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The Accounting & Auditing community of South Africa South Africa Accounting and Auditing news

  • 3 steps towards 'glass boxing' your company with a Biz Press Office
    on July 18, 2019 at 11:18 am

    "In an age of radical transparency, your internal culture is your brand. Time to take action!" proclaims the headline from Trendwatching.com.Read more... | Send to a friend […]

  • Choosing between IFRS and IFRS for SMEs
    on July 16, 2019 at 1:27 pm

    Wiehann Olivier, partners at Mazars</span>Over the last few years we have seen various changes being made with regards to the IFRS (International Financial Reporting Standards) accounting framework. These include new standards such as IFRS 15 (revenue), IFRS 9 (financial instruments) and IFRS 16 (leases), replacing the old IAS 18, IAS 32 and IAS 17,respectively. These changes may seem like a mere modification in abbreviations, that you can leave your accountant and auditor to worry about, but in actual fact, they have had a significant impact on all companies that elected to adopt IFRS as their accounting framework.Read more... | Send to a friend […]

  • South African probe into corruption awaits a star witness - Jacob Zuma
    on July 12, 2019 at 9:32 am

    Former South African President Jacob Zuma. GCIS</span>It's been almost a year since the Commission of Inquiry into allegations of state capture in South Africa began to hear testimony. Also known as the Zondo Commission, it is headed by Deputy Chief Justice Raymond Zondo, who has listened to 130 days of live testimony from more than 80 people. It is probing allegations that the government was captured by private business interests for their own benefit.Read more... | Send to a friend […]

  • Working together to create a skilled and high-functioning workplace
    on July 5, 2019 at 1:41 pm

    The newly appointed CEO of Fasset, Ayanda Mafuleka CA(SA) is passionate about using her position to better the lives of South Africans by steering the organisation's strategy towards the UN's Sustainable Development Goals (SDGs) of Quality Education (SDG 4), Decent Work (SDG 8) and Strong Institutions (SDG 16).Read more... | Send to a friend […]

  • Coronation shines light on unseen spending this Savings Month
    on July 5, 2019 at 1:01 pm

    To mark National Savings Month this July, Coronation is on a mission to inspire South Africans to scrutinise their saving and spending habits and shine a light on the unseen ways in which we are unnecessarily spending money that could rather be invested for growth.Read more... | Send to a friend […]

  • CIMA Africa announces 2nd CGMA Conference to take place in Cape Town
    on July 2, 2019 at 2:41 pm

    Business leaders and accountants will gather to understand the opportunity digital disruption brings to the transformation of finance capabilities in Africa.Read more... | Send to a friend […]

  • Audit shows sorry state of municipalities' finances
    on June 27, 2019 at 8:52 am

    Auditor-General Kimi Makwetu</span>The large majority of the country's municipalities are in a worse financial state than ever before, with only 18 of the 257 getting clean audits for 2017/18.Read more... | Send to a friend […]

  • Saica's progress on the Ntsebeza Inquiry recommendations
    on June 25, 2019 at 8:38 am

    Freeman Nomvalo, Saica CEO</span>The South African Institute of Chartered Accountants (Saica) has issued an update on its actions so far in response to the Ntsebeza Inquiry into the conduct of members employed by KPMG, who were involved in audits of Gupta-owned companies and the South African Revenue Service (Sars) Report.Read more... | Send to a friend […]

  • Why credit rating agencies are still getting away with bad behaviour
    on June 24, 2019 at 9:09 am

    Rating agencies have been at the centre of major financial crises. Shutterstock</span>International credit rating agencies have had their fair share of controversies over the years. They have been at the centre of the major financial crises from the financial markets collapse of New York City in the mid-1970s, the Asian financial crisis of 1997 - 1998, the Enron scandal of 2001, to the global financial crisis of 2008. All of these cost investors globally billions.Read more... | Send to a friend […]

  • Amal Ratnayake FCMA, CGMA elected as 86th CIMA President
    on June 14, 2019 at 3:02 pm

    Ratnayake also appointed to serve as Chairman of the Association of International Certified Professional AccountantsRead more... | Send to a friend […]

The Banking community of South Africa South Africa Banking news

  • Reserve Bank cuts repo rate by 25 basis points
    on July 19, 2019 at 6:39 am

    Lesetja Kganyago</span>The Monetary Policy Committee (MPC) unanimously decided to reduce the repurchase rate by 25 basis points to 6.5% per annum, with effect from 19 July 2019.Read more... | Send to a friend […]

  • 3 steps towards 'glass boxing' your company with a Biz Press Office
    on July 18, 2019 at 11:18 am

    "In an age of radical transparency, your internal culture is your brand. Time to take action!" proclaims the headline from Trendwatching.com.Read more... | Send to a friend […]

  • Deutsche Bank job cuts are tip of the iceberg for the finance industry
    on July 15, 2019 at 11:09 am

    Jobs on the line. EPA-EFE/Facundo Arrizabalaga</span>Deutsche Bank caused a recent stir with the seemingly sudden announcement that it would cut 18,000 jobs - one fifth of its global staff. It is part of a reorganisation designed to return the bank to its core business of corporate banking, private banking and asset management. Most of the job losses will be in the global equity traders and investment banking division Deutsche Bank stated in an announcement made on July 7.Read more... | Send to a friend […]

  • Two new deputy governors appointed to Reserve Bank
    on July 11, 2019 at 12:41 pm

    Image source: Getty/Gallo</span>President Cyril Ramaphosa has appointed Fundi Tshazibana and Dr Rashad Cassim as deputy governors of the Reserve Bank. The appointments address two vacancies that had arisen as a result of the resignation in January 2019 of Deputy Governor Francois Groepe and the expiry of Deputy Governor Daniel Mminele's term at the end of June 2019.Read more... | Send to a friend […]

  • Closing the gap between growth businesses and alternative lenders
    on July 11, 2019 at 8:01 am

    Gary Palmer, CEO at Paragon Lending Solutions</span>As South Africa continues to drift in the doldrums of economic stagnation, the apparent disconnect between traditional lenders and entrepreneurs seems to be widening. This is especially highlighted when it comes to growth finance, with many business owners unaware of products such as mezzanine finance and, even if they know about it, are unaware how to access it.Read more... | Send to a friend […]

  • Grobank appoints new CEO
    on July 8, 2019 at 1:05 pm

    Grobank is pleased to announce the appointment of Bennie van Rooy as Chief Executive Officer (CEO) with effect from 1 July 2019. The appointment is a strong statement that demonstrates the bank's determination to execute its stated growth strategy, which is aimed at driving the food and agri-business banking, business banking, SME and alliance banking segments of the bank.Read more... | Send to a friend […]

  • Coronation shines light on unseen spending this Savings Month
    on July 5, 2019 at 1:01 pm

    To mark National Savings Month this July, Coronation is on a mission to inspire South Africans to scrutinise their saving and spending habits and shine a light on the unseen ways in which we are unnecessarily spending money that could rather be invested for growth.Read more... | Send to a friend […]

  • Evolution of ANC economic policy sheds light on squabble over the central bank
    on July 4, 2019 at 5:00 am

    Debate about SA Reserve Bank’s mandate must be done in a more considered manner, informed by evidence. Shutterstock</span>The recent squabble over the mandate of the South African Reserve Bank(Sarb) has very little to do with real economic policies. It is rather emblematic of the intensely polarised levels of political distrust that currently exists within the African National Congress (ANC), the governing party. Compounding the problem is the lack of any coherent grand vision from the post-apartheid leadership of the ANC about the road they wish South Africa to embark on.Read more... | Send to a friend […]

  • Fintech is the new normal
    on July 3, 2019 at 8:22 am

    Nigel Green, founder and CEO of the deVere Group</span>More than half of banking and financial services customers around the world use fintech products and services, according to a new global poll.Read more... | Send to a friend […]

  • High Court rules in favour of the NCR on common law set-off
    on July 2, 2019 at 8:34 am

    Nomsa Motshegare, chief executive officer of the NCR</span>The High Court in Johannesburg has ruled in favour of the National Credit Regulator (NCR) against Standard Bank that the common law set-off does not apply to credit agreements subject to the National Credit Act (NCA). This follows an application for a declaratory order brought by the NCR against Standard Bank seeking legal clarity on the effect of section 124 of the NCA on the common law set-off.Read more... | Send to a friend […]