#MandelaMonth

How an effective risk culture creates good governance
How an effective risk culture creates good governance

Taking risks is part of doing business, but the recent spate of corporate failures illustrates the need to institutionalise an effective risk culture (RC)...

By Thabile Nyaba 10 Jul 2018

Do you understand Sars' tax understatement penalty behaviours?
Do you understand Sars' tax understatement penalty behaviours?

On 1 October 2012 the understatement penalty regime was introduced to replace the additional tax regime...

By Esther Geldenhuys 9 Jul 2018

When does prescription start to run against Sars?
When does prescription start to run against Sars?

There are periods of limitations for issuing assessments which are set out in section 99 of the Tax Administration Act 28 of 2011 ("TAA")...

By Graeme Palmer 27 Jun 2018

What is XBRL and how does it affect your financial reporting?
What is XBRL and how does it affect your financial reporting?

The fast-moving technology and information age have changed our lives, and similarly digital financial reporting is transforming the business world...

By Mpho Simelane 26 Jun 2018

Anoj Singh, former Eskom CFO, Photo: Construction Review Online
Saica brings charges against Anoj Singh

After, what it terms, a lengthy investigation, the South African Institute of Chartered Accountants' (Saica) is bringing charges of misconduct against former Eskom chief financial officer, Anoj Singh...

20 Jun 2018

Rashied Small, Saipa executive: education, training and membership
Trainee accountant logbook goes digital

Trainee accountants will now be able to maintain an online version of their portfolio that needs to be completed to become a professional accountant...

19 Jun 2018

Bernard Agulhas, CEO: IRBA
Resetting the standards of audit quality

The Monitoring Group has published feedback on its consultation process into strengthening the governance and oversight of the international audit-related standard-setting boards...

13 Jun 2018

Revisions to conceptual framework for IFRS
Revisions to conceptual framework for IFRS

In South Africa, the laws and regulations that apply to preparing a company's financial statements are either the IFRS) or the IFRS for SMEs...

7 Jun 2018

SA, India CA institutes sign recognition agreement
SA, India CA institutes sign recognition agreement

Following approval from India's Union Cabinet in May, a Pathways to Membership Agreement between the Institute of Chartered Accountants of India (ICAI) and the South African Institute of Chartered Accountants (SAICA) has now been signed...

5 Jun 2018

KPMG to cut 400 jobs in salvage operation
KPMG to cut 400 jobs in salvage operation

After a turbulent 10 months for KPMG South Africa, the audit firm announced its plans to restructure its operations, which will result in about 400 job losses...

4 Jun 2018

KPMG resigns as Saica auditor
KPMG resigns as Saica auditor

KPMG's has resigned as the South African Institute of Chartered Accountants (Saica) external auditors...

1 Jun 2018

Glen Bresler
Corporate governance in owner-managed business

The recent corporate scandals that have rocked South Africa, and in particular the role that auditors have played in not preventing these scandals, is a cause for concern for all business in South Africa...

By Glen Bresler, Issued by Meredith Harington 29 May 2018

Auditor-General Kimi Makwetu
Parliamentary push to give the auditor-general more bite

A parliamentary committee that is tasked with overseeing the Office of the Auditor-General has approved an amendment to legislation that will give the AG's office more teeth...

24 May 2018

Treasury to host public financial management conference
Treasury to host public financial management conference

Finance Deputy Minister Mondli Gungubele is expected to address the second Public Financial Management (PFM) Conference that will get underway in Johannesburg today.

9 May 2018

Law amendments will strengthen IRBA's mandate
Law amendments will strengthen IRBA's mandate

Since the scandals around the accounting and auditing profession erupted last year, the SCoF has recognised the need to strengthen the IRBA oversight powers...

18 Apr 2018

KPMG under the cosh again over VBS Bank
KPMG under the cosh again over VBS Bank

Embattled audit firm KPMG South Africa has announced that two of its partners have resigned, rather than face disciplinary charges for failure to disclose their financial interests in VBS Mutual Bank...

16 Apr 2018

Deloitte: CFOs are getting left behind when it comes to cognitive technology
Deloitte: CFOs are getting left behind when it comes to cognitive technology

While cognitive technology is making inroads into other business sectors, it seems CFOs have remained somewhat on the sidelines...

12 Apr 2018

Seven reasons why your business should use cloud accounting software
Seven reasons why your business should use cloud accounting software

A deeper look into the benefits of cloud accounting clearly makes it an attractive option for any company looking to scale up...

Issued by Outsourced CFO 10 Apr 2018

Risks of cryptocurrencies like Bitcoin must be better understood by accountancy profession, says ACCA
Risks of cryptocurrencies like Bitcoin must be better understood by accountancy profession, says ACCA

ACCA (the Association of Chartered Certified Accountants) issued a new warning to professional accountants over the importance of maintaining an up-to-date understanding of developments in the fast-moving space of cryptocurrencies like Bitcoin...

Issued by ACCA 9 Apr 2018

Imran Vanker, standards director at the Independent Regulatory Board for Auditors
Audit regulator extends probe into Deloitte's role in Steinhoff crisis back to 2012

The Independent Regulatory Board for Auditors (Irba) has extended its investigation into the role of auditing firm Deloitte in the auditing of Steinhoff financial statements back by two years to 2012...

By Linda Ensor 29 Mar 2018

Faith Ngwenya, technical executive, South African Institute of Professional Accountants (Saipa)
Saipa questions inclusion of professional accountants in Fica schedule

Small accountancy practices could feel the pinch of compliance obligations if the professional is included as an accountable institution in a schedule of the Financial Intelligence Centre Act (Fica)...

By Faith Ngwenya 28 Mar 2018

Struan Robertson
The budget and tax law cycle in South Africa

In this article we will be looking at the annual cycle of tax law changes, and when this filters into the tax calculations of individuals, trusts and companies...

By Struan Robertson, Issued by Meredith Harington 27 Mar 2018

Hearings on Deloitte's African Bank audit start
Hearings on Deloitte's African Bank audit start

Public disciplinary hearings into Deloitte's audit of African Bank Investments Limited (Abil) began on Monday, in what is the biggest case the Independent Regulatory Board for Auditors (IRBA) has handled since its formation in 2006...

20 Mar 2018

Sars boss Tom Moyane suspended
Sars boss Tom Moyane suspended

In a late-night move, President Cyril Ramaphosa has suspended South African Revenue Service (Sars) commissioner Tom Moyane.

By Penwell Dlamini 20 Mar 2018

Steinhoff investors voted to absolve directors of liability
Steinhoff investors voted to absolve directors of liability

More than 98% of Steinhoff International's shareholders voted to discharge all of the directors and supervisory board members from liabilities at the group's annual general meeting (AGM) in March 2017...

By Ann Crotty 15 Mar 2018

Photo: KPMG
KPMG SA fined $100,000 for "improper professional conduct"

KPMG SA has been censured by the powerful US Securities and Exchange Commission (SEC) and has to pay a $100,000 fine for "improper professional conduct"...

By Ann Crotty 15 Mar 2018

Top Sars official Jonas Makwakwa 'quits' mid-probe, sources say
Top Sars official Jonas Makwakwa 'quits' mid-probe, sources say

The embattled South African Revenue Service (Sars) was on Wednesday expected to announce the resignation, with immediate effect, of Jonas Makwakwa, its disgraced chief officer for business and individual tax...

By Sabelo Skiti 14 Mar 2018

Steinhoff: mess began in central Europe
Steinhoff: mess began in central Europe

Steinhoff chairwoman Heather Sonn said it appeared that the group's "accounting irregularities" related largely to its central European business...

By Ann Crotty 2 Mar 2018

Appropriate risk management is crucial for effective strategic leadership, says ACCA
Appropriate risk management is crucial for effective strategic leadership, says ACCA

Organisations cannot exploit strategic opportunities nor can they protect themselves from potential losses or failures, without a clear steer from the top on appropriate risk taking, says ACCA (Association of Chartered Certified Accountants)...

Issued by ACCA 1 Mar 2018

Bernard Agulhas, CEO of the IRBA
IRBA prioritises Steinhoff/Deloitte case

Despite constraints on the speed with which the IRBA can deal with complex investigations such as the Steinhoff/Deloitte matter, it will continue to prioritise high public interest cases such as this...

26 Feb 2018

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