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Month: January 2019

The Public Audit Amendment Act: Groundbreaking for South Africa if properly implemented

On 21 November 2018, the 2017/2018 consolidated national and provincial audit outcomes report was released, which indicated a discouraging fourth consecutive year of regressive compliance with laws and regulations. Fittingly, the long-awaited Public Audit Amendment Act, Act 5 of 2018

SAAudit January 21, 2019January 21, 2019 Audit Read more

2018: A year in tax

As 2018 has come to an end, we reflect on some of the significant highlights (and lowlights) of the 2018 tax year. Davis Tax Committee concludes its work The Davis Tax Committee (DTC) was appointed by the Minister of Finance

SAAudit January 21, 2019January 21, 2019 Tax Read more

Management’s responsibility

Throughout the audit of a set of financial statements, the phrase “management/director’s responsibility” appears. It is included in the engagement letter, the financial statements and the auditor’s report. But what does it mean? Management is responsible for the management of

SAAudit January 21, 2019January 21, 2019 Financial Read more

Helpful tax resources

South African taxes are inherently complex and often involve interpretation, consulting and in exceptional cases, a fair amount of educated guessing on exactly what the legislature intended when the various acts were drafted. However, in order to assist taxpayers through

SAAudit January 21, 2019January 22, 2019 Tax Read more

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