Archive
IRBA draws attention to the Key Audit Matters in auditor’s reports as it relates to COVID-19

Johannesburg, Thursday, May 14, 2020 –  In light of the COVID-19 pandemic and restrictions arising from lockdown on businesses in South Africa, there has never been a more important time for investors and other stakeholders to pay attention to the Key Audit Matters (KAMs) communicated in the auditor’s report issued by registered auditors on financial statements. […]

South Africa’s Proposed Covid-19 Disaster Management Tax Relief

By Jana Botha, Consultant, Baker McKenzie, Johannesburg The National Treasury recently issued the draft Disaster Management Tax Relief Bill (Bill) for public comment by 15 April.  The draft Bill, together with its explanatory memorandum, provides clarity with regards the tax relief measures President Cyril Ramaphosa announced on 23 March.  The following is a summary of the […]

VAT Exemption and Duties Rebate for Essential Goods: Covid-19 National Disaster

by Jana Botha , VAT Consultant, and Virusha Subban, Partner and Head of Indirect Tax, Baker McKenzie Johannesburg The magnitude and severity of the COVID-19 outbreak led the South African Government to declare a national disaster under the Disaster Management Act 2002 on 15 March 2020. As a result, Item 412.11 of Schedule 1 of […]

SMEs: protect your data by moving to the cloud

In South Africa, 75% of CEOs stated that the increasing complexity of cyber threats is shaping their businesses. This is according to the PwC 23rd Annual CEO Survey 2020 which also highlights the growing public concern over data privacy and vulnerabilities in supply chains and business partners. However, with many businesses working from home to […]

Innovation key for SMEs during tough times

The evolving COVID-19 situation is changing the way most businesses are operating in South Africa, such as working remotely. Although this has already started happening in some companies following the rise of the fourth industrial revolution, businesses are doing all they can to start making changes so that they can continue operations. Lauren du Plooy, director […]

PAFA News

Final Pronouncement: Alignment of Part 4b of the Code to ISAE3000 (Revised) The International Ethics Standards Board for Accountants (IESBA) released Revisions to Part 4B of the Code to Reflect Terms and Concepts Used in ISAE 3000 (Revised). Part 4B of the International Code of Ethics for Professional Accountants (including International Independence Standards) (the Code) comprises […]

Boom your firm: here's what you need to do

There’a an old adage in business: eat lunch or be lunch. Those professional firms that are stuck in their comfort zones are very easy targets for the hungry. If your firm is drifting along with no plan for the future, then chances are you are going to find some new firm on the block that […]

Maybe there is justice after all for liquidated guest lodge

Here is an interesting case of a Johannesburg guest lodge that was liquidated last year by Nedbank even though it never borrowed a cent from the bank. How did that happen? Acts Online decided to take a look.

Cut the paper work with Sage's HR Management

Sage recently launched HR Management, aimed at mid-size and large enterprises in the manufacturing, distribution, services and healthcare industries that are keen to integrate HR with finance.

Government marching towards a fiscal cliff

Government is running out of money, according to a recent study by the SA Institute of Race Relations.