius Sehoole has called for more vigilance than ever in South Africa’s accounting sector, as the Covid-19 crisis poses a unique challenge to the business environment. He calls on the South African Institute of Chartered Accountants (Saica) to aid…
The new normal is redefining the new investment landscape, but is it really that bleak for Africa? There is plenty of cynicism and negativity when it comes to South Africa and investment in its future. The recent downgrade by Moody’s was felt particularly keenly in light of the COVID-19 national lockdown and the inevitable economic…
We are living in unprecedented times, and the COVID-19 pandemic is affecting everyone differently: we are in the same storm but not in the same boa. The lockdown following the outbreak of the COVID-19 pandemic is resulting in significant financial strain. Many employers are unable to pay salaries or have been forced into a position…
The arrival of the novel coronavirus has received much media attention coverage over businesses, vulnerable communities and the economy. This article highlights a few critical aspects of how COVID-19 has impacted CAs-in-training from the perspective of Wits School of Accountancy lecturers. COVID-19 first hit South Africa in March 2020. Wits took the decision to bring…
Alex Granger It may be an understatement to say that we are going through a period of change. But while there is so much negativity around us, there is also the opportunity to work on our future selves. Which is why SAICA invited Dr Alex Granger, one of Africa’s top executive coaches, to speak at…
Like an earthquake, in its wake the COVID-19 crisis will result in aftershocks that will permanently reshape the world. It’s also a defining moment for humanity in which we can look further into the distance to imagine what the world may be like in the coming weeks and months, and perhaps see a turning point…
With a background in financial management and business valuations, I have always been intrigued by ‘strategy’, that thing that ultimately sets a company apart from the next and probably, together with strong leadership, the main driver behind sustained value creation. In a series of interviews, I will be exploring different business leaders’ (all chartered accountants)…
If there is any situation that is going to show your true colours, it’s a crisis. At SAICA we are passionate about helping our members, and we want to arm you with all the information you need to navigate your way through the COVID-19 crisis successfully and with integrity. As part of our ‘Leadership in…
‘Collaboration, community and creativity are our best hopes for the future.’ This is according to Port Elizabeth artist Duncan Stewart, who spoke about developing and enhancing your inherent creativity as a tool to future-proof yourself at SAICA’s ‘Leadership in a Time of Crisis’ webinar series. ‘I suspect it’s a bit of a risk on SAICA’s…
As part of SAICA’s ‘Leadership in a Time of Crisis’ webinar series, Willem van der Post CA(SA), CEO of xTech.Capital, shared some thoughts on what the workplace of the future will look like, especially in a post-coronavirus world. The new normal. It’s all everyone’s talking about. But what exactly does it mean? I’m not a…
As work sites slowly start to reopen, CFOs are optimistic they can keep their customers and employees safe. As COVID-19 restrictions continue to slowly lift in some countries while others remain in lockdown, PwC’s latest COVID-19 CFO Pulse report reveals a sense of optimism among finance leaders about their companies’ ability to reopen safely. Seventy-five…
With companies making use of increased mediums of technology to conduct work-related activities, the emphasis on cybersecurity has intensified. However, while there may be a number of security measures in place, the end-user will always remain the most vulnerable target. Creating a culture of cybersecurity awareness is therefore a key component to help combat cyber…
The modern world is facing a unique and unprecedented time. Lockdown and social distancing measures have been introduced across the globe, with South Africa implementing some of the strictest. The South African government closed most businesses on March 27th in a bid to curb the spread of Covid-19 — a business confidence index has fallen…
At SAICA’s ‘Leadership in a Time of Crisis’ webinar series, Investec’s chief investment strategist, Chris Holdsworth, shared insights on how the pandemic is shaping investment strategie. As if there isn’t enough to worry about during the COVID-19 pandemic, many people have seen their investments tank over the past few weeks. Chris Holdsworth explained how he…
The trends shaping our world of tomorrow are changing rapidly with COVID-19. In this article, the multi-level perspective on societal change model will be used to explain various trends and their potential impact on the economy, politics, technology, society and resources. We are operating in a new, fast-evolving multipolar global landscape in which challenges are…
Lockdown is like standing on the edge of what is known and unknown At the edge, you have options 1. You stand still, hoping that things go “back to normal” or 2. You wait to be rescued; or 3. You embrace the opportunity and boldly find your wings to fly. During Lockdown, there were many…
By Pieter Bensch, Executive Vice-President at Sage Africa & Middle East As an accountant, you have an invaluable role to play in helping your clients survive the COVID-19 outbreak and its economic effects. With the pandemic and the national lockdown battering nearly every company in South Africa, they need your counsel and practical advice more…
We find ourselves in significantly challenging and difficult times: a constantly changing world which is volatile, uncertain, complex and ambiguous. With these uncertain circumstances we all need to rapidly adapt to change. Like many other organisations, SAICA finds itself in the position of having to make some very difficult decisions, particularly about the upcoming SAICA…
The outbreak of the global coronavirus pandemic has demanded an extraordinary response by governments around the world. The fight against the biggest health threat of our time requires of every parliament, organisation, company and individual to respond quickly to this challenge. It cannot be business as usual. The same applies to national audit offices. Not…
As part of SAICA’s Leadership in a time of crisis webinar series, CA(SA) and CFO of Discovery Health, Brett Tromp, shared his thoughts on what good leaders can do in a time of crisis. In good times, a leader’s role is straightforward: keep your company afloat, your staff employed, and your customers satisfied. It’s during…
SAICA hosted a webinar on 6 April 2020 where Annabel Bishop, Chief Economist for Investec Bank Limited South Africa, spoke about the effects of sub-investment grade status and the coronavirus on our country’s already struggling economy. SAICA is offering a ‘Leadership in a time of crisis’ webinar series as part of the Institute’s response to…
While many have hunkered down literally ‘zooming’ across the net attending webinars, conference calls and Pilates classes from the comfort of their homes relatively safe from contracting the SARS-CoV-2 virus, fellow South Africans are facing an even bigger threat from the economic fallout created by the lockdown; the very tool deployed to prevent the spread…
Overview of the disciplinary process All member complaints received by SAICA are referred to the designated officer and allocated to the Legal and Discipline Unit staff for case management. All cases in which SAICA has jurisdiction are prepared for submission to the Professional Conduct Committee (PCC). The PCC is an independent committee chaired by either…
Over five years Michael Lucas, a PhD student in the School of Mechanical Engineering at Wits, has developed a metallised coating that can be added to surfaces in hospitals to make them capable of self-sanitising. Lucas explains that most hospital surfaces are made of stainless steel and plastic and are sites of contamination. By adding…
Achieving mental wellbeing during Covid-19 As part of Saica’s Leadership in a time of crisis webinar series, clinical psychologist Navlika Ratangee spoke about how to achieve mental wellbeing during the Covid-19 crisis. You can still watch this webcast for free here. The South African Institute of Chartered Accountants (Saica) understands that the outbreak of Covid-19…
Ever hear the phrase “Trying to solve for one problem, creates another” Working from home to reduce COVID 19 infection rate has created another – AN ENDLESS WORKING DAY! With the unwinding of Lockdown, most people will still be advised to work from home. Having to sit for more than 8 hours a day in…
COVID-19 crisis points to the need for robust succession plans Institute of Directors in Southern Africa 28 April 2020 Scene of Public indoor with barrier tape .Closing building during coronavirus COVID-19 epidemic concept Although it’s recommended in King IV, succession planning is often neglected because it’s an uncomfortable subject. The COVID-19 crisis should act…
Will the COVID-19 crisis close the wage gap? Internationally, there is a growing trend to reduce executive pay in response to the current COVID-19 crisis. South Africa is following the trend, with several private sector companies voluntarily announcing reductions and donations in executive pay, among them Woolworths, EOH, FirstRand, Vodacom and Sibanye. The South African…
The economic impact of COVID-19 SAICA hosted a webinar on 6 April 2020 where Chief Economist for Investec Bank Limited South Africa, Annabel Bishop, spoke about the effects of Sub-investment grade Status and the Coronavirus on our country’s already struggling economy. The South African Institute of Chartered Accountants (SAICA) is offering a Leadership in a…
Turning crisis into opportunity During lockdown, you may not be able to work in your business, but investor and entrepreneur, York Zucchi, shares expert tips on how you can work on your business Johannesburg, 23 April 2020 – If there’s anyone who knows how tough running your own business is, it’s entrepreneur and investor, York…
Video Series: Tactics to thrive during lockdown, by Dineshrie Pillay CA(SA): This series of videos were created to assist you during lockdown. 1. Bringing routine 2. Time management 3. Staying motivated 4. Regulating sleep patterns 5. Managing your calendar
How to save a company from the impact of COVID-19 By John Evans CA(SA) – RS Advisors Johannesburg, 17 April 2020 – The global outbreak of Coronavirus and the subsequent national lockdown announced by President Ramaphosa in March 2020 have undoubtedly impacted many companies. John Evans from RS Advisors, and a member of the…
Business Rescue: Economic Remedy For Covid-19? By Professor Raj Rajaram The COVID-19 virus has ruthlessly battered the world’s economy and its citizens’ health. The timing of the virus infection and the subsequent lockdown could not have been worse for South Africa. Our economy, already grappling with low GDP growth and high levels of unemployment, suffered…
Practical steps during and after the Covid-19 lockdown for business recovery (and growth) Right now, most owners of small and medium size (“SME”) businesses have been out of business for three weeks. Some have been able to continue paying their employees, their rent, their utility bills, their creditors – others have not. With another two…
Virtual leadership in a crisis – support for leaders Author: Talita Ferreira CA(SA) “Identify what you are feeling and where you are as a leader” As leaders, we are like a contagion. How we show up will impact our teams. #Leadingvirtually is no different. We might be #feelingpressure and dealing with the #crisisplanning one moment…
Coaching Insights In A Time of Uncertainty: What to expect in a lockdown You are able to control that which you are aware of. In this video you will learn about the most common fears relating to a lockdown and how to mentally prepare for it. More Videos by Dineshrie Pillay What to expect in…
SAICA Training Offices and Covid-19 We have received many queries relating to the impact of the Covid-19 lockdown on training offices and the training programme, such as what to do in relation to assessment, providing exposure and tracking core hours, the possibility of extensions or suspensions to contracts and whether SAICA has considered some…
Free Webcast Series: SAICA Leadership in a time of crisis series Webcast # 7: COVID-19 Technical Update (Thursday, 9 April 2020 15h00 – 17h00) Who Should Attend Members, associates and non-members interested in technical developments related to Covid-19. Overview The webcast will provide delegates with updates on the COVID-19 implications on IFRS, tax…
#COVID19: Staying in touch with customers during the pandemic By Selina Bieber, Senior Regional Director for Turkey, MENA and South Africa, GoDaddy This is an uncertain time for South African business owners, but it may offer an opportunity to focus on the factors that are within your control to help steer your way through the…
Could SA by some miracle dodge worst of Covid-19 curse? – Alan Knott-Craig Authors: Linda van Tilburg , Alan Knott-Craig Published: https://www.biznews.com South Africa might just get lucky By Alan Knott-Craig* In February, our country was in bad shape. Our stock market was over-heated. We were heading for a recession. We were heading for…
COVID-19 lockdown: What to do if you are a South African stranded abroad Authored by: Lerato Mahupela, Immigration Specialist at Xpatweb Worldwide travel restrictions are accompanied by various national strategies aimed at limiting the movement of people to prevent transmission of COVID-19. One of the global strategies has been to shutdown major port of entries,…
Practical Tools to help your business get through the crisis: During this time of unprecedented uncertainty, we often fall into a state of fear, panic and despair. As leaders, it is crucial to lead from the front and bring a sense of peace and calmness to those who look to you for guidance. Below I’ve…
Risks emerging from Covid-19 Authored by: Gillian Le Cordeur, IRMSA CEO As we navigate our way through this crisis, that not only South Africa but the entire World is dealing with, The Institute of Risk Management South Africa (IRMSA) Executive Committee has highlighted many risks and opportunities associated with the COVID-19 pandemic. It is of…
The effect of COVID-19 on year-end audits Author: Hayley Barker Hoogwerf , SAICA Project Director: Assurance as author for this article Can year-end audits be postponed till the end of the isolation period, or is it mandatory that they continue even during the quarantine? In answering this question, it is first important to understand the relevant…
The nature of the COVID-2019 pandemic reaches into every sphere of society – political, economic, social, technological, environmental and legal – necessitating careful consideration of the long-term consequences of our decisions in response to the pandemic and requiring alternative futures to be considered. The purpose of this article is to describe four possible alternative futures…
Coronaviruses are a family of viruses that can cause illnesses such as the common cold, severe acute respiratory syndrome (SARS) and Middle East respiratory syndrome (MERS). In 2019, a new coronavirus was identified as the cause of a disease outbreak that originated in the city of Wuhan in China. The virus is now known as…
The JSE ALSI recovered more quickly than the major US and UK indices during the last two crashes. The global economy was already on a fragile footing when a Black Swan appeared in January 2020 in the form of coronavirus disease 2019 (COVID-19). The impact of the disease and the fallout from countermeasures have jolted…
The COVID-19 lockdown currently in place will have an impact on tax-related matters. This includes contact with SARS, returns and payments due to SARS, as well as disputes. It also has an impact on employers and their employees. While a lot of information was available at the time of writing of this article, it is…
COVID-19: Measures to mitigate economic impact In the wake of the COVID-19 pandemic, the President, on Monday 23 March, announced significant and far-reaching measures aimed not only at slowing the spread of the virus, but also at mitigating its effects. In this regard, it has become clear that the pandemic will have an adverse effect…
Risk, Resilience and COVID-19 Opinion by Vanessa Thurlwell of Mondial Risk and Business Consultants and Craig Kent, Head of Risk Management at Aon South Africa. South Africa made it to 5 March 2020 before our first official confirmed case of COVID-19 was announced by Health Minister, Zweli Mkhize. The case load is now rapidly increasing…
Company taxation in the time of COVID-19 lockdown Jared Waters a Principal at Bravura Structured Solutions, highlights the potential complexities that could arise for Corporate South Africa amidst the country’s COVID-19 lockdown period. President Cyril Ramaphosa announced South Africa’s nationwide lockdown for a period of 21 days in an effort to slow down the spread…
Covid-19: Financial and Business Lessons The year 2020 was earmarked to be the ’20-plenty’ year. A year filled with great expectations, abundance, growth, achievement and joy. The outbreak of covid-19 brought those expectations to a sudden halt. It almost feels unreal that a virus can have this significant impact on the entire world. The world…
Covid-19 lockdown and tax and unemployment related matters Authors: Piet Nel and Juanita Steenekamp SAICA The Covid-19 lockdown currently in place will have an impact on tax related matters. This includes contact with SARS, returns and payments due to SARS, as well as disputes. It also has an impact on employers and their employees. Whilst…
Possible tax interventions to mitigate the economic effects of the COVID-19 pandemic in the South African context SAICA made a submission to SARS on 17 March 2020, requesting the Commissioner of SARS to consider various aspects regarding tax compliance due to COVID-19. The Tax Administration Act, 2011 provides for the potential remission of penalties and…
In an effort to mitigate the economic impact of the coronavirus and the 21-day lockdown which President Cyril Ramaphosa announced earlier this week, government has set up an independent relief fund called the Solidarity Response Fund. The aim of the fund is to offer assistance to South Africans affected by the outbreak. Please read the…
SAICA has a dedicated public sector division to support members in the public sector. This page contains all information relating to COVID-19 that impacts the work of members working in or doing business with the public sector. For all other public sector related support, please refer to the Public Sector webpage – Compliance documents…
The JSE ALSI recovered more quickly than the major US and UK indices during the last two crashes. The global economy was already on a fragile footing when a Black Swan appeared in January 2020 in the form of the coronavirus disease 2019 (COVID-19). The impact of the disease and the fallout from countermeasures has…
The Coronavirus is having a significant impact on the global economy as it increasingly disrupts production, supply chains and travel. With that in mind, organisations should consider any potential legal risks and how to protect themselves against them. In January, the World Health Organisation (WHO) announced that the outbreak of the coronavirus was a public…
Fears around the coronavirus (COVID-19) outbreak has spilled into financial markets 9 March 2020: The coronavirus outbreak has rapidly approached global pandemic levels, and given the knock-on effects of the virus on economic growth, the fireworks in markets were inevitable. From sitting at record highs, global markets sold off aggressively during the last week of…