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MANAGING YOUR BUSINESS BANK ACCOUNT
The next logical step after properly registering your business is to open up a bank account in the new company’s name. Remember you are now a totally separate entity from your business and as such you cannot (and should not) mix the monies of the two in fact you are required by law to have
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AUDIT FIRMS NEED TO ENCOURAGE SMALLER CLIENTSTO ADOPT IFRS FOR SME’S
Relief has been extended to small and medium enterprises (SMEs) with the introduction of International Financial Reporting Standards (IFRS) for SMEs, yet overburdened businesses are being denied this much-needed respite, as many auditors are not encouraging their clients to adopt the new standard in place of full IFRS. The release of IFRS for SMEs was
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CUTTING THE CLUTTER
The issue of ‘disclosure overload’ is not new, neither is it an issue for preparers of IFRS financial statements only. In fact, a number of standard-setters and regulators around the world are attempting to find solutions to the issue of disclosure overload. The International Accounting Standards Board (IASB) has found that financial statements contain too
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SOUTH AFRICA MAINTAINS TOP POSITION FOR AUDITING AND REPORTING STANDARDS
South Africa has maintained the number one position for its strength of auditing and reporting standards for the sixth consecutive year. You can find more information on this ranking in the World Economic Forum’s Global Competitiveness Report 2014 – 2015. http://www3.weforum.org/docs/WEF_GlobalCompetitivenessReport_2014-15.pdf
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