Advice: On strategy – In conversation with Garrick Bowker

Implementing strategy in a family-owned private company In a series of interviews, I explore the approaches of different business leaders (all of them chartered accountants) to strategy. This month I was in conversation with Garrick Bowker, CEO of the Tavcor Motor Group Tavcor is a family-owned private company employing 300 people with dealerships in Port…

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RECOMMEND: Consolidated annual financial statements: A case for government?

With the poor financial position the South African government finds itself in, with low single-digit growth forecasts and spiralling debt, it could very well be left to accountants to help lead an economic recovery process by producing international standards of financial reporting and analysis to promote strategic decisions and allow for greater transparency The appendix…

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RECOMMEND: What do executives really earn from share-based remuneration?

Executives of South African listed companies are increasingly incentivised using share-based remuneration. However, the valuation of share-based remuneration is complex and disclosure thereof in annual reports is often inconsistent – providing an opaque picture of what executives realise from such remuneration Globally, executive remuneration has become a topic of interest to shareholders, regulators, and even…

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RECOMMEND: Global financial reporting agenda set to change

From 2022, the global financial reporting agenda is set to change. How will South African companies be impacted? This change comes as the global standard-setter, the International Accounting Standards Board (IASB), is embarking on its third agenda consultation. Much like the changes which were brought about by the second agenda consultation, the new global financial…

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Tramayne Monaghan’s Ten Cents’ Worth

Move over, number crunchers. Tomorrow’s CAs(SA) are more concerned with adding value than balancing the books, says Tramayne Monaghan. And he should know – as chief innovation officer of Tencent, he’s a living example of this new breed ‘My mother isn’t actually sure what I do,’ Monaghan laughs. That’s not surprising, given that he describes…

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Thuthuka school project jumpstarted young CA(SA)’s career: Lizanne Campbell

The major hurdle that the accounting profession faces, along with other scarce-skill professions, is the low number of learners (just 12%) passing maths with marks above 60%. Despite this, the profession has been successful in sustaining its pipeline thanks, largely, to the efforts of the SAICA’s Thuthuka Education Upliftment Fun. Lizanne Campbell (28) CA(SA), Manager…

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Thato tackles transformation: Thato Tsotetsi

Thato Tsotetsi is forging a dynamic and exciting career while passionately playing her part in re-shaping the South African economic landscape. In 2020, advertising industry history was made when Joe Public United became the largest black-owned independent advertising agency in South Africa. It was a big moment for the members of Ikhamva Lakusasa, a newly…

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Sustainable Development Goal 17 The key in ensuring our profession remains relevant

The key behind ensuring our profession remains relevant As SAICA we have united around the SDGs to deepen the country’s understanding of the challenges, opportunities and dynamics that can be leveraged to accelerate and prioritise the delivery of the SDGs. It should be incumbent on all professionals – not just those in the accountancy profession…

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Driving the professionalisation of the public service: Garth Pretorius

Garth Pretorius believes that 2020 brought about significant introspection not only for himself but for innumerable others. He found himself taking stock of where he was within his career and where he saw himself in the years to come, and ultimately he decided to take the leap and start something of his own. He decided…

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Feature: Contributing to the women in leadership pipeline

It’s International Women’s Day on 8 March 2021, a global day celebrating the achievements of women while highlighting the urgency of realising gender equality. SAICA, as a voice for women empowerment, is creating a platform for leadership development of female members in 2021. Apart from the moral and social case for gender diversity, the business…

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Sustainable Development Goal 13: Tackling the greatest threat to human survival

Tackling the greatest threat to human survival The United Nations paints a grim picture of what may happen if we are unsuccessful in our climate change efforts. With average global temperatures increasing beyond 3 °C (on the current trajectory), every ecosystem will suffer the consequences. Since we all share one planet, these changes threaten our…

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The key to success is ‘intentionality’: Buhle Hanise

One of the first beneficiaries of SAICA Thuthuka Education Upliftment Fund is making her mark in the chartered accountancy profession as well as corporate South Africa and is lifting others as she rises. Buhle Hanise, currently CFO at Chinese automotive company BAIC South Africa and deputy president of African Women Chartered Accountants (AWCA), reflects on…

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SDG 8: Even more important in the light of the COVID-19 pandemic

For vulnerable groups of people in South Africa (mainly the youth, women and South Africans struggling with chronic poverty), job creation, entrepreneurship and sustainable small and medium-sized entities must be the focal point of SDG 8: ‘Promote sustained, inclusive and sustainable economic growth, full and productive employment and decent work for all’. The rapid growth…

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Focusing on the ‘S’ of ESG investing in South Africa: Adam Kajee

CEO, ThembiSA Equity Investment (Pty) Ltd. Focusing on the ‘S’ of ESG investing in SA Crises tend to accelerate trends and in 2020, COVID-19 and the Black Lives Matter movement have certainly propelled environmental, social, and governance (ESG) investing further into the mainstream. ESG-focused assets are growing and the connection between ESG and risk is…

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Manual Rodrigues: Achieving success through compassion

Achieving success through compassion Creativity, resilience, an eye for opportunity and a longing for impact on a community’s quality of life are the driving forces behind SAICA’s 2020 Top 35-under-35 winner, Manual Rodrigues The 34-year-old always wanted to change the world but realised soon enough it’s not about the world as a whole but rather…

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#weFEEDsa

Zahid and Zahida Fakey are both CAs(SA) and far from the typical couple. They have taken a unique journey to find their ultimate purpose in life and today we read about their extraordinary story. Last year, in Level 5 of lockdown, the opportunity to make a difference blatantly presented itself and they courageously launched #weFEEDsa…

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The acceptable theft

Albert Einstein famously said: “The world will not be destroyed by those who do evil, but by those who watch them without doing anything.” So many of us point fingers at the rampant corruption in the public sector, while in in the private sector we don’t think about ourselves and the wrongs we’ve normalised through…

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Ethics: Creating an ethical training environment

Training offices play a critical role in developing future SAICA members and associates. For a long time, the emphasis of the training programme has been on providing an opportunity for trainees to practise and demonstrate technical competence while developing as professionals. The amended training programme competencies in 2016 started to place more emphasis on professional…

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Ethics: Towards better ethical decision-making

Ethical decision-making rooted in the fundamental principles, supported by the decision-making framework known as the conceptual framework, and informed by efforts to address the five sources of bias produces a better result, insulates the decision-maker from questionable conduct, and is superior to an ‘I know best’ approach. There is a school of thought commonly held…

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Ethics: Why character matters

Accounting ethics: Why character matters By Schalk Engelbrecht, Chief Ethics Officer at KPMG South Africa as well as Research Associate with the Centre for Applied Ethics (Stellenbosch University) and an Extraordinary Associate Professor with the School of Accounting Sciences (Northwest University) Johannesburg, 8 September 2020 – We generally assume that a person can be good…

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Ethics: Answering the call to ethical behaviour

SAICA implores those holding SAICA designations to seriously reflect upon their role within the broader context and their responsibilities to uphold the standards of behaviour expected and to consider the consequences not acting ethically or without the required competence and skills Over the past few years, the number of widely publicised corporate scandals alleged to…

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The culture of ethics ‘A few rotten apples do not make the whole basket rotten’ − Mervyn King

In 2018, it was reported that 265 of the then 46 000 members of SAICA had been put through disciplinary proceedings. At the time, the public was particularly aware of the role that chartered accountants (CAs(SA)) had played in various scandals such as the spectacular collapses of Steinhoff and VBS, as well as the role…

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Accounting for responsible leadership during challenging times

The technological disruption brought about by the onset of the Fourth Industrial Revolution (4IR) has, in combination with the COVID-19 pandemic, created a profoundly changed reality and operating environment for companies and 2021 will continue to be dominated by technology and adaptability. Businesses are still trying to play catch-up from the staggering level of business…

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Living the Code

As a recognition that registered auditors may at times be exposed to imperfect situations, the code of conduct equips IRBA’s members to think through ethical complexity, by referring to its conceptual framework. The code requires RAs to be able to identify, evaluate and address possible threats to the achievement of the code’s fundamental principles. Professional…

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Special Report – Audit Reform: Auditors and the public interest

Against the backdrop of the ongoing scrutiny the auditing and accountancy professions are under, SAICA hosted an online discussion about auditors and the public interest, ethics and professional integrity in October 2020. The panel and participants focused on how the future of the profession is linked to the need for it to reinforce the commitment…

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Why are accountants and auditors so hesitant to embrace new technologies?

We explore some of the reasons for the lack of adoption of emerging technologies in the assurance space. The Fourth Industrial Revolution (4IR) and its associated technologies are creating a vast number of opportunities and millions of new jobs. Yet, accountants and auditors (collectively, assurance professionals) are not embracing these technologies at the same pace…

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The forgotten factor: The people behind the automated finance function

Many businesses are automating their finance functions in the time of digital transformation. There is certainly a case to be made for this. The time saving alone can save millions for any one business as repetitive tasks are streamlined and analyses processed, which of course all moves to support better strategic decision-making. It is then…

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The future is positive

Ian Mann, one of South Africa’s most respected strategy and leadership consultants, shares his fact-based views on why the world is getting better. In a time where we could all do with a little positivity, Ian Mann, CEO of Gateways and international strategy and implementation consultant, feels it’s time to give SAICA and its members…

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The top three skills finance professionals cannot go without in 2021 and beyond

The accountancy and audit industries are on the cusp of an automation transformation guided by the incredible growth of emerging technologies like robotic process automation (RPA) and artificial intelligence (AI). What’s more, the world is experiencing the most significant global recession since the 1930s Great Depression. The evolution of the finance function is perfectly timed…

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4 predictions for digital finance in 2025

The digital transformation of the finance function has continued relentlessly throughout 2020. We’re already starting to see the paybacks from making small, incremental changes to financial workflows by adopting emerging technologies. The pandemic is accelerating the speed of change and catalysing more investment in end-to-end automation and remote working. Where will the digital transformation of…

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The CFO rebooted

Bean counters? Hardly. Aided by technology, the CFO of the future plays an integral role in everything from business strategy to digitalisation. There was a time when the primary concern facing senior financial decision-makers was the company’s financial performance, usually considered from a rearview mirror perspective. That is changing as digital tools broaden the scope…

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