IFRS new sustainability standards were published earlier this week. Experts explain that, while not mandatory, there is a strong business case for using them. 

Unlock Africa's economic potential with ISSB standards! Learn how responsible implementation balances sustainability and growth, driving infrastructure investment, innovation, and inclusive development.

Namibia is close to comprehensively regulating both accountants and auditors, something which remains a pipedream in South Africa. Zaa Nashandi, from Namibia's audit regulator, explains the lessons they've learnt.

Audit partners and audit committee chairs often changed their negative views regarding Mandatory Audit Firm Rotation (MAFR) once they’ve implemented it, according to a recent study. However, the study also confirmed that costs of transitioning are high and cut into audit firms’ profitability. 

Following a court ruling, the IRBA CEO intends to reinstate obligatory audit firm rotation. Parliament requested that statute be amended. MAFR is not yet extinct.

The IEC now publishes political party financial statements. But does this increase transparency if information about two-thirds of the funding parties receive is missing?  

Extreme maintenance underspend, including on water infrastructure, a lack of basic accounting controls and persistently bad audit results. The latest Auditor General report shows that cholera outbreaks are to be expected.

The US accounting shortage can be addressed by outsourcing accounting and auditing tasks to highly skilled South African professionals. With language proficiency, global business understanding, and expertise in accounting and tax fundamentals, South African accountants offer a cost-effective solution, scalability, and round-the-clock support, benefiting both nations' economies.

IRBA’s CEO wants to implement a 2013 World Bank recommendation to regulate professional accounting bodies and is prepared to serve as this super regulator. The auditor general disagrees and believes more collaboration is needed. 

Many accountants, driven by high standards and a desire for perfection, often impose unrealistic auditing-level requirements on entities that are ill-prepared to meet them.

Stefan Olivier has nurtured his accounting firm Profinan Services, and its clients for almost two decades. Recently, some clients have grown large enough to require audits and complex technical assistance. 

Faced with the choice of losing these clients to larger firms or undertaking risky expansion, Stefan found a third option.

Managing director of SNG Grant Thornton admitted guilt in disciplinary charges related to the 2016 Eskom audit. This after Minister Pravin Gordhan wrote to IRBA.

In an exclusive interview, CIPC commissioner Rory Voller breaks down the newly enacted beneficial ownership register for companies and what it means for accountants. 

StatsSA reported consumer inflation, year on year at 7.1 percent. But for most South African households, inflation is far higher, with those earning less than R33 619 a year experiencing inflation above 10 percent

As part of our recent article looking at ChatGPT and AI’s effect on the future of accounting, we reached out to experts at PwC South Africa. This is the unabridged version of their email response which we’re publishing in the hope that it provides you with further insight.

Much of accounting and tax compliance involves repetition and follows predictable patterns. Large Language Models, such as ChatGPT, are trained through countless repetitions leading to superhuman pattern recognition.

Nicolas Boucher, a LinkedIn FP&A and efficiency influencer, and experts from PwC South Africa share their insights on whether ChatGPT heralds the decline of the accountant or whether it will free accountants from low-level tasks.

We would likely have no Gupta Leaks and no Zondo Commission without whistleblowing. 

Yet whistleblowers, who often come from accounting backgrounds, are being killed or have to flee the country. This article looks at five flaws in the current whistleblowing system.

The Auditor General reported progress on its new mission of recovering funds and holding accounting officers responsible powers to Parliament earlier this month. 

Tsakani Maluleke also gave insight into shortcomings in the accountability chain. 

The brain drain in South Africa is leading to a dearth of experience and expertise in the accounting and finance sector – as well as a wealth of opportunities for would-be CFOs.

The recently gazetted state of disaster regulations for the electricity crisis needs reinforcing if they’re to prevent looting.