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CURBING A GLOBAL PHENOMENON
By: Anton van Heerden To create a sustainable business and prevent economic crimes such as fraud, the best place to start is to understand the human psyche. Believing that a person capable of crime can be stereotyped is probably the first mistake. Typically, most small businesses don’t believe that they are susceptible to fraud and
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BONUSES PAID TO DIRECTORS OF PRIVATE COMPANIES
Accountancy SA Members are reminded that the tax treatment of variable remuneration changed with effect 1 March 2013. The position is that both the accrual to the employee and the deduction of the expenditure incurred by the employer will take place on the date during the year of assessment on which the amount is paid
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GOOD GOVERNANCE – WHAT IS THAT?
When Enron filed for bankruptcy in December 2001 many did not realise then that the event would become one of the milestones in the story of corporate governance. The word Enron has become synonymous with business failure caused by poor corporate governance. We have become more informed of the early signs of when a business
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COMMERCE WITHOUT MORALITY
COMMERCE WITHOUT MORALITY IS NOT ONLY USELESS BUT POSITIVELY DANGEROUS In the workplace, it is easy to find oneself in a moral dilemma without even realising how you got there. The workplace – like a home – can be made up of various different facets. The industry, management, shareholders, colleagues and consultants all play a
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ETHICS AND CORPORATE GOVERNANCE
Ethics has become a permanent and prominent feature of corporate governance in South Africa. According to the Kind Report on Corporate Governance, there are three key responsibilities that directors, collectively and individually, must discharge with regard to ethics. Ethics has become a permanent and prominent feature of corporate governance in South Africa. This growth in
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DEFINITION OF ‘ETHICS’ DECONSTRUCTED
Ethics are more important today than ever before and that its importance in the business world will increase exponentially in future. Generally speaking, ethics or moral philosophy is a collective of philosophical principles that include defining, defending and recommending concepts of what are considered right and wrong behaviour. While SAICA’s Code of Professional Conduct (CPC)
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MORE WOES FOR MITSUBISHI MOTORS
Tokyo: Mitsubishi Motors’ fuel economy scandal broadened yesterday as media reported the vehicle maker had submitted misleading data on at least one more model than disclosed and likely several others. Japan’s sixth-largest vehicle maker admitted this week it had overstated the fuel efficiency of 625 000 cars, wiping off around 40% of its market value,
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HONESTY – ALWAYS THE BEST POLICY
A wise man once said: ‘Whoever can be trusted with very little can also be trusted with much, and whoever is dishonest with very little will also be dishonest with much.’ Albert Einstein echoed this sentiment in saying: ‘Whoever is careless with the trust in small matters cannot be trusted with important matters.’ We all
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