December 2016

Employers: Your EE Report Deadline and the R1,5m Fine Risk

Failure by “designated” employers to lodge their employment equity reports on time risks severe penalties, with first offenders risking a fine of the greater of R1,5m or 2% of turnover (increasing to the greater of R2,7m or 10% of turnover for serial offenders). Lack of enforcement in the past (apart from a few high-profile exceptions) …

Employers: Your EE Report Deadline and the R1,5m Fine Risk Read More »

Mandatory Audit Firm Rotation is in the News – Will it Apply to You?

There have been many articles in the financial press over mandatory audit firm rotation (MAFR). This followed an announcement by the Independent Regulatory Board for Auditors (IRBA) that they intend to implement MAFR in South Africa. MAFR is intended to strengthen auditor independence to enhance audit quality. There is no universal acceptance or rejection of …

Mandatory Audit Firm Rotation is in the News – Will it Apply to You? Read More »