Accounting and Auditing News

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  • IRBA publishes consultation paper on enhancing disclosures in audit reports
    on July 22, 2021 at 6:30 am

    Source: ©1tjf [[]]</span>There is already a precedent in South Africa for additional disclosures in an audit report, but the Independent Regulatory Board for Auditors (IRBA) has heeded the call of various stakeholders, including investors, and published a consultation paper aimed at enhancing this. Read more... | Send to a friend

  • The combined assurance model: Designed to improve accountability?
    on July 8, 2021 at 7:07 am

    Source: Getty/Gallo</span>Accountability and trust are the cornerstones of the accounting profession. The International Federation of Accountants (IFAC) recently issued several calls to the profession to strengthen and uplift public trust. By doing so, the accountancy profession can maintain its public interest mandate, thereby ensuring public confidence, trust, and accountability. This is even more prevalent as economies navigate the Covid-19 crisis. The question is whether the combined assurance model could be a mechanism used to assist the profession in achieving these objectives. Read more... | Send to a friend

  • Amazon found destroying unsold stock - would better accounting practices help?
    on July 7, 2021 at 9:31 am

    © Ken Wolter - [[]]</span>A recent undercover investigation in an Amazon warehouse in Dunfermline, Scotland, reported the disposal of more than 130,000 "new or lightly used" objects in a single week in just that one location. Read more... | Send to a friend

  • Riding the combined assurance wave in the public sector
    on July 1, 2021 at 12:51 pm

    Source: ©wirojsid [[]]</span>The process of finding collective, workable solutions starts with taking collective responsibility and accountability. And for this process to succeed, all roleplayers need to work together. While the system may be weak, coming together with a common purpose will lead to improved outcomes. Read more... | Send to a friend

  • #YouthMatters: Linda Baqwa strives for great achievements
    on June 25, 2021 at 7:30 am

    Linda Baqwa, account manager for Streamline</span>Linda Baqwa is the account manager for Streamline Retail Hub. An animated young professional, she hopes to make strides in the digital and advertising industry to pave the way for young, black women to succeed Read more... | Send to a friend

  • SIU granted order to freeze bank accounts of Digital Vibes
    on June 24, 2021 at 9:24 am

    The Special Investigating Unit (SIU) has been granted a preservation order to freeze approximately R22m held in bank and investment accounts linked to Digital Vibes (Pty) Ltd. Read more... | Send to a friend

  • Mboweni appoints new IRBA board
    on June 14, 2021 at 7:58 am

    Fulvio Tonelli, new chair of IRBA</span>Finance minister, Tito Mboweni, has announced a new board for the troubled Independent Regulatory Board for Auditors (IRBA). Read more... | Send to a friend

  • Do we really need all this data?
    on June 11, 2021 at 5:08 am

    [[]]</span>The advent of Protection of Private Information Act (PoPIA) from 1 July 2021 will make us all look at how we collect information from subjects and to question what is necessary to gather. In short, most firms - large and small - process data of some sort and will have to comply with regulations around how we collect, store and protect such data. Read more... | Send to a friend

  • What you should know about work-related tax deductions
    on June 9, 2021 at 8:09 am

    [[]]</span>President Cyril Ramaphosa signed a series of new tax- and finance-focused bills into law on 20 January 2021. Even though they primarily deal with administrative and technical issues, but there are a number of changes that will affect your work-related claims. Read more... | Send to a friend

  • Committed to working together to prevent fraud in Southern Africa
    on May 14, 2021 at 2:32 pm

    Association of Certified Fraud Examiners, South Africa (ACFE SA) and the South African Institute of Chartered Accountants (SAICA) sign a new Memorandum of Understanding Read more... | Send to a friend