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Doing it her way
Doing it her wayArticle

Ipfani Singo (29), known as Hope, wanted to be a Chartered Accountant [CA(SA)] from as early as Grade 4. Yet her journey to becoming a chartered accountant has not been easy for her. Thankfully Hope had Thuthuka to hold her hand...

Issued by SAICA 23 Apr 2021

Wiehann Olivier, partner, Mazars
MTI Ponzi scheme highlights need for crypto regulationArticle

Mirror Trading International (MTI) has been unmasked as what was been termed as the world's largest cryptocurrency Ponzi scam...

Wiehann Olivier 13 Apr 2021

Zimkita Mabindla
Who will monitor the monitors?Article

Enemy of the State is one of my all-time favourite movies. The plot is typically Hollywood. A leader of an institution tasked with national security goes rogue...

Zimkita Mabindla 16 Mar 2021

Professor Wiseman Nkuhlu
The social role of the auditing professionArticle

Over the past 20 years, the auditing profession has come under increased public criticism. In the case of South Africa, censure and condemnation of the profession has been very fierce over the last five years....

Wiseman Nkuhlu 10 Mar 2021

Image: Pinterest
MAFR take up stands at 43% among JSE-listed companiesArticle

Forty-three percent of the JSE Ltd main board listed companies have already voluntarily rotated auditors more than two years before the Mandatory Audit Firm Rotation (MAFR) comes into effect on 1 April 2023...

8 Mar 2021

IRBA calls for board nominations
IRBA calls for board nominationsArticle

The caretaker board appointed by finance minister, Tito Mboweni, to guide the Independent Regulatory Board for Auditors (IRBA) to a more stable position has called for nominations for new board members...

26 Feb 2021

KPMG drops non-audit services from its menu for listed clients
KPMG drops non-audit services from its menu for listed clientsArticle

Audit firm, KPMG, will no longer offer non-audit services to its JSE-listed clients, in an attempt to repair its tattered reputation, and that of the profession in general...

16 Feb 2021

Milton Segal, senior executive for corporate reporting, Saica
The concept of materiality and the need to embrace itArticle

The concept of materiality is one of the most fundamental and significant concepts within the financial and corporate reporting ecosystem...

Milton Segal 17 Nov 2020

Is South Africa suffering a crisis of ethics?
Is South Africa suffering a crisis of ethics?Article

Integrity, objectivity and independence. These are the cornerstones or pillars of ethical conduct in any and every professional sector. When looking closer at South Africa's professional sector, both public and private, have these pillars been applied? Have they been consistent practical guidelines for ethical conduct and practice? Are we edging towards a slippery slope of disregard for any form of ethicality or have we already slipped into a crisis?

Nomathamsanqa Ashom 10 Nov 2020

Zimkitla Mabindla
#WomensMonth: I strive to be an empowering leader, says Zimkita MabindlaArticle

Her curiosity about how money works as a young child is what inspired Zimkita Mabindla to become a chartered accountant. But what she really strives for is to be an empowering leader, both professionally and personally...

Nicci Botha 28 Aug 2020

Bernard Agulhas, former CEO, IRBA
How to restore confidence in the auditing professionArticle

The auditing profession finds itself in a state of crisis. In discussing how and why this happened, the lessons learnt and the required response, Bernard Agulhas, former chief executive of the Independent Regulatory Board of Auditors (IRBA) identified six questions...

8 Jul 2020

Hayley Barker Hoogwerf, Saica project director: assurance
Modification to the audit opinion explainedArticle

Audit firms are advanced in terms of being able to work remotely. Many firms, even the smaller firms, have cloud-based software that can be accessed anywhere and at any time...

18 Jun 2020

Image source: Getty/Gallo
#BizFinFocus: Time for central banks to face climate changeArticle

Seventy percent of central banks and regulators see climate change as 'major threat' to financial stability, but are split on where responsibility for action lies...

19 Feb 2020

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

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

Thandokuhle Myoli, Issued by SAICA 18 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 professionArticle

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...

Ciara Reintjes, Issued by SAICA 13 Feb 2020

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

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

3 Dec 2019

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

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

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

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

9 Oct 2019

Bernard Agulhas, CEO of the IRBA
21% of JSE-listed companies have changed their auditors ahead of MAFR deadlineArticle

Roughly 21% of the JSE Ltd main board listed companies have already voluntarily rotated auditors ahead of the 1 April 2023 deadline for mandatory audit firm rotation (MAFR)...

7 Oct 2019

Edward Kieswetter, Sars commissioner
Kieswetter gradually turning the Sars ship aroundArticle

The South African Revenue Service (Sars) appears to be making great strides in gaining much-needed certainty and stability since Edward Kieswetter took the helm...

Tertius Troost 4 Sep 2019

#CEM19: Once you've lost consumers' trust, how do you re-establish it? KPMG responds
#CEM19: Once you've lost consumers' trust, how do you re-establish it? KPMG respondsArticle

Ignatius Sehoole, CEO of KPMG SA's honest keynote presentation at the 8th annual CEM Africa Summit was a highlight for many. He said, "We know where we are, we know how we got here, and we have started our journey of renewal. Our ongoing task is to re-establish trust of the SA business community and society." Here's how they're doing so...

Leigh Andrews 2 Aug 2019

IFIAR launches annual survey
IFIAR launches annual surveyArticle

The International Forum of Independent Audit Regulators (IFIAR), of which the Independent Regulatory Board for Auditors (IRBA) in South Africa is a member, released its report Survey of Inspection Findings 2018 on 16 May 2019.

7 Jun 2019

Bernard Agulhas, CEO of the IRBA
17% of JSE-listed companies have rotated auditors ahead of MAFRArticle

With only four years to go before until the mandatory audit firm rotation (MAFR) deadline, roughly 17% of the JSE Ltd main board listed companies have already voluntarily rotated auditors...

2 Apr 2019

Professor Rashied Small, education and training executive at Saipa.
What will the accounting profession look like in 5 years?Article

The conversation around the future of the accounting profession usually veers to digitisation of the profession or the role artificial intelligence (AI) will play in transforming the practitioner's duties...

11 Mar 2019

Bernard Agulhas, CEO of IRBA
IRBA inspections reveal recurring quality deficiency themesArticle

The Independent Regulatory Board for Auditors (IRBA) today released its 2018 Public Inspections Report...

19 Feb 2019

Dr Adrian Saville, chief executive of Cannon Asset Managers
The question every investor should askArticle

Most investors' first question is, "How much money can I make?" But the accounting scandal at Steinhoff or business fraud at Theranos - and their subsequent share price collapses - highlight that an investor's first consideration should rather be,"How much money can I lose?"

Adrian Saville 30 Jan 2019

Wendy Simmons, audit manager at Hobbs Sinclair
A question of ethicsArticle

In this past year, our profession, and in particular, our reputation as independent auditors and chartered accountants, has been subjected to fairly intense scrutiny...

Wendy Simmons 29 Nov 2018

KPMG SA appoints new bossInBrief

28 Nov 2018

Leading accounting firm SekelaXabiso implements Deltek's accounting practice management solution
Leading accounting firm SekelaXabiso implements Deltek's accounting practice management solutionArticle

Silversoft, a leading provider of enterprise software and information solutions for professional services firms, has announced that leading South African Accounting & Audit Firm, SekelaXabiso (SkX), has implemented Deltek Maconomy to manage its practice...

Issued by Silversoft 9 Nov 2018

#NewBiz: BDO appoints The Looking Glass, Alphabet Soup
#NewBiz: BDO appoints The Looking Glass, Alphabet SoupArticle

BDO South Africa has appointed The Looking Glass and Alphabet Soup to launch their first local advertising campaign in line with BDO's merger with Grant Thornton Johannesburg...

8 Nov 2018

Zweli Mkhize, minister of cooperative governance and traditional affairs
Heads roll amid VBS municipal probeArticle

Several municipal officials have been suspended and in some instances, charged with fraud in relation to investments made in VBS Mutual Bank...

24 Oct 2018

Richard Firth
Should CPA firms add consulting services to their stable?Article

The number of audit firms that are offering consulting and software development services to boost their revenues has been on the rise...

Richard Firth 28 Sep 2018

Bernard Agulhas, CEO: IRBA
MAFR the main reason for 33% of companies changing auditorsArticle

One third of the JSE-listed companies polled have cited the mandatory audit firm rotation (MAFR) rule as the primary reason why they have changed audit firms...

3 Aug 2018

Imran Vanker
IRBA issues notice of transparency reporting for audit firmsArticle

The Independent Regulatory Board for Auditors (IRBA) has called on South African audit firms to produce transparency reports which provide insight...

31 Jul 2018

Mining Charter 2.0: The good, the bad and the ugly
Mining Charter 2.0: The good, the bad and the uglyArticle

The new draft Mining Charter has toned down the Black Economic Empowerment (BEE) ownership target from the Zwane version, while a stability clause is also proposed...

Bert Lopes 20 Jun 2018

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

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

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

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 auditorArticle

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

1 Jun 2018

DWS to fully cooperate with Parly inquiry
DWS to fully cooperate with Parly inquiryArticle

The Department of Water and Sanitation (DWS) says it will fully cooperate in the inquiry set to investigate the financial state of the department...

9 May 2018

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

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

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

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

Put your thinking caps on - Student Leadership Summit call for entry
Put your thinking caps on - Student Leadership Summit call for entryArticle

Now in its 10th year, the South African Institute of Chartered Accountants' annual Student Leadership Summit is open for entries...

19 Mar 2018

12 Cell C Girl Child Bursary Fund graduates all successfully employed
12 Cell C Girl Child Bursary Fund graduates all successfully employedArticle

Qualified in fields such as law, commerce and IT, the 12 female graduates supported by the Cell C Girl Child Bursary Fund are all now successfully employed...

27 Feb 2018

Sassa flouted policy in CPS payment, court told
Sassa flouted policy in CPS payment, court toldArticle

Corruption Watch told the High Court in Pretoria on Thursday, 22 February 2018, that the South African Social Security Agency (Sassa) had not complied with its supply chain policy when it agreed to pay Cash Paymaster Services (CPS) for the reregistration of social grant beneficiaries in 2015...

Ann Crotty 23 Feb 2018

Acsa trio face the chop following inquiry
Acsa trio face the chop following inquiryArticle

Three employees at Airports Company SA (Acsa) face the axe after a disciplinary inquiry found them guilty of flouting supply chain rules and failing to obtain authorisation to participate in an Acsa empowerment scheme...

Moyagabo Maake 12 Feb 2018

Audit firm pays back Sars
Audit firm pays back SarsArticle

Embattled international auditing firm KPMG SA says it has paid back the R23m it received as payment from the South African Revenue Service for the report on the so-called rogue unit.

4 Feb 2018

Liz Segal
Women in the motoring industryArticle

Manufacturers across the world are embarking on radical transformation in all areas of their business and automotive companies looking to develop a competitive advantage would do well to embrace diversity, taking advantage of the opportunity to foster disruption and innovation...

Liz Segal 1 Feb 2018

Date set for beginning of KPMG-Gupta hearings
Date set for beginning of KPMG-Gupta hearingsArticle

The Ntsebeza inquiry into the conduct of South African Institute of Chartered Accountants (Saica) members who worked for KPMG SA on Gupta accounts and the South African Revenue Service (Sars) "rogue unit" report will soon start its hearings...

Genevieve Quintal 1 Feb 2018

German regulator cannot probe Deloitte
German regulator cannot probe DeloitteArticle

The German regulatory authority for auditors has no direct legal competence to investigate Deloitte's handling of the financial statements of the international retail holding company Steinhoff International Holdings...

Linda Ensor 19 Dec 2017

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