KPMG SA fights for survival as public image shattered

KPMG SA fights for survival as public image shattered

KPMG’s South African unit is flying in trouble shooters from around the globe and hurriedly meeting clients to stem any further loss of business after becoming embroiled in three evolving scandals. This is according to a report on Moneyweb. Over the past eight months, the auditor issued a public apology for work done for the politically […]

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How to survive a SARS audit

The recent developments at the South African Revenue Service (SARS) promises to cause a shake-up for many unsuspecting taxpayers. They are short on budget and the general perception is that there has been a lapse in taxpayer morale. The SARS audit teams will undoubtedly start in earnest with the targeting of taxpayers to see how […]

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ICA – Heavier compliance may be on horizon for professional accountants

FICA – Heavier compliance may be on horizon for professional accountants

The proposed inclusion of professional accountants into a schedule of the Financial Intelligence Centre Act (FICA), making them accountable institutions, will have major repercussions for the accountancy industry. The Financial Intelligence Centre has identified the sector as being “vulnerable” to money laundering and terror financing activities. Accountable institutions Institutions identified in Schedule 1 to the […]

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Accountants vs computers

Can Computers Replace Human Accountants?

“The secret lies in embracing the technological advances without sacrificing the values and ethics that sustains and defines the profession,” says Jeanne Viljoen, Project Director: Practices at the South African Institute of Chartered Accountants (SAICA). “Don’t fear technology – embrace it and use it wisely. By embracing technology, the profession can provide deeper insight to […]

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Steinhoff investors voted to absolve directors of liability

More than 98% of Steinhoff International’s shareholders voted to discharge all of the directors and supervisory board members from liabilities at the group’s annual general meeting (AGM) in March 2017. The existence of the little-known resolution has raised concern that shareholders may not be able to take legal action against board members. The Public Investment Corporation […]

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CEO Salary

Chief Executive Officer (CEO) Salary

A Chief Executive Officer (CEO) earns an average salary of R1,060,398 per year. The highest paying skills associated with this job are Strategy Development, Financial Modeling, Leadership, and Business Strategy. Job Description A chief executive officer (CEO) is someone who is in charge of an organization and normally makes the vast majority of all business […]

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Mastercard, Facebook Messenger to provide technology to small businesses in Africa

Mastercard will use Facebook Messenger to provide technology to small businesses in Africa and Asia to drive affordable acceptance of electronic and mobile payments. At the recent Mobile World Congress, Mastercard announced that  access to digital payments will help these businesses expand to new markets, and unlock financial services and products that enables them to grow their […]

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VAT clawback

No further extension on the VAT claw back relief

Background Where a property developer constructed residential units for sale and these units are temporarily let out as a result of the adverse economic conditions the developer had to declare the output vat on a deemed supply of such units. This imposition of VAT on the deemed supply is based on the open market value […]

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Professional Development

An Entrepreneurial Approach To Learning

The learning journey to a CA(SA) is clear. Training contracts have abundant learning opportunities and professional environments provide role-based learning opportunities. Entrepreneurial learning is self-driven and determined on immediate skill requirements to sustain business As the professional journey evolves, the ‘formal’ learning opportunities become fewer and a ‘self-driven’ learning approach is imperative. Self-driven learning is […]

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