Category Archives: Finance

In The News Again: Mandatory Audit Firm Rotation

Recently the head of the IRBA and the Finance Minister announced that this would commence on 1 April 2023. There has been a backlash to this by prominent bodies such as the King Committee, the Institute of Directors and the … Continue reading

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Blockchain Technology: New Potential in Financial Services

Bitcoin is currently the best known user of a blockchain platform, but expect many more varied uses to emerge. For example Calastone, which provides a platform for mutual funds (e.g. unit trusts) to trade in 34 countries, recently successfully replicated … Continue reading

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Lean Times Ahead: 6 Steps to Help You through Them

“We have seen better days” (Shakespeare) When you read that nearly 75% of the middle class experience financial difficulty and a similar percentage are in debt, it is time to worry. Add to this the economic difficulties the country is … Continue reading

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The money market trap

To the general public money market unit trust funds are safe and secure; a conservative, yet sensible investment that protects capital. This is a half-truth, as safety and security come at a cost. The cost? Inflation. The money market is … Continue reading

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You Will Retire, So Get Ready Now!

Benjamin Franklin once said the only certainties in life are death and taxes. To that you can add retirement (assuming the Grim Reaper doesn’t interfere earlier). Yet research shows that no more than 10% of us can retire comfortably. What … Continue reading

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Minimum Wages for Domestic Workers Increased

This year’s new minimum wages for all domestic workers are set out in the table at the end of this article. Who is covered? All domestic workers in South Africa working in a private household People employed by employment services … Continue reading

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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 … Continue reading

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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 … Continue reading

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Inflation’s different effects on different income groups – The danger for South Africa

Each month Statistics SA releases the inflation figure (CPI). Currently it is 5.9% which is a considerable improvement on February’s 7%. What is interesting is the CPI figure is a composite of five quintiles of income groups – from the … Continue reading

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