Future predictions: one-third of current jobs will be displaced in a decade

Saxo Bank is a sober banking institution, not given to wild conspiracies or headline-grabbing predictions. But its latest Outrageous Predictions has some interesting, well, predictions for 2021 Here’s a sample: Revolutionary fusion design catapults humanity into energy abundance: it concludes that alternative and green energies are not the answer to humanity’s needs. The world urgently […]

Borrowing increased by 32% to supplement eroding incomes – survey

Payment holidays and successive repo rate reductions provided South African consumers significant relief in 2020, but for those reliant on unsecured debt the respite has proved short lived. This is one of the findings from a quarterly analysis of applications to the country’s largest debt counsellor. DebtBusters’ Q4 2020 Debt Index, was published today as […]

Business breathes again as Ramaphosa relaxes lockdown restrictions

President Cyril Ramaphosa insisted no-one would be forced to be vaccinated in a speech to the nation on Monday. He also eased lockdown restrictions such as the sale of alcohol, the right to hold religious gatherings of no more than 50 people indoors, and the reopening of public spaces such as beaches and parks. Masks […]

Why Covid vaccines should not be seen as an opportunity for profit

By Nicolaas van Wyk and Ciaran Ryan If news reports are true that Pfizer and BioNTech have offered health care workers across Africa 50 million vaccine doses at a discounted rate of $10 (R152) a dose, this gives us some idea of what it will cost to inoculate the entire population of about 60 million […]

Ramaphosa announces extension of Level 3 lockdown – but no hard lockdown for businesses

On Monday President Cyril Ramaphosa extended the Level 3 lockdown already in place until 15 February, with borders being closed to international travel. The alcohol ban will also remain in place. The country has had 4 600 Covid-related deaths since the start of 2021, and there are currently more than 15 000 people with Covid in hospitals […]

The extended lockdown will destroy South Africa – Wits Professor

“As professionals we need to take up our leadership responsibilities and do the right thing – even if it’s unpopular, we need to convince our government to end the lockdown. We did what we needed to do but must now move on. END THE LOCKDOWN” says SAIBA CEO Nicolaas van Wyk. From My Broadband Decision-making […]

Unscientific and nonsensical: Top scientist slams government’s lockdown strategy

From News24: The government’s phased exit from the lockdown is nonsensical and unscientific, says one of the top scientists advising it.   Dr Glenda Gray, a member of the Ministerial Advisory Committee (MAC) and chairperson of the South African Medical Research Council (SAMRC), said the lockdown should be eradicated completely, and that non-pharmaceutical interventions (NPI), such […]

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. […]

Going concern: Business as unusual

From InTheBlack: The business sector’s “going concern” assessment is generally a rather routine practice, but in extraordinary times no process is as simple as it once was. Looking at least 12 months ahead to assess and establish whether an entity remains a “going concern” is a routine exercise conducted as part of preparing annual financial […]

The financial reporting implications of Covid-19

From the International Federation of Accountants (IFAC): The Covid-19 pandemic crisis and its economic effects mean that investors and other stakeholders need high-quality financial information more than ever. To this end, accountancy firms, regulators, IFAC member organizations and others have quickly made available advice and guidance on the accounting and financial reporting requirements that will […]