Mazars Messenger February 2020
In this issue:
1.) Improving cyber resilience.
2.) Preparing to sell your business.
3.) Your annual financial statements: The difference between having them reviewed or audited.
4.) Proposed amendments to anti-corruption laws will benefit South Africa.
5.) The CIPC to intensify compliance enforcement.
6.) Billions wasted while SA’s internal audit profession is not regulated.
7.) Seven governance priorities for SOE boards in 2020.
8.) Mazars supports Hortgro with leadership development in the agricultural sector.
1.) Improving cyber resilience.
2.) Preparing to sell your business.
3.) Your annual financial statements: The difference between having them reviewed or audited.
4.) Proposed amendments to anti-corruption laws will benefit South Africa.
5.) The CIPC to intensify compliance enforcement.
6.) Billions wasted while SA’s internal audit profession is not regulated.
7.) Seven governance priorities for SOE boards in 2020.
8.) Mazars supports Hortgro with leadership development in the agricultural sector.
Download the full edition or click through to read individual articles on the pages below:
Improving cyber resilience
“That will be 20 Bitcoins to unlock your company and personal data ...”
The above phrase is something no CEO or CIO wants to hear, this means you have been hacked and the hackers have encrypted (locked) your data and seeks payment in order to decrypt your data.
The above phrase is something no CEO or CIO wants to hear, this means you have been hacked and the hackers have encrypted (locked) your data and seeks payment in order to decrypt your data.
Preparing to sell your business
As an owner, selling your business is one of the most important decisions you will make. Having invested energy, time, effort and money building your business, you want to make sure that when the time comes, you receive the maximum return.
Your annual financial statements: The difference between having them reviewed or audited.
With the current state of the national and global economy, companies are trying to better manage their expenses. Audit fees tend to make up a significant portion of a company’s annual expenses and therefore some businesses specifically focus on audit fees when they need to tighten their belts.
Proposed amendments to anti-corruption laws will benefit South Africa
Sub-Saharan Africa remains the region with the highest levels of corruption worldwide, according to Transparency International’s latest Corruption Perceptions Index. With an overall score of 43 out of 100, the index also indicates that South Africa is significantly worse off than its neighbours, Botswana and Namibia. With this in mind, the proposed amendments contained in the Prevention and Combating of Corrupt Activities Bill may offer some much needed support in combatting corruption in the country.
The CIPC to intensify compliance enforcement
Be ready for new CIPC (Companies and Intellectual Property Commission) requirements which kick in from January 2020.
Billions wasted while SA’s internal audit profession is not regulated
Considering the high profile scandals that have dominated news headlines in the last few years, from VBS Mutual Bank to Eskom, it does not seem unreasonable to say that South Africa may have a corporate fraud problem.
Seven governance priorities for SOE boards in 2020
South Africa’s State-Owned Enterprises have been making endless headlines. The unending narrative of corruption, looting and incompetence remains prevalent.
Mazars supports Hortgro with leadership development in the agricultural sector.
For any given farming operation, the quality of its management team’s leadership skills is crucial, and there is a direct positive correlation between business performance and effective leadership behaviour.