Let’s Talk About Quality and What it Means for Your Practice
Wondering about how to keep your accounting practice’s work consistent, trusted, and up to standard—without getting buried in red tape? This article unpacks the essentials of ISQM 1 in a clear, friendly way, showing how quality management can actually make your life easier. We look at why quality matters and how to apply basic principles to fit your practice in a practical, down-to-earth manner.
PAIA Reporting Doesn’t Have to Be Hard—Here’s What You Need to Know
Did you know that all private and public bodies—including your clients’ businesses—must submit a PAIA reports before 30 June 2025? Whether or not they received any information requests, a report is still required. As their accountant, you can help clients register their Information Officer, prepare a PAIA Manual, track access requests, and submit reports correctly and on time. It’s a great way to add value, support good governance, and help clients stay compliant with the law.
Working Beyond 60: When is it Legal to Dismiss an Employee?
Retirement may seem like a straightforward milestone, but what happens when an employee continues working beyond their agreed retirement age? Can an employer dismiss them at any time, or are there legal limits? A recent Constitutional Court ruling has reshaped the way businesses must handle retirement dismissals, and the implications could be costly for those who get it wrong. Whether you're an employer, HR professional, or accountant advising businesses, understanding these legal shifts is crucial. Read on to uncover the key takeaways and ensure your clients stay compliant with the law!
The Essential Guide to Leave Management
Managing employee leave is essential for compliance, financial accuracy, and workforce productivity. This article provides business accountants with a clear and practical guide on how to help their clients implement structured leave management systems that align with South African labour laws to ensure compliance while avoiding legal risks. This is a must-read for accountants looking to help businesses stay compliant, manage costs, and enhance productivity.
Accounting Practices as Accountable Institutions: Building an RMCP and Applying a Risk-Based Approach
When an accounting practice is registered with the Financial Intelligence Centre (FIC), it plays a crucial role in safeguarding the financial system against money laundering, terrorist financing, and other financial crimes. This article explains the responsibilities of implementing a risk based approach with practical guidance on the specific risks accountants may encounter.
Accountants as Accountable Institutions - What You Need to Know
Do accountants fall under accountable institutions? There has been much uncertainty regarding when an accounting practice must register with the FIC. At the end, if your business must register you have act now. In this article we explain the FIC’s registration and reporting requirements in a practical way.
Accountants’ Role in Fighting Corruption
With corruption costing the global economy trillions of dollars annually, accountants play a crucial role in promoting ethical behavior, transparency, and compliance within businesses. This insightful piece outlines practical ways for accountants to prevent corrupt practices, identify red flags, and help establish strong anti-corruption programs. A must-read for accountants seeking to safeguard their organizations and contribute to a fairer business environment.
Virtual Commissioning of Documents: What Accountants Need to Know
CIBA Business Accountants in Practice (BAP(SA)s) can now commission documents online. The virtual commissioning process uses video calls and electronic signatures, confirmed legal by recent court rulings. We look at what steps need to be followed when commissioning documents online.
8 Strategies to Grow Your Accounting Practice
How can you go about boosting your accounting practice? Read our practical tips on how to attract clients and thrive in a competitive market creating strategies tailored for you.
Enhance Your Value Proposition - Assist Your Clients Staying Relevant
Explore opportunities to guide clients through vital business transformations with CIBA's handy guide. With vast majority of executives agree on the need for a shift in business models, the PwC Pulse Survey emphasises the need for urgent reinvention. How can accountants leverage their expertise to help clients adapt?
Keeping the Quality of Services High
Explore how accounting firms handle errors, compliance, and risk management to cultivate a proactive quality culture. This discussion focuses on how small to medium-sized firms can establish a streamlined Quality Management System (QMS) in line with ISQM 1. This approach ensures they deliver consistently high-quality services that not only meet but exceed client expectations and adhere to the highest ethical standards.
AI and Fraud Risks: How to Protect Your Business
In this article we explore the impact of Artificial Intelligence (AI) on the accounting industry looking at positive and negative effects. We look at the dual role of AI in both facilitating and combating fraud, including the generation of realistic deepfakes and the automation of phishing schemes, alongside strategies for using AI to bolster security and maintain integrity in financial transactions.
Essential Tips for Accountants: How to Handle External Confirmation Requests
Learn how to handle third-party verification requests with our comprehensive guide for accountants. This article offers practical advice on providing accurate information, understanding different types of confirmation requests, and obtaining necessary client consent. It also outlines important dos and don'ts to ensure you maintain professionalism and protect your clients' interests effectively.
Select Your Winning Pricing Strategy
Explore the latest pricing strategies for accountants in South Africa with our comprehensive guide. Learn how to implement fixed fees, monthly retainers, value-based pricing, and understand the legal aspects of contingent pricing.
Grace Period Expires for New Accountable Institutions to comply: 19 June 2024
As the 18 months grace period is nearing for new Accountable Institutions (AIs) it is crucial to ensure full compliance with the amended Financial Intelligence Centre Act (FIC Act). This series begins by identifying which entities, including advocates, crypto service providers, and high-value goods dealers, must now register as AIs.
Avoid Criminal Charges with Due Diligence Processes
In this article we look at how the revised anti-corruption legislation can now hold companies criminally liable for failing to prevent corruption. This guide covers the new obligations for companies, the importance of robust anti-corruption measures, especially with third-party consultants and contractors, and the global implications for South Africa's standing with the Financial Action Task Force
From Necessary Evil to Strategic Asset: Timesheets in Accounting
Explore the transformative benefits of a time recording system as we discuss how it can boost productivity of an accounting practice, assist in managing staff and facilitates precise billing. Learn about how to set up your system, selecting the right tools and utilising timesheet reports for improved decision-making and streamlined business operations.
A Simple Guide to Effective Working Papers
Explore the crucial role of working papers in accounting for accurate, transparent financial reporting. Learn how they help keep financial statements error-free and provide a solid defense during audits. Our guide covers the essentials of working papers, from recording steps to backing up claims, and details on cross-referencing and the use of tick marks for efficient review processes.
Knowing your client = better financial statements
Find out how accountants can master the art of compiling financial reports with a deep understanding of clients' businesses, industry standards, in compliance with legal requirements like the Companies Act and FRS for SMEs. Gain insights into transforming client data into accurate financial statements and offering strategic advice for informed decision-making. Find a handy checklist that you can use to document your work.
The first building block of success: Terms of Engagement and how to get it right
Discover the critical role of clear terms of engagement in producing accurate and trustworthy financial statements. Learn how a well-defined engagement letter, aligned with ISRS 4410 standards, ensures transparency and integrity in financial reporting. What information is necessary to include and how can accountants make sure that they derive benefit from its use. Download CIBA’s template Engagement Letter for compiling financial statements.