News Articles and Press & media releases

Looking for funding to  become a chartered accountant? Thuthuka has you covered
Looking for funding to become a chartered accountant? Thuthuka has you covered
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Johannesburg, Tuesday 11 May 2021 – For the past 19 years, the Thuthuka Bursary has funded academically talented African and Coloured learners and students who want to become chartered accountants [CAs(SA)]. If you are one of them, don’t delay applications for the 2022 intake have just opened.
Corporate reporting is changing and it’s going to have an impact on your organisation Join Professor Mervyn King’s 5th Good Governance Academy Colloquium to see how
Corporate reporting is changing and it’s going to have an impact on your organisation Join Professor Mervyn King’s 5th Good Governance Academy Colloquium to see how
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Johannesburg, 7 May 2021 – The Good Governance Academy (GGA) will be hosting its 5th Colloquium focused on Enterprise Value Creation on Thursday 13 May 2021. The Colloquium aims to equip participants with an understanding of the need for sustainability reports and a single sustainability reporting standard; describe how and why sustainability reporting standards bodies are collaborating and merging; and interpret sustainability and enterprise value creation.
The COVID-19 Loan Guarantee Scheme extended by three months
The COVID-19 Loan Guarantee Scheme extended by three months
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Johannesburg, 4 May 2021 – The National Treasury, the South African Reserve Bank (SARB) and the Banking Association South Africa (arrangers) launched the Loan Guarantee Scheme (the scheme) on 12 May 2020, which made a maximum of R200 billion available for eligible businesses. The scheme was established to support small businesses that were experiencing financial distress because of the COVID-19 pandemic by providing them liquidity for their operating expenses, writes Thakhani Masindi, SAICA Project Manager for Members in Business Technical.
Let us work to make climate-related disclosures mandatory
Let us work to make climate-related disclosures mandatory
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Johannesburg, 15 April 2021 – New Zealand took bold, pioneering, legislative steps to make climate-related disclosure compulsory on 13 April 2021. By doing so, it has become the first country to introduce a law that will require banks, insurers, and investment managers to report the impacts of climate change on their business, writes Milton Segal, SAICA Senior Executive for Corporate Reporting.
The impact of technology on the audit product
The impact of technology on the audit product
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Johannesburg, 15 April 2021 – During SAICA’s consultation with stakeholders around audit reform and the perception of the causes of the current state of the auditing profession, the topic of the impact of technology on the audit product was raised. Specifically, with the technological advances in terms of robotics and artificial intelligence, questions were raised around why auditing practices and procedures have not followed suit in evolving, writes Hayley Barker Hoogwerf, SAICA Project Director for Audit & Assurance.
Practice governance: guarding against familiarity and misplaced trust
Practice governance: guarding against familiarity and misplaced trust
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Johannesburg, 15 April 2021 – As South Africa continues to fight its way through the economic challenges posed by COVID-19, it is important that the financial market system is seen to be stable and trustworthy in order to attract investments. Providers of capital need to have confidence in the quality and reliability of the financial information produced by entities. The auditing function is crucial in ensuring that there is trust in the financial markets and confidence in the quality and reliability of the financial information produced, writes Thandokuhle Myoli, SAICA Project Director for Audit & Assurance.
Quality Management: To Invest or not
Quality Management: To Invest or not
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Johannesburg, 14 April 2021 – The International Auditing and Assurance Standards Board (IAASB) has approved the new and revised suite of quality management standards. This requires that systems of quality management in compliance with International Standards on Quality Management (ISQM) 1 be designed and implemented by 15 December 2022 and the evaluation of the system of quality management required to be performed within one year by 15 December 2022, writes Hayley Barker Hoogwerf, SAICA Project Director for Assurance.
Preventative controls are key to support roll out of vaccines
Preventative controls are key to support roll out of vaccines
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Johannesburg, 07 April 2021 – In response to the pandemic in 2020, and to support and protect its citizens, the South African government took swift action to approve a multibillion-rand relief package. This relief package was meant to, amongst others, assist vulnerable households, enable the provision of additional medical facilities and the purchase of personal protective equipment, writes Natashia Soopal, SAICA Senior Executive for Public Sector and Enabling Competencies
Audit outcome indicates an urgency for accountability
Audit outcome indicates an urgency for accountability
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Johannesburg, 1 April 2021 – The Auditor General (AG), Ms. Tsakani Maluleke, released the 2019-20 national and provincial audit outcomes on Wednesday, 31 March 2021. The overall audit outcome reflects an improvement despite the challenges experienced by the impact of the COVID-19 outbreak which resulted in the legislated audit completion date for PFMA being moved from 31 July 2020 to 30 September 2020, writes Natashia Soopal, SAICA Senior Executive for Public Sector.
SAICA educational material on the accounting implications of the change in the corporate income tax rate
SAICA educational material on the accounting implications of the change in the corporate income tax rate
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Johannesburg, 31 March 2021 – The South African Institute of Chartered Accountants (SAICA) is pleased to announce that its Accounting Practices Committee (APC) has just released educational material on the application of IAS 12 and the concept of substantively enacted tax rates, writes Milton Segal, SAICA Senior Executive: Corporate Reporting.