POPI has been signed into law, however the actual commencement date of the Act is still to be determined.
President Jacob Zuma signed the Protection of Personal Information Bill (“POPI”) into law on 27th November 2013. The actual commencement date of the Act is still to be determined by the President in the Government Gazette.
The retail banking industry in South Africa is a highly competitive market. The depressed credit market coming out of the financial crisis of 2009 has resulted in local banks embarking on a more focused undertaking to increase revenue.
On 19 November 2013, the IASB issued a new general hedge accounting standard – part of IFRS 9 Financial Instruments (2013) – which will align hedge accounting more closely with risk management.
The world is changing fast, requiring insurers to put a greater emphasis on knowing their customers. Learn more about the four attributes of a valued insurer, and how they can support long-term growth.
This article examines the role Human Resources can play beyond the usual hiring and firing, to add strategic, measurable value to the business.
SARS issued Binding General Ruling 14 (BGR14) on 22 March 2013, which deals with the VAT treatment of supplies in the short-term insurance industry.
The South African Revenue Service (SARS) recently issued BGR 14 in respect of the VAT treatment of supplies made and received by short-term insurance companies.
There are several reasons to be optimistic about Africa. According to a World Bank report, Sub-Saharan Africa’s annual Gross Domestic Product (GDP) growth is expected to reach 5.6 percent by the end of 2013 and perhaps 6 percent in 2014.
The global asset management industry has experienced significant turmoil in the last five years, driven by the global financial crisis in 2008. However, Africa is forecast to be a driver of significant growth for fund management industry globally.
The microfinance sector in South Africa is a large and growing sector of the national economy.
At the end of July 2013, the International Auditing and Assurance Standards Board (IAASB) released a suite of exposure drafts which propose to revise the auditor’s report on financial statements and to make the auditor’s report more informative.
The insurance industry has, traditionally, been misunderstood and is perceived by many as a necessary evil. The perception is all but alluring - a male dominated industry with staid values and principles, poor market conduct and vanilla offerings.
FATCA is a reality and is set to impose itself on South Africa’s regulatory framework, and will a substantial impact on the operations of all affected financial institutions.
Following the SAICA Retirement Fund Meeting held on 3 September 2013, the Financial Services Board (FSB) has advised that revised retirement fund annual financial statements will be effective for year-ends from 31 January 2013.