Business In The News South Africa

SAICA’s independent inquiry into KPMG finalizes terms of reference

JOHANNESBURG, October 13 – The South African Institute of Chartered Accountants (SAICA) on Friday said an independent inquiry into the conduct of some chartered accountants formerly employed by embattled audit firm KPMG would begin soon. In a statement SAICA chief executive, Terence Nombembe, said: “The independent inquiry will not be conducted by SAICA, but by […]

Business In The News South Africa

SA revenue services collects R1bln from special voluntary disclosure programme

JOHANNESBURG, October 10 – The South African Revenue Service (Sars) said on Tuesday that it had collected more than R1 billion from about 2000 taxpayers during the Special Voluntary Disclosure Programme (SVDP). The SVDP offered non-compliant taxpayers a once-off opportunity during a limited window period running from 1 October 2016 to 31 August 2017 to regularise their unauthorised foreign assets […]

In The News South Africa

Eastern Cape police foil alleged scammers attempt to sell ’emeralds’ in Port Elizabeth

PORT ELIZABETH, October 11 – The Port Elizabeth police and Walmer Park Shopping Centre Security on Wednesday, foiled the scamming of an elderly man who was going to part with hundreds and thousands of rands, unknown to him, in exchange for fake emeralds. Police spokesperson, Warrant Officer Alwin Labans, said that police received a complaint […]

Business In The News South Africa

South Africa’s Absa bank to ‘reconsider’ KPMG relationship

JOHANNESBURG, October 3 – Barclays Africa and Absa Bank on Monday, said that it would continuously reconsider its position with embattled auditing firm KPMG South Africa as more information becomes available on some investigations and reviews that are currently underway. This comes as the South African Reserve Bank (Sarb) over the weekend reportedly told the banks that […]

Business In The News South Africa

SA business confidence hit by political uncertainty and corruption – analyst

JOHANNESBURG, September 28 – Business confidence in South Africa was at an all-time low as a result of political uncertainty, poor economic performance, policy confusion and a general lack of leadership, a turnaround strategist said on Thursday. Alastair Macduff, chairman and chief executive of the Turnaround Management Association Southern Africa (TMA-SA), said South African businesses were in […]