ASL at Stellenbosch University Career Fair 2024
On 6 August, ASL proudly participated in Stellenbosch University’s annual Career Fair, engaging with a dynamic group of aspiring graduates eager to embark on their professional journeys. Our team connected with talented students, sharing insights about the exciting SAICA, SAIPA and CIMA graduate programmes available at ASL. We were impressed by the enthusiasm and potential […]
Did you know? Five Xero features to boost your efficiency
Xero is more than just accounting software; it is a powerful tool that can significantly enhance your efficiency and accuracy in managing your finances. Here are five essential features you may not know about, designed to streamline your workflow: 1. Xero’s VAT201 function Did you know that you can file your VAT returns directly from […]
Beneficial ownership reporting: What is new and relevant
On 1 April 2023, the Companies and Intellectual Property Commission (CIPC) launched its Beneficial Ownership Register. All corporate vehicles registered with the CIPC – including private companies, close corporations, non-profit companies, state-owned companies, personal liability companies, and public companies – are required to file their beneficial ownership declarations. This requirement stems from the General Laws […]
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 […]
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 […]
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 | 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 […]