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“An independent review is not a mini audit”. On 20 April 2023, CPD Campus had the pleasure of hosting Nestene Botha, a chartered accountant (SA) with a fiery passion for the South African auditing profession, stimulating thought relating to independent review engagements. This blog highlights some of the key discussion points of the webinar.

On Thursday 9 March 2023, CPD Campus hosted former TenCent SA CFO, changemaker, digital transformationalist, and author Tramayne Monaghan, a chartered accountant (SA), to share his insights into the competency named “analytical thinking”. The South African Institute of Chartered Accountants (SAICA) defines analytical thinking as “the ability to identify patterns in information and to break complex problems into manageable parts that can be solved individually”. What was evident very early on in this thought-provoking discussion was the significant importance of thinking about HOW we think, and understanding the factors that play a role in the human thought process.

The world is changing at a rapid pace, and we’re being asked to change with it or get left behind. Nowhere has this been more apparent than within the auditing and accounting world, as professionals currently find themselves attempting to surf the wave of swift transformation.

The world is changing at a rapid pace, and we’re being asked to change with it or get left behind. Nowhere has this been more apparent than within the auditing and accounting world, as professionals currently find themselves attempting to surf the wave of swift transformation.

In Roman Times, an heir could receive a nasty surprise when the will of a deceased parent was read. In Roman Times, an heir could inherit a parent’s debt.

The corporate roll-over provisions contained in sections 41 to 47 of the Income Tax Act, No 58 of 1962, generally allow for the tax-neutral transfer of assets between identified persons. When transactions are concluded in terms of these provisions, the legislature provides for tax-free transfer since the cost history of the disposing party or rolled forward to the receiving party. Any inherent capital gains or income gains will therefore still be taxed, but only when the receiving party ultimately disposes of the asset.

The corporate roll-over provisions contained in sections 41 to 47 of the Income Tax Act, No 58 of 1962, generally allow for the tax-neutral transfer of assets between identified persons. When transactions are concluded in terms of these provisions, the legislature provides for tax-free transfer since the cost history of the disposing party or rolled forward to the receiving party. Any inherent capital gains or income gains will therefore still be taxed, but only when the receiving party ultimately disposes of the asset.

It is my privilege to summarise my take on two of CPD Campus’ live learning events held in August 2022 which were joined by two different leaders in our profession. Our first guest was Paul Stedall CA(SA), the chief financial officer (CFO) of King Price Insurance and the second Zimkita Mabindla CA(SA), director and partner at KPMG South Africa. Both successful, admirable professionals that have climbed the ladder of success, but whose humility outshone any of their many achievements.

The auditing profession is a tough one in which one must constantly stay up to date with changes – changes in IFRS standards, tax and other legislation and then, also auditing pronouncements.

In recent years a concerning ‘accusation’ against the accounting and auditing professions has surfaced, relating to the members of these allegedly ‘not always displaying an ability to think critically’. Added to that, a suggested lack of creative problem-solving skills does not paint a great picture of our valued professions. Accountants’ and auditors’ ability to apply critical thinking and creatively solve problems daily is ultimately what makes them invaluable to any business. So, where to now?