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Finance Trends 2020

The relationship between audit quality and audit fees
The relationship between audit quality and audit fees

There is a perception in various circles that lower audit fees equate to lower audit quality, writes Thandokuhle Myoli, Saica project director: assurance...

By Thandokuhle Myoli, Issued by SAICA 3 days ago

From Cape Flats childhood to a well-chartered life of uplifting youth through sports
From Cape Flats childhood to a well-chartered life of uplifting youth through sports

Here's what inspired Nathaniel Japhta - who grew up in the Cape Flats - to push through and help the next generation get on the safe track to a brighter future...

By Leigh Andrews, Issued by SAICA 3 days ago

SAICA congratulates successful Assessment of Professional Competence candidates
SAICA congratulates successful Assessment of Professional Competence candidates

Today, the South African Institute of Chartered Accountants (SAICA) announced that 2,024 of the 3,560 candidates who wrote the Assessment of Professional Competence (APC) evaluation in November 2019, successfully met the assessment's requirements...

Issued by SAICA 14 Feb 2020

Transparency reporting - a significant step toward regaining trust in the auditing profession
Transparency reporting - a significant step toward regaining trust in the auditing profession

KPMG South Africa recently issued its transparency report following on from transparency and similar reports issued by the other large audit firms in South Africa in 2019...

By Ciara Reintjes, Issued by SAICA 13 Feb 2020

Image source: Getty/Gallo
4 good reasons not to mix your business and personal finances

Freelancers, tradesman and other self-employed people easily fall into the trap of tangling their business and personal finances...

13 Feb 2020

Breaking borders: South African CAs and US CPAs to benefit from MRA
Breaking borders: South African CAs and US CPAs to benefit from MRA

The South African Institute of Chartered Accountants (SAICA), the American Institute of CPAs (AICPA) and the National Association of State Boards of Accountancy (NASBA) have signed a mutual recognition agreement (MRA)...

Issued by SAICA 11 Feb 2020

How can businesses leverage off technology to save on costs and create business efficiencies?
How can businesses leverage off technology to save on costs and create business efficiencies?

How can businesses leverage off technology to save on costs and create business efficiencies? Jameel Khan, SAICA Project Manager Practice, takes a look...

By Jameel Khan, Issued by SAICA 10 Feb 2020

Directors not liable to shareholders for decrease in share value
Directors not liable to shareholders for decrease in share value

In a recent hearing before the Gauteng High Court, Hlumisa Investment Holdings RF Ltd v Kirkinis 2019, the minority shareholders of a holding company attempted to use provisions of the Companies Act, No. 71 of 2008 (the Act) to claim damages from the directors of the company for the reduction in value of their shares...

By Janine Will 10 Feb 2020

Principa and Digemy partner to provide e-learning training to the financial services industry
Principa and Digemy partner to provide e-learning training to the financial services industry

Principa, a South African data analytics company, and Digemy, a Cape Town e-learning technology provider have announced a new partnership...

Issued by Principa 30 Jan 2020

A living example of the new breed of CAs(SA)
A living example of the new breed of CAs(SA)

Move over, number crunchers. Tomorrow's chartered accountants (CAs[SA]) are more concerned with adding value than balancing the books, says Tramayne Monaghan, Chief Innovation Officer of Tencent, a living example of this new breed...

By Lisa Witepski, Issued by SAICA 27 Jan 2020

Jayne Mammatt, South Africa lead on Sustainable Development Goals, PwC
Businesses still in the SDG starting blocks

With only 10 years to go to deliver the Sustainable Development Goals (SDGs), there is a great deal of work to be done if business is to contribute meaningfully to national efforts...

22 Jan 2020

Cabinet approves a raft of bills for public comment
Cabinet approves a raft of bills for public comment

Cabinet has approved the publication of the Municipal Fiscal Powers and Functions Amendment Bill for public comment, says Minister in the Presidency Jackson Mthembu...

18 Dec 2019

#BestofBiz 2019: Finance & Insurance
#BestofBiz 2019: Finance & Insurance

We've compiled our annual #BestofBiz 2019 lists across all our industries featuring our most popular articles, most-read contributors and brand press offices with the most views...

17 Dec 2019

Image source: Getty/Gallo
How to streamline your accounting function

Bookkeeping has always been an essential yet time-consuming task for small and medium entities. Streamlining these tasks is core to providing a better view of the business's financial insights...

By Jeanne Viljoen 10 Dec 2019

Wiehann Olivier
The difference between having your annual financial statements reviewed as opposed to audited

With the current state of the national and global economy, companies are trying to better manage their expenses...

By Wiehann Olivier 9 Dec 2019

Image source: Getty/Gallo
IRBA launches audit quality indicators report

The Independent Regulatory Board for Auditors (IRBA) has launched its Feedback Report on Audit Quality Indicators (AQIs)...

3 Dec 2019

Join the modern workplace with Microsoft Office 365 and Tarsus on Demand
Join the modern workplace with Microsoft Office 365 and Tarsus on Demand

Are new customers passing you by while your head is stuck in admin? This single software suite can free up admin time so you can grow your business...

Issued by Microsoft 2 Dec 2019

Kariem Hoosain, partner at Mazars
Under-regulated internal auditing sector plays part in corporate fraud

Considering the high profile scandals that have dominated news headlines in the last few years, from VBS Mutual Bank to Eskom, it does not seem unreasonable to say that South Africa may have a corporate fraud problem...

28 Nov 2019

Julius Mojapelo, senior executive: public sector, Saica
AG invokes additional powers to curb public sector financial mismanagement

In his 2018-19 report on the audit outcomes for national and provincial government, the auditor general (AG), Kimi Makwetu, attributes the failure to improve the state of public finances to, "those charged with governance being slow to implement, or totally disregarding, audit recommendations made by the AG office"...

22 Nov 2019

Allan Gray
Investment giant Allan Gray dies

Allan Gray, founder of the investment management company that bears his name, died in Bermuda on 10 November at age 81...

11 Nov 2019

Image source: Getty/Gallo
Why is the audit profession slow in adopting analytics?

Think about it. The language in the International Standards on Auditing (ISAs) has not changed sufficiently to keep up with the advancements in technology processes in organisations...

By Amé Rademan 11 Nov 2019

Hayley Barker Hoogwerf
Misconceptions about the roles and responsibilities of the auditor

The public is seeking answers after the spate of corporate collapses and significant financial losses, and auditors have come under intensive scrutiny and criticism...

By Hayley Barker Hoogwerf 7 Nov 2019

CIMA refreshes its Code of Ethics to help finance professionals address ethical challenges of the 2020s
CIMA refreshes its Code of Ethics to help finance professionals address ethical challenges of the 2020s

The Chartered Institute of Management Accountants (CIMA) has updated its Code of Ethics to better help finance professionals deal with ethics and independence challenges in the modern digital business world...

Issued by CIMA 5 Nov 2019

Thuthuka and KZN Provincial Treasury: A study in success
Thuthuka and KZN Provincial Treasury: A study in success

An exciting partnership between the South African Institute of Chartered Accountants (SAICA) and the KwaZulu-Natal Provincial Treasury has had far-reaching results, entrenching a culture of accountability in the department while creating opportunities for the province's youth...

By Lisa Witepski, Issued by SAICA 4 Nov 2019

Shuttershock
Why highly qualified and experienced directors are more at risk of being declared delinquents

It only takes one look at recent newspaper headlines in South Africa to realise that applications to declare directors delinquent are appearing before the country's courts more and more frequently...

By Rehana Cassim 1 Nov 2019

The right-sized solution for your small business needs is finally here
The right-sized solution for your small business needs is finally here

Secure your digital future with an ERP solution that goes beyond accounting. Increase control over your small business with software designed to grow with you...

Issued by Seidor 29 Oct 2019

Image source: Getty/Gallo
Corporate reporting should extend to employee wellness

Current corporate reporting is far more nuanced than ever before, covering financial, environmental, social and governance elements. However, reporting on health has largely been neglected...

18 Oct 2019

The Enhanced Auditor's Report - Post implementation review in South Africa
The Enhanced Auditor's Report - Post implementation review in South Africa

With more than two years of post-implementation experience, this SAICA article provides an overview and analysis of the revised format of the auditor's reports of certain entities listed on the Johannesburg Stock Exchange JSE...

By Thandokuhle Myoli, Issued by SAICA 11 Oct 2019

Image source: Getty/Gallo
Confidence in auditing profession is looking up

There's been a slight improvement in the perception of shareholder governance and the strength of auditing and accounting standards...

9 Oct 2019

SA businesses compare well with standards of good conduct
SA businesses compare well with standards of good conduct

Following in-depth discussions with 25 of South Africa's top financial firms, and the Royal Commission of Inquiry's report on misconduct in the financial industry, it is encouraging to see that initial findings point to a financial services industry that comports well with standards of good conduct...

8 Oct 2019

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