News Articles and Press & media releases

Enhancing ethics through legislation
Enhancing ethics through legislation
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Johannesburg, 14 October 2020 – The Auditing Profession Amendment (APA) Bill was issued by the Standing Committee on Finance (SCOF) for comments on 23 September 2020.
Steering towards safety: Chartered Accountants Worldwide members make an impact in global COVID-19 response
Steering towards safety: Chartered Accountants Worldwide members make an impact in global COVID-19 response
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Johannesburg, 14 October 2020 - As Governments across the world implemented a range of measures to slow the spread of COVID-19, Chartered Accountants Worldwide members were there to provide support and resources.
Insurers’ IFRS 17 implementation challenges and insights
Insurers’ IFRS 17 implementation challenges and insights
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Johannesburg, 9 October 2020 – The IFRS 17 Insurance Contracts (IFRS 17) standard has been deferred by two years from the initial effective date to now being from annual reporting periods beginning on or after 1 January 2023. This has mainly been due to amendments that were aimed at helping companies implement the standard and make it easier to explain their financial performance. Although the deferral could possibly mean additional implementation costs being incurred, it has been well received by the industry as there was pressure to finalise their systems and the additional time provides an opportunity to parallel run IFRS 17 and note differences and impact from IFRS 4 as well as ensuring the processes are not rushed. SAICA recently hosted an event in this regard and Kedibone Pilusa, SAICA Project Director for Members in Business, shares some of the challenges and insights noted.
The Rational Purpose Requirement: Impact on South Africa
The Rational Purpose Requirement: Impact on South Africa
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Johannesburg, 5 October 2020 – The release of the International Standard of Assurance Engagements 3000 (Revised) in December 2015 introduced the Rational Purpose Requirement, which required that an assurance practitioner cannot accept an assurance engagement when the information needs of the intended users will not be met. This impacts both the assurance practitioner and the report preparer, as an incomplete reporting scope will always result in an incomplete assurance scope. In other words, rationale purpose requires an informed view of the information needs of the users.
Accountability and judgement – Two of the most significant competencies required for this new world
Accountability and judgement – Two of the most significant competencies required for this new world
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Johannesburg, 10 September 2020 - The core of the accounting profession is embedded in its very name – ‘account’. The word has multiple meanings all surrounded by one common theme.
Accounting ethics: Why character matters
Accounting ethics: Why character matters
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Johannesburg, 8 September 2020 - We generally assume that a person can be good at their job without also being a good human being. We can easily imagine an exceptional golfer, or mathematician, or chef, who isn’t at the same time a saintly person.
SAICA announces the finalists for the 2020 Top-35-under-35 Chartered Accountants competition
SAICA announces the finalists for the 2020 Top-35-under-35 Chartered Accountants competition
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Johannesburg, 4 September 2020 - The South African Institute of Chartered Accountants (SAICA) has announced its finalists for the 2020 Top-35-under-35 Chartered Accountants competition.
Financial statements to undergo a facelift
Financial statements to undergo a facelift
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Johannesburg, 3 September 2020 - How many times have shareholders and other users of financial statements questioned the quality of financial information that companies provide in financial statements? The manner in which financial information is presented and disclosed could impact how the users of financial statements perceive the content and context provided in those financial statements. Financial statements are an important tool for communicating the financial performance, financial position and cash flows of a company. In addition, financial statements enable users to form an opinion, for example, on the liquidity and solvency of the company. They are also a mechanism which can be used to hold management accountable for the resources entrusted to it by shareholders, writes Bongeka Nodada, SAICA Project Director: Financial Reporting.
SME’s Reporting Revival and COVID-19’s influence
SME’s Reporting Revival and COVID-19’s influence
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Johannesburg, 26 August 2020 - In 2019, the International Accounting Standards Board (IASB) sent out a Request for Information (RFI) to assess the market’s appetite for the potential comprehensive review and overhaul of financial reporting for Small Medium Enterprises (IFRS for SMEs), writes Milton Segal, SAICA Senior Executive: Corporate Reporting.
Anoj Singh excluded from SAICA membership following conclusion of his disciplinary hearing
Anoj Singh excluded from SAICA membership following conclusion of his disciplinary hearing
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Johannesburg, 21 August 2020 – In July 2019, the South African Institute of Chartered Accountants (SAICA) suspended Mr. Anoj Singh’s membership pending the outcome of his disciplinary hearing. Mr. Singh’s disciplinary hearing concluded in July 2020 and the SAICA Disciplinary Committee has made its final ruling, finding him guilty of 12 of the 18 charges proffered against him.