Approval of Company Financial Statements
The South African Companies Act has specific requirements on the approval of financial statements View PDF
Author Archive for: natascha@nexia-sabt.co.za
Entries by Natascha Drechsel
Understanding low value assets
The IASB has developed IFRS 16 as a new leases Standard which supersedes IAS 17. A company is required to apply the new leases from 01 January 2019. View PDF
Classification of Cash Flows
Cash receipts and cash payments must be classified as operating, investing, or financing activities on the basis of the nature of the cash flow View PDF
Treatment of share premium in the Financial Statements
The Companies Act 71 of 2008 no longer permits companies to have shares of par value, resulting in companies no longer recognizing share premiums. In this issue we look at what this means for existing share premium accounts. View PDF
Governance and the role of Directors and Audit Committees
Corporate governance is essential to reduce risk within entities and to increase growth and long-term value for the business. View PDF
Implications of the effective dates of the IRBA Code on the auditor’s and assurance reports
As the effective date for Parts 1 and 3 of the IRBA Code differs from that of Parts 4A and 4B, it will have an impact on how the IRBA Code is described in the auditor’s and assurance reports. View PDF
Disclosure of Directors’ Remuneration in Group Companies
The Companies Act requires full disclosure of the remuneration of directors and prescribed officers (whether executive, non-executive or alternate directors) in the financial statements of companies that require an audit in terms of the Act. This requirement may become quite cumbersome where a Group of Companies consists of multiple companies. View PDF
Accounting for non-cash consideration in terms of IFRS 15
IFRS 15, Revenue from Contracts with Customers came into effect for years commencing on or after 1 January 2018, with many entities having fully adopted the new Standard at this point. One of the more practical issues which entities are likely to encounter is the accounting requirements for non-cash consideration. View PDF
Tips on how to successfully manage the transition to the new Lease Accounting Standard
IFRS 16 Leases comes into force for years commencing on or after 1 January 2019, which means that the transition date (the opening date of the comparative period) for December year ends has just passed. Bearing this in mind, if you have not yet started work on your IFRS 16 impact assessment, now is the time to start. View PDF
New standards and interpretations effective 1 January 2019 – Are you ready?
There has been a number of new standards and amendments issued by the IASB that will become effective from 1 January 2019 View PDF
