December 2016

Mandatory Audit Firm Rotation is in the News – Will it Apply to You?

There have been many articles in the financial press over mandatory audit firm rotation (MAFR). This followed an announcement by the Independent Regulatory Board for Auditors (IRBA) that they intend to implement MAFR in South Africa. MAFR is intended to strengthen auditor independence to enhance audit quality. There is no universal acceptance or rejection of

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Don’t Miss Your Deadline for Employment Equity Reports

Failure by “designated” employers to lodge their employment equity reports on time risks severe penalties, with first offenders risking a fine of the greater of R1,5m or 2% of turnover (increasing to the greater of R2,7m or 10% of turnover for serial offenders). Lack of enforcement in the past (apart from a few high-profile exceptions)

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Beware of Trump’s Victory – Hard Economic Times Loom for SA

Donald Trump will soon be the 45th President of the United States. So far he is still threatening to implement his populist campaign promises (e.g. partially repeal Obamacare, tear up trade agreements and deport 11 million illegal immigrants) and has appointed a hard-line conservative to a senior position in the White House. The American economy

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