IFRS for SMEs: Proposed amendments
IFRS for SMEs (International Financial Reporting Standard for Small and Medium-sized Entities) is a set of accounting standards specifically designed for small and medium-sized enterprises (SMEs). It provides a simplified framework compared to full IFRS, aiming to make financial reporting more accessible and less burdensome for smaller entities. Key features of IFRS for SMEs include: […]
Promotion of Access to Information Act (PAIA): What you need to know
Background Promotion of Access to Information Act (“PAIA”) The Promotion of Access to Information Act, No. 2 of 2000 (“PAIA”), as amended, is the national legislation which was enacted in accordance with section 32(2) of the constitution. The aim of PAIA, is to foster a culture of transparency and accountability in public and private bodies. […]
Foreword
Dear reader Over the past few months, the world has faced numerous uncertainties, including those from a South African perspective: uncertainties around the government’s budget, interest rates, exchange rates, fuel prices, imports and exports due to the condition of our ports, and the national elections. The business sector, in particular, has also been confronted with […]
Voorwoord
Geagte leser Die wêreld is die afgelope paar maande met talle onsekerhede gekonfronteer, ook vanuit ‘n Suid-Afrikaanse perspektief: onsekerhede oor die regering se begroting, rentekoerse, wisselkoerse, brandstofpryse, in- en uitvoere weens die toestand van ons hawens en die nasionale verkiesing. Die sakewêreld spesifiek is verder gekonfronteer met drastiese veranderinge in belastingwetgewing rondom trusts, nuwe wetgewing […]
The true cost of a data breach
In the aftermath of a data breach, expenses rapidly accumulate. Governance, Risk, and Compliance (GRC) plays a key role in safeguarding your bottom line. Data breaches are like financial tsunamis. In the aftermath of an attack, expenses can rapidly accumulate, wreaking havoc on your organisation’s bottom line. While the initial hit is painful, it’s the […]
Know the difference between an NPO, NPC & PBO
In South Africa, entities that operate on a not-for-profit basis can be classified and registered as several organisational forms: Non-Profit Organisation (NPO), Non-Profit Company (NPC), and Public Benefit Organisation (PBO). Each type serves a unique role in society and has specific legal and tax implications. This article explores the differences between these three types of […]
Ken die verskil tussen ‘n NPO, NPC & PBO
In Suid-Afrika kan entiteite wat op ‘n nie-winsgewende basis funksioneer, geklassifiseer en geregistreer word as verskeie organisasievorme: Nie-winsgewende Organisasie (NPO), Nie-winsgewende Maatskappy (NPC) en Openbare Weldaad Organisasie (PBO). Elke tipe dien ‘n unieke rol in die samelewing en het spesifieke regs- en belastingimplikasies. Hierdie artikel verduidelik die verskille tussen hierdie drie tipes entiteite, hul regsraamwerke, […]
ASL attends 2024 Xero Roadshow in Cape Town
On 8 May 2024, our Business Solutions team, accompanied by all our partners, had the privilege of attending the Xero Roadshow in Cape Town. This annual event is a premier gathering for accounting and bookkeeping trailblazers to explore transformative tools, gain fresh insights, and connect with the vibrant Xero community. Our aim was to discover […]
CIPC | Voordelige eienaarskap verslagdoening en jaarlikse opgawes
In reaksie op Suid-Afrika se insluiting op die gryslys weens nie-nakoming van internasionale standaarde rakende die voorkoming van geldwassery en die finansiering van terrorisme, het die Parlement die Wysigingswet (“Wysigingswet”) op die Algemene Wette (Anti-Geldwassery en Bekamping van Terrorisme Finansiering) goedgekeur. Die Wysigingswet verplig die Maatskappye en Intellektuele Eiendom Kommissie (“CIPC”) om maatskappye en beslote […]
CIPC | Beneficial ownership reporting and annual returns
In response to South Africa being greylisted due to non-compliance with international standards relating to the prevention of money laundering and terrorist financing, Parliament enacted the General Laws (Anti-Money Laundering and Combating Terrorism Financing) Amendment Act (“the Amendment Act”). The Amendment Act mandates the Companies and Intellectual Property Commission (“CIPC”) to oblige companies and close […]