Accounting and Auditing News

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  • Why is the audit profession slow in adopting analytics?
    on November 11, 2019 at 7:19 am

    Image source: Getty/Gallo</span>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. This explains why some practitioners are hesitant to embrace audit analytics in their audits - it feels "safer" to adhere to the minimum requirements of the ISAs, rather than continuously challenging the interpretation of the standards.Read more... | Send to a friend

  • Misconceptions about the roles and responsibilities of the auditor
    on November 7, 2019 at 12:56 pm

    Hayley Barker Hoogwerf</span>The public is seeking answers after the spate of corporate collapses and significant financial losses, and auditors have come under intensive scrutiny and criticism. Some believe that this may be due to an expectation gap that has developed between the users of the financial statements that are subject to the audit and the auditors who have clear roles and responsibilities.Read more... | Send to a friend

  • CIMA refreshes its Code of Ethics to help finance professionals address ethical challenges of the 2020s
    on November 5, 2019 at 2:17 pm

    The Chartered Institute of Management Accountants (CIMA) has updated its Code of Ethics.Read more... | Send to a friend

  • Thuthuka and KZN Provincial Treasury: A study in success
    on November 4, 2019 at 2:23 pm

    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.Read more... | Send to a friend

  • Why highly qualified and experienced directors are more at risk of being declared delinquents
    on November 1, 2019 at 12:42 pm

    Shuttershock</span>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.Read more... | Send to a friend

  • The right-sized solution for your small business needs is finally here
    on October 29, 2019 at 9:16 am

    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.Read more... | Send to a friend

  • Corporate reporting should extend to employee wellness
    on October 18, 2019 at 5:30 am

    Image source: Getty/Gallo</span>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, even though the wellbeing of employees has a substantial impact on business success and sustainability.Read more... | Send to a friend

  • The Enhanced Auditor's Report - Post implementation review in South Africa
    on October 11, 2019 at 2:31 pm

    The new and revised auditor reporting standards became effective for audits of financial statements for periods ending on or after 15 December 2016. 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.Read more... | Send to a friend

  • Confidence in auditing profession is looking up
    on October 9, 2019 at 5:08 pm

    Image source: Getty/Gallo</span>There's been a slight improvement in the perception of shareholder governance and the strength of auditing and accounting standards, according to the World Economic Forum's Global Competitiveness Report.Read more... | Send to a friend

  • SA businesses compare well with standards of good conduct
    on October 8, 2019 at 1:16 pm

    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. However, gaps remain that need to be overcome.Read more... | Send to a friend