The rules around Public Interest Entities (PIEs) are changing, and it’s time for accountants and businesses to take notice. The International Ethics Standards Board for Accountants (IESBA) is updating the definition of PIE and at the same time accounting standards are also aligned, with final changes expected by June 2025. These updates include a broader PIE definition, new firm-level assessments, and a shift from "Listed Entity" to "Publicly Traded Entity (PTE)." The impact could be big, especially for African regulators still developing their accounting frameworks. Now is the time to get involved and ensure these changes work in practice before they become official!

Starting a new role as a bookkeeper requires a solid understanding of financial operations, compliance, and efficient bookkeeping practices. This guide provides essential insights into key responsibilities, from understanding the business model and reviewing bookkeeping systems to managing compliance and cash flow. Effective communication with external accountants, mastering reconciliations, and setting clear job responsibilities help ensure accuracy and efficiency. Additionally, staying updated with industry changes and adopting modern accounting tools can enhance performance. By implementing these strategies, bookkeepers can establish themselves as indispensable financial professionals, contributing to the overall success of their organisation.

Bookkeeping is the foundation of financial success, transforming raw transactions into actionable insights. By maintaining accurate records, bookkeepers ensure compliance, clarity, and a solid base for accountants to strategize and drive business growth. Master the art of bookkeeping to unlock financial stability and long-term success.

Ever wondered how a single event after the reporting period could reshape the story your financial statements tell? Imagine a fire exposing hidden inventory damage or a last-minute acquisition transforming your company’s future. These moments aren’t just dramatic—they’re crucial to how your financial health is portrayed. Our article looks at the critical difference between adjusting and non-adjusting events, guided by IAS 10 and Section 32 of IFRS for SMEs. With real-world examples and practical insights, we’ll help you navigate these complexities and ensure your financial disclosures are accurate, transparent, and trustworthy.

The going concern principle is a cornerstone of financial reporting, shaping how businesses assess their ability to operate over the next 12 months. This article explores the critical guidance from IFRS and the Companies Act 71 of 2008, practical tools like cash flow analysis and stress testing to measure going concern, and actionable steps when a business faces financial uncertainty. Whether it's transitioning to liquidation accounting or engaging stakeholders, understanding these principles ensures transparency, compliance, and proactive decision-making for long-term viability.

Leases play a pivotal role in SME operations, offering asset access with flexible terms. IFRS for SMEs simplifies lease classification and reporting for lessees and lessors. This article provides a clear framework, practical examples, and disclosure requirements to ensure compliance with ease. Stay ahead in financial reporting by familiarising yourself with IFRS for SMEs.

IFRS 16 revolutionises lease accounting, bringing leases onto the balance sheet and transforming financial transparency. Dive into this article to uncover how businesses now recognise Right-of-Use assets and lease liabilities, the steps to compliance, and the practical implications for financial reporting. Whether you're navigating complexities or streamlining operations, this article equips you with the tools to master IFRS 16 and stay ahead in the world of accounting.

Who can examine financial statements for public schools? This function isn't limited to registered auditors. According to the Schools Act of 1996, the School Governing Body (SGB) can also appoint qualified accounting officers or practitioners approved by the Member of the Executive Council (MEC). Learn more about how as an accounting officer you can assist public schools in our article.