Manage your Practice: ISQM 1: What is the implementation status of our small and medium-sized practices?

On 26 August 2022 SAICA presented a practical ISQM 11 webinar specifically aimed at small and medium-sized practices (SMPs). Several questions were posed to the delegates during the webinar. This article will share the responses received from the delegates. These responses of course do not represent the results of a survey of the entire population…

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Lifestyle: Tech review – Laptop bags and tablet sleeves

Port Designs’ latest Laptop bags and Tablet sleeves are stylish, modern and easy to carry. These products are available from different online stores. Port Designs Courchevel 15,6″ Backpack The Port Designs Courchevel 14/15,6″ backpack is both robust and lightweight, designed to transport your laptop. The Courchevel has a padded interior compartment to provide optimal protection…

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Lifestyle: Travel – Summer roadtrippin

December in South Africa is about coastal migrations, as inlanders from Gauteng and elsewhere make their way to the coast for some holiday beach therapy. But you’ll also find many trekking in reverse, either returning North for Christmas with family or perhaps pursuing the bush and vast veld of these wonderful lands. The N1 is…

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Manage your Practice: ISQM 1: Information and Communication, Networks and Documentation

ISQM 11, ISQM 22 and ISA 220 (Revised)3 come into effect on 15 December 2022. These standards are expected to have a significant impact on all firms that perform engagements in accordance with the IAASB standards. The South African Institute of Chartered Accountants (SAICA), in collaboration with the Pan African Federation of Accountants (PAFA) and…

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Manage your Practice: Deregistration of companies and close corporations

Deregistration of companies and close corporations occurs when a company is removed from the Companies and Intellectual Property Commission (CIPC) register. The CIPC publishes in the Government Gazette the list of companies and close corporations that would have been deregistered. In terms of the Companies Act 71 of 2008, section 82(3)(a)(i), the CIPC may refer…

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Focus: How is your mental health?

It’s been called ‘the silent pandemic’: the growing prevalence of mental ill-health, which has been following an upward trajectory since the remote working and social distancing policies that were implemented to keep COVID-19 at bay heightened our sense of anxiety and isolation. Difficult as it was to adapt to these unfamiliar circumstances, the move to…

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Focus: To split or not to split, that is the question

The idea of splitting the auditing and non-auditing (consulting/advisory) businesses of firms was mentioned in a report by a United Kingdom Parliamentary Committee following the collapse of Carillion in January 2020. The UK regulator (the Financial Reporting Council, FRC) later asked the largest UK firms to operationally split up their auditing and non-auditing businesses by…

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Focus: Defining the future of auditing through intelligent automation and real-time opinions

Does the current model of the traditional regulatory and statutory audit still make sense in the changing business context? These audits performed by independent and external auditors in line with relevant laws and regulations, require the auditee to submit a set of reporting information, and the auditor to produce their report annually in line with…

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Lifestyle: Motoring – Ford Everest Sport

The Ford Everest sport 2,0 diesel 4×4 with its seven-seater configuration is a go-anywhere family vehicle. Its exterior, although modelled off the Ford Ranger, has a certain sophistication, and in sport guise Ford has added black 20-inch mag wheels, a 3D Everest bonnet badge and blackened badges all round, adding to the overall rugged look.…

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Lifestyle: Tech review – The Huawei Watch Fit 2, The Huawei Watch D, The Huawei Band 7, The Huawei Watch GT 3 Pro

Huawei South Africa recently launched its next generation of smartwatches and fitness bands. These smartwatches boast stylish designs, long-lasting batteries and innovative health and fitness tracking features. The Huawei Watch Fit 2 The Huawei Watch Fit 2 has an Amoled 1,74-inch Huawei full-view display and a new chessboard launcher that offers a seamless user experience.…

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Special Report – IASB – SAICA host the IASB BOARD chair and chairman of the INTERPRETATIONS COMMITTEE

The SAICA Standards unit had the pleasure of hosting Dr Andreas Barckow, the International Accounting Standards Board (IASB) chairman, and board member and chair of the International Financial Reporting Interpretations Committee (IFRIC), Mr Bruce Mackenzie CA(SA), in August. This was the first time since 2010 that an IASB international chair had visited SAICA and its…

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Lifestyle: Health – Why fruits and vitamins are the skincare ingredients of the moment

Like our bodies, our skin needs plenty of nutrients to look and feel its best. Scientists continually find new sources from which to extract these nutrients for our skincare products. But other than laboratory-created ingredients, where do our skincare ingredients come from? Nutritional skincare ingredients are extracted from plants, flowers, seeds and nuts, herbs, spices…

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Lifestyle: Travel

It’s always nice to be in on a little secret that most others don’t know about. If you’re that kind of person that needs some peace, space and serenity, with a gorgeous sea view: we’ve discovered a gem of a destination where you can always hide. Paternoster is a quaint fishing village that alludes a…

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Lifestyle: Travel

If you’re looking for that ideal stylish location for your business trip, yet that still has that ‘home-away-from-home’ touch, the AC Hotel by Marriott Cape Town Waterfront is at the top of the list with its incredible views of Table Mountain, Lion’s Head and Signal Hill, along with a food experience to write home about.…

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Lifestyle: International Travel – Interlaken

Interlaken is known as the adventure capital of Switzerland, and after a visit to this picturesque Alpine town, you will understand why and definitely return year after year. The untouched natural surroundings, crystal-clear waters and snow-covered peaks provide a sense of wellbeing. Interlaken in the Bernese Oberland is renowned for its impressive mountain scenery and…

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Lifestyle: Motoring – Kia Sorento

In January 2021 Kia revealed its new global brand slogan, which signifies the automaker’s bold transformation. The new image is not only visible in its new logo but also in the all-new design philosophy Before the launch of the new Sorento, Kia leaked pictures of the tail-lights, and they were nothing like we had seen…

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Lifestyle: Product review

In 2021, Jowayne van Wyk CA(SA), a Top 35-under-35 finalist, founded Jowa’s Grill (better known as Jowa’s Spices and Sauces), which has now expanded to Jowa’s Coffee and Jowa’s Nutrition. Jowa’s Hailing from the small town of Sutherland, Jowayne’s dream has always been to create something unique. He adopted his trademark name, ‘Jowa,’ from his…

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Lifestyle: Perfect for winter

A selection of products that are perfect for making the most of winter, travelling and staying warm. Ready for snow Ladies, stay warm and cosy while looking good, no matter the weather. With the K-Way Women’s Mia Ski Jacket you will be ready for any weather this winter. It is also perfect for the ski…

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Focus: A rosier future for crypto?

Monique Verduyn spoke to crypto expert Petri Basson, a CA(SA) who is building digital companies from the Cayman Islands, as well as developing a crypto data aggregation and normalisation business (Hash Data) to simplify digital asset management. Cryptocurrency is not just for young, tech-savvy millennials anymore. Governments, central banks and major enterprises can no longer…

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Focus: What keeps cryptocurrency auditors awake at night?

Insights from a webinar hosted by Mazars in collaboration with South African digital asset exchange Luno. Today, South Africa finds itself amongst the top-ranking cryptocurrency trading nations on the continent. With local daily crypto asset trading values exceeding the $45 million mark, regulators and auditors play an increasingly crucial role in securing and validating the…

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Focus: Blockchain technology for government procurement #A must or a maybe?

South African government supply chain and procurement processes are often marred by irregularities and allegations of corruption which are reported annually by the Auditor-General South Africa (AGSA) and other bodies, as well as the media. Of even greater concern is the lack of (quality) service delivery that often results from these irregularities and corruption, and…

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Focus: How do decentralised digital identities (DIDs) work on Ethereum?

Blockchain technology allows users to create and manage digital identities through the combination of three components: decentralised identifiers, identity management and embedded encryption. A digital identity arises organically from the use of personal information on the web and from the shadow data created by the individual’s actions online. A digital identity may be a pseudonymous…

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Focus: Sustainability reporting in the public sector

This article explores the intersection between corporate sustainability reporting developments and public sector reporting in South Africa Since the establishment of the Task-force on Climate-Related Financial Disclosures (TCFD) in 2015, the announcement of the International Sustainability Standards Board (ISSB) in 2021 at COP 26 and its subsequent establishment, and the introduction of new regulations in…

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Focus: A pathway to accrual accounting for national and provincial departments

Sandiso Gcwabe CA(SA), CFO of the Western Cape Liquor Authority and Deputy Chairperson of the SAICA Southern Region Public Sector Committee, calls for a National Implementation Strategy and Plan for the adoption of accrual accounting for national and provincial departments by 1 April 2026 The continued use of the current Modified Cash Standard (MCS) for…

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Focus: Funding of South African public schools explained

Since 1994, the government’s efforts to redress historical imbalances and achieve equity were fundamental policy mechanisms to restructure South African education Equity reforms in post-apartheid South Africa were intended to equalise funding among provinces, schools and socio-economic groups. This was undertaken through national policies that would direct state funding to public schools. The most significant…

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Focus: Public sector – The impact of 4IR on accounting and finance in the public sector

Doing the 4IR perspectives for accountants’ course as a trainee in the public sector made me wonder how the Fourth Industrial Revolution (4IR) could affect my organisation as a chapter 13 institution which is responsible for managing the public finances of the country. This article is a synopsis of thoughts and observations from our experiences…

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Focus: Public sector – Forgery risk high during COVID-19 lockdown period

As the risks of the COVID-19 pandemic saw various small to large entities crumble, it was an opportunity for fraudsters to flourish too. Assurance providers throughout the value chain of the integrated assurance should therefore ensure vigilance in managing the risks associated with fraud during a remote-working period The lockdown meant that most people, including…

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Focus: Public sector – Municipalities and their role in local communities

Given the history of our country, it is no surprise that the constitution determines developmental duties for municipalities by requiring them to structure and manage their administration, budgeting and planning processes to give priority to the basic needs of their communities and promote the social and economic development of the community The Constitution of the…

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Lifestyle: Technology reviews

COOL NEW GADGETS OPPO Reno7 Z 5G The OPPO Reno7 Z 5G is available in stylish super-sleek rainbow spectrum and cosmic black and weighs 173 g. It features a new ultra-slim retro design and comes with 8 GB of RAM and 128 GB ROM as standard. On the front of the smartphone, a 6,4-inch Amoled…

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Lifestyle: Book review

A BLACK CHILD TRANSFORMED BY ACCOUNTING Botshelo Mhomboti is an accounting clerk who has published her first book ‘A black child transformed by accounting’ in June 2021. She is already busy with her second book called ‘The poetic atmosphere of income tax’. This one will be a book full of income tax poems which aims…

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Focus: The Invigilator – The story behind the No 1 most downloaded education app

In 2020 Nicholas Riemer CA(SA) co-founded The Invigilator, an entry-level smartphone application used to monitor online and remote assessments. Since launching the company, The Invigilator has conducted over 1 million assessments and was the No 1 most downloaded education application in South Africa as of September 2021. At the moment the app is used by…

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Lifestyle: Technology reviews

LENOVO’S THINKPAD X1 NANO AND THINKPAD X1 FOLD; SAMSUNG FREESTYLE; HISENSE U9G 4K MINI-LED TV Take cleaning your home to the next level Take your automated home cleaning to the next level with the Xiaomi Mi Robot Vacuum Mop 2 Pro. This scanner maps out your environment in real-time for its AI to optimize cleaning…

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Focus: Former investment banker turned tech entrepreneur

Schalk Burger’s love for socio-economic upliftment and his passion for innovation combined to form Xhuma − a technology start-up focused on solving the last-mile contextual challenges faced by many talented individuals during their educational journey Schalk Burger CA(SA) can still vividly remember when they started the Xhuma journey and how they kept going from funder…

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Focus: A story of hope

‘I believe that women are stronger than they think and that we are born warriors … all of us. Women have to unleash the potential within themselves to navigate this journey called “life”. I did not give up and went against the odds to self-recovery,’ says Ruyaida Moosa A natural-born leader, Ruyaida Moosa CA(SA), MCompt,…

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Onke Mkiva: Bootstrapping Africa to success

Onke Mkiva (31), the winner of the Top 35-under-35 competition’s Lead category, is co-lead for RMB’s Africa Debt and Trade Solutions business (DTS) and serves on the RMB global DTS Exco. He leads a team of investment professionals across seven countries and was responsible for setting up the most fit-for-purpose operating model for this lending…

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Mariam Tayob Cassim: A story of sweet success

After gleaning vast amounts of valuable business acumen and insight during articles at Deloitte, Mariam Tayob Cassim CA(SA), along with her husband, rather serendipitously started a sweet factory called Richester Foods. Mariam has played a core role in growing the company from its novel beginnings to exponential success. Today the business boasts 600 employees and…

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Nicholas Riemer: Every problem has a solution

Nicholas Riemer (32), SAICA’s 2021 Top 35-under-35 overall winner, is proudly setting an example as a young leader. ‘Being included in this year’s competition was a truly humbling experience. The finalists are a remarkable group of individuals and seeing how each of them is flying the South African and CA(SA) flag high is an inspiration,’…

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On strategy: Zunaid Bulbulia – Lessons from the C-Suite

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 Zunaid Bulbulia CA(SA), who brought a wealth of C-Suite experience to the conversation To truly appreciate the experience that Zunaid brings to the strategy conversation, a brief overview…

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Lifestyle: Technology reviews

LENOVO’S THINKPAD X1 NANO AND THINKPAD X1 FOLD; SAMSUNG FREESTYLE; HISENSE U9G 4K MINI-LED TV LENOVO’S THINKPAD X1 NANO AND THINKPAD X1 FOLD share some of the same technical specs but remain different in many ways. They both use Windows 10 as operating system and an Intel Core processor, and their data is protected by…

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Lifestyle: Local travel – Untamed beauty

This season is perfect for leaving the hectic world behind and discover the untamed beauty of our country’s Elephant Coast and the neighbouring wildlife and marine reserves As you enter Hluhluwe, the ANEW Hotel immediately catches your eye, hidden as it is behind a wall of beautiful towering trees and lush green plants that this…

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Lifestyle: Turning challenges into success

Traditionally a male-dominated industry, Le Grand Domaine winemaker, Debbie Thompson, has proven that she’s a force to be reckoned with. Appointed in early 2020 she has already racked up numerous awards for this boutique brand Le Grand Domaine is situated at the top of beautiful Devon Valley, overlooking the majestic Stellenbosch mountains. Devon Valley is…

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Lifestyle: The power of scent

Did you know that fragrances and perfumes can be traced all the way back to Ancient Mesopotamia? Historically, fragrance was associated with royalty and the ultra-wealthy, but today, it plays an important part in our every-day lives So what is it about fragrance that makes it so special? Have you ever smelt a specific scent…

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Celebrating 20 years of Thuthuka

This year, SAICA’s Thuthuka programme celebrates its 20th year of changing lives and transforming the profession. Throughout the year, we’ll be celebrating some of the numerous milestones this programme has achieved. Milestone 1: SAICA membership demographics have changed significantly In 1980, there were only 8 African and coloured CAs(SA) in South Africa. Today, there are…

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Lifestyle: Bookshelf – The Shepherd and the Beast

In his book The Shepherd and the Beast, Tramayne Monaghan CA(SA) speaks authentically about his leadership experiences, struggles and triumphs to help others unlock their greatest potential. He creatively draws on the works of psychologists, myths and fables to highlight important lessons and encourages the reader to question their own leadership style and take time…

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Lifestyle: Tech review – Samsung Galaxy Z Fold3 5G

The new premium and durable Samsung Galaxy Z Fold3 gives you the luxury to watch, work and play like never before. It’s a combination of a tablet and a smartphone and can also work as a mini-laptop in your pocket – folded, obviously. When you unfold the phone, the 7,6-inch screen gives you PC-style productivity…

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Lifestyle: Cinderella pantomime

The 2021 Cinderella pantomime produced by Janice Honeyman is a perfect way to enjoy the festive season in Johannesburg. Once upon a time a girl named Cinderella lived with her two stepsisters. Poor Cinderella had to work hard all day long so the others could rest. One day big news came to town. The King…

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On strategy: SAICA’s strategic management process

Strategy formulation and risk management Environmental scanning To assist with strategic planning, SAICA management conducted a comprehensive environmental scan and diagnostic review. Its purpose was to understand SAICA’s current internal state and the external environment, the impact of the COVID-19 pandemic, and to identify key internal and external issues facing SAICA. The external environment scan…

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On strategy: Freeman Nomvalo: SAICA CEO

‘We are all strategists walking around …’ In a series of interviews, I explore the approaches of different business leaders to strategy. This month I was in conversation with Freeman Nomvalo, CEO of SAICA Having been in senior leadership roles in both the public and private sectors, Freeman shared his philosophy on various strategy-related aspects.…

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Lifestyle: Tech review – Toshiba Smart 4K LED

Synonymous with quality and great prices, Toshiba has relaunched TVs into the South African market. They are now boasting eight stellar models and planning to introduce many more. Toshiba TVs are manufactured in Cape Town, creating more job opportunities. Toshiba TVs are fondly remembered in many homes as our first TVs back in the day…

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Lifestyle: Motoring – Suzuki Vitara Brezza

Suzuki is a household name that is synonymous with compact off-road vehicles. However, over the last few years, they have been expanding their range with great success and have now become one of the fastest-growing motor vehicle brands in South Africa. SPECIFICATIONS Engine: 1,5L 4-cylinder POWER: 77 KW TORQUE: 138 N.M 0–100 KM/H: N/A PRICE…

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Lifestyle: Wine – Heritage in a bottle

When Stellenview Premium Wines founder, winemaker and entrepreneur Reino Kruger established the brand in 2009 (primarily for export to the Far East), it made perfect sense to pay homage to his family with one of the ranges, namely Kruger Family Reserve. The Kruger family heritage dates back to the early 1700s with the arrival of…

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Lifestyle: Travel – Sakhumuzi restaurant

There is only one street in the world that boasts two Nobel Peace Prize recipients − Vilakazi Street in Soweto The tree where everything began still stands as a monument. The circle of friends has grown over the past 18 years. Like Nelson Mandela and Desmond Tutu, Sakhumzi is building its own legacy in Soweto…

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Advice: On strategy – In conversation with Jeneen Galbraith

Focusing on things that matter 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 Jeneen Galbraith, partner at the SMP (small-medium practices) firm of Galbraith Rushby based in Woodstock, Cape Town The same themes usually come to…

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Advice: 5 ways to manage office conflict

If you get any group of people together for long enough, some sort of conflict will be inevitable. We are all different and while diversity is important for problem-solving and developing a well-rounded organisation, differences in opinions can also be challenging   Disagreements will happen in any workplace, but the way they are handled can…

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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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Lifestyle: Tech review – OPPO’s recently launched Reno5

Its key feature is that it is one of SA’s fastest charging smartphones. With a built-in output charging pin, the device gets to 100% in just 36 minutes safely, to ensure better usage and functionality over longer periods of time. This is an added advantage to many other functionalities in a technological and online driven…

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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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A philanthropic mantra or core business imperative?

Every type of inequality is magnified and exposed through COVID-19, which makes this Sustainable Development Goal (SDG) even more relevant and urgent right now. Its socio-economic impact on the poorest and most vulnerable of our society is expected to last for years beyond the pandemic and requires a specific and intentional focus by leaders across…

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An online learning solution

As a result of COVID-19, education has changed dramatically in a short period of time. Many contact university programmes have had to adapt their teaching and learning pedagogies to online, technology-driven delivery methods. Daylan Staude, senior lecturer and taxation subject head in the Department of Accounting at the University of Fort Hare (UFH), has embraced…

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Public Sector: The onus to change the narrative

Those of us familiar with the public sector in South Africa know that there is an ongoing lack of responsibility in driving much-needed transformation across the various spheres of government. There are those who are in a position to effect change, but a number of obstacles hinder success. Also, those in need of aid have…

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SDG 4: Safeguarding the future of education

Former president Nelson Mandela once said: ‘Education is the most powerful weapon which you can use to change the world.’ But education takes time –and we must act now to safeguard the future of education. Over the years we’ve seen how, through education, people from the most challenging situations have managed to break out and…

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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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The government predicament

In my previous article, I posed the following scenario. An individual finds himself in a body of water with no means to stay afloat and unable to swim ashore. Flanking the shore are several individuals, each positioned at a vantage point that offers a clear view of the person slowly sinking. However, rather than aiding…

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On the highway of triumph: Hundzukani Mabunda

Despite a traumatic childhood hemmed in by in pain and poverty, Hundzukani Mabunda has proved that you can rise above your circumstances and achieve the impossible. She was the first learner at her village to pass Grade 12 with distinctions and also the first qualified chartered accountant at Bambeni Village in Limpopo Province. Today she…

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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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#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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Teaching others to be financially savvy

After attending a conference in Amsterdam, Kalene Smalberger had a lightbulb moment when she realised how great the need was for entrepreneurs to understand the basics of finance. She landed back in South Africa and has since launched various financial courses that are making an incredible difference, right from kids to entrepreneurs, on how to…

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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: SAICA’s internal values and ethics

SAICA’s principal purpose is the enhancement of the relevance, values, competence and influence of its members in South Africa and abroad, and to contribute to economic and social development in South Africa as documented in its constitution. To achieve its purpose, SAICA has adopted as one of its fundamental and enduring long-term ancillary objects for…

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Ethics: Ways to enhance professional ethical identity

The Professional Ethical Choice Model described here is one of the experiential learning tools used on SAICA’s mentoring programme, Development of the model A former chair of the Health Professions Council of South Africa’s (HPCSA) Ethics Committee, Professor Charles Malcolm, shares a story of how he came up with the idea of using a method…

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Ethics: Building ethical professionals

The SAICA mentoring programme, which started in 2017, is aimed at developing and maintaining an ethical professional culture. One of the perennial challenges for professional bodies has been how to ensure ethical behaviour of their members to protect clients and the public and to protect their members at the same time. High-profile ethical breaches have…

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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: The shift to ethical culture

The emphasis on ethical culture in organisations has become much more pronounced in recent years. There seems to be a realisation that regulations and compliance to regulations − important as they may be – simply are not sufficient to ensure sustained ethical conduct in organisations. In fact, a too strong emphasis on regulation and compliance…

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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: Ethical conduct starts with personal values

When asking a school child what values his/her school embraces, he/she will quickly tell you: respect, honesty, fairness, responsibility, acceptance, excellence … We all develop personal values from a very young age, and these values are personally embedded in who we are, where we come from, what we have experienced, and how we see the…

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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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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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Tsakani Maluleke is charting change

South Africa’s new Auditor-General, Tsakani Maluleke (45), has her work cut out for her. But this dynamic young woman is motivated to make a success of her role and to continue the fight her predecessor, Kimi Makwetu, started for good governance in public finance and against rampant mismanagement and fraud. As a young girl, Tsakani…

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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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Have you heard of a DIGITAL CFO?

The digital age does not cease to surprise with all kinds of new and interesting things with which we need to keep up in order to have a sense of comfort about how informed and prepared we are for a new world Digital transformation, digital strategy, digital innovation and other terms which start with the…

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Cybersecurity RESOLUTIONS EVERY BUSINESS NEEDS in 2021

Being able to retain customer trust has never been more important – or more difficult – following the events of 2020. With so much disarray and widespread changes to working patterns, such as the mass migration to remote working, the job of keeping businesses secure has never been more difficult Between more sophisticated cybercriminals and…

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Gain an hour a day and take back your life

Seneca said: ‘People are frugal in guarding their personal property; but as soon as comes to squandering time, they are true most wasteful of the one thing in which it is right to be stingy’. The world has changed. We are suffering fatigue and frustration as we continue our journeys of untangling our work and…

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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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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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Digital technology transforming the role of the CFO

Today’s CFOs are transforming into real-time analysts and they are part of a C-suite force leading the digital transformation agenda in their organisations. Until a few years ago, digital transformation was not high on the agenda for most finance chiefs. Though they recognised that IT was important, most CFOs thought of digital as a technology…

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The art of unlearning and reimagining

COVID-19 is forcing us to have many conversations we probably should have initiated a long time ago − one of which is whether our education system needs to change. Author, futurist and strategy consultant Graeme Codrington recently spoke at a webinar on the future of accounting education, learning and professional development hosted by SAICA to…

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A post-industrial era education model

Rob Paddock, founder of GetSmarter digital learning platform, explains micro credentialling and the need to provide a post-industrial era education model which offers affordable, accessible and quality education to all. We are living in a world of radical shift. And yet, our education system harks back to a bygone era. As part of its ‘Future…

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The changing face of education

Kerryn Kohl, co-founder of 4thTalent, recently spoke about developing competence for the future world of work as part of a series on the future of education run by SAICA. Over the past few months, we have been pushed into a new way of being. Thanks to COVID-19 the digital revolution has been fast-tracked and, whether…

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Tertiary education going online

Gareth Olivier, founder of CA Connect, speaks about what the tertiary providers of the future will look like and how they can remain relevant. While COVID-19 has forced countless companies and institutions to scramble their way online, last year CA Connect (through Milpark Education), drawing on a decade of experience in flexible accounting education, had…

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Adopting a project-based approach to education

Sizwe Nxasana, founder of Future Nation Schools, recently spoke about his chain of affordable schools and whether his innovative methods can be adopted at tertiary and post-CA(SA) qualification levels. There is no denying that the education system in South Africa is deeply lacking. But innovators such as Sizwe Nxasana, founder of Future Nation Schools (FNS),…

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Preparing to develop future CAs(SA)

Professor Alex van der Watt CA(SA) discusses the impact of CA2025 on the qualification process. The chartered accountancy qualification is constantly evolving. SAICA recently entered the final stage of its CA2025 project, an ambitious project that aims to completely overhaul the qualification process and competency framework to ensure it remains fit for purpose in a…

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What does the future hold for CAs(SA)?

Around the world, chartered accountants are respected and sought after for their business acumen. For as long as global economies are powered by sophisticated fiscal systems, CAs(SA) will remain an indispensable part of business due to their rigorous training. However, it is crucial for chartered accountants worldwide to stay relevant in a world increasingly driven…

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What are CEOs and CFOs saying about 2021?

According to futurist Karl Schroeder, foresight is not about predicting the future, it is about minimising surprise, and this will be a cardinal aspect in planning for the year in order for South African businesses to not only survive but thrive. ASA spoke to four major players in the South African landscape about their sentiments…

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Movers and shakers in the digital era

Building her personal branding: Zimasa Tile Zimasa Tile (29) from Johannesburg could be described as influential and inspiring, both in and out of the office. As a business manager to the head of investment banking South Africa (IBSA) at Standard Bank, Zimasa’s adult life is a far cry from the little orphan girl from Mount…

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