Governance

CFO of Midvaal Zakhele Mhlongo is a master of clean audits. While his early accounting career was spent in the private sector, his passion for public service took over in 2004.

Elisa Mkhize joined Kiara Health in January 2021 to help the company implement new governance, processes and systems to help the business grow.

CFO Kagiso Lerutla unpacks some of the initiatives that have contributed to the City of Ekurhuleni recently achieving its third consecutive clean audit.

As the sponsor of the Compliance & Governance Award at the 2023 CFO Awards, Ince not only celebrates CFOs who are excelling in this category, but offers the winner an exclusive rhino dehorning experience.

Mobalyz Holdings finance executive Altea Spagnuolo reveals how she is addressing changing rules, risks and regulations, and staying on top of stakeholder demands.

During a CFO Dinner, some of South Africa’s top CFOs shared how they navigate economic and political uncertainty – focusing on South Africa’s resilience and positivity in addressing challenges.

Absa’s 2022 report was chosen in the Top 10 Integrated Reports among the JSE Top 100 listed companies in the EY Excellence in Integrated Report Awards. Absa CFO Jason Quinn shares his insights on their success.

BDO’s Johann Benadé reveals how PBO donations will enhance transparency and impact.

BDO SA’s Louis van Manen unpacks how CFOs can benefit from their tax obligations.

CEO Imre Nagy says the regulatory body is proactively engaging with stakeholders.

Arno Daehnke, Sean Doherty, Buhle Hanise and Yusuf Bodiat reveal the makings of an ethical organisation.

CIPC to unpack how the XBRL programme is unearthing valuable insights at Finance Indaba.

The national head of audit at AGSA believes new standard will encourage proactive quality management.

The CFO explains that Pepkor has worked hard to demonstrate that it operates separately from Steinhoff.

Our insightful Future of Audit series asked some of audit’s top thought leaders to look into the future.

Aon’s Global Risk Management Survey reveals that Covid-19 has shone a spotlight on interconnected risks.

Restoring trust requires enlisting and empowering the right people, says RMA Group CFO.

Following an integrated risk management approach is increasingly necessary for organisations.

There are ways to reduce frustration, save time and costs when dealing with SARS disputes.

AFS reporting requirements will soon be in place for SOEs and municipal-owned companies.

Recent civil unrest has highlighted the need to ensure business operations can be maintained as far as possible.

Tax specialist and founder Nico Theron explains how Unicus Tax aims to make tax matters easier.

AGCS’s Paul Schiavone highlights some of the most significant risks for the financial services industry.

Xperien’s Wale Arewa takes a deep dive into the rules of PoPIA and the consequences of breaking them.

Bank risk management specialist Moorad Choudhry suggests banks should be more intentional about knowledge sharing.

Victor said that executives and directors of organisations also need to be held accountable for audit failures.

Shabeer says the future of public sector audit is performance auditing, moving beyond a check-box mindset.

Karl Muller shares how Unilever achieved their ideal tax function through automation.

Automating the statutory compliance checklist helps companies become investment-ready.

Striata’s Stergios Saltas shares everything organisations need to know to be POPI compliant.

Disruption is key; so too is governance, says the head of KPMG SA’s Emerging Tech Unit.

Accountability needs to encompass all role players – not just auditors, says SNG Grant Thornton CEO.

SoluGrowth further unpacks the impact of Covid-19 on your business’s accounting.

In order to sustain ethical behaviour within an organisation, it needs to have an ethical culture.

Taurus Capital CEO Elad Smadja says CFOs need to be solutions-driven and responsive in how they make decisions.

Preventing fraud and corruption, and mitigating risk, should be an inside job, these experts told us.

Covid-19 has amplified the challenges around governance, remote working and cyber security.

Coca-Cola SA CFO Walter Leonhardt: It’s important to look out for one another and the business.

Afrimat CFO Pieter de Wit: Risk management cannot operate as a silo an isolated function.

CFOs have had to come up with risk scenarios on how to respond effectively to Covid-19.

In order for businesses to survive the Covid-19 storm, companies have to be ‘risk intelligent’.

Claudelle von Eck: When it comes to ethics, leaders need to put their money where their mouth is.

"If you come forward and help us, you are helping the system work," Freeman said.

Shaik and three associates allegedly defrauded the Coastal KZN TVET College of R30 million.

Group CFO Megan Pydigadu says the EOH management team remains committed to transparency.

Covid-19 shockwaves force leaders to rethink how tax risks are managed and tax practices are run.

Growthpoint Properties wins IAS Excellence in Financial Reporting and Communications Award 2019.

This week's conversation explored how companies' risk strategies have evolved as a result of the pandemic.

The Financial Sector Conduct Authority plans to take action against insurers who are non-compliant.

This follows the Tribunal's ruling that Dis-Chem has engaged in price gouging on Covid-19 masks.

Truter is the eighth person arrested and charged with 47 charges relating to the looting of VBS Bank.

Tongaat has been fined for its 2011 to 2018 financial information not complying with IFRS standards.

Merafong Municipality acting CFO Thys Wienekus plans to turn state witness following arrest.

Dr Claudelle von Eck: Interventions are cheaper than the cost of consequences of unethical culture.

Companies will have to ensure compliance with the new sections within one year of their commencement.

CEO Bernard Agulhas: We're proud that rotations are not limited to changing between the big four.

On Wednesday morning, eight men were arrested in connection with the R2.7 billion theft at VBS Mutual Bank.

The government has made a number of changes to South Africa's level 3 lockdown regulations.

Finance manager Dominique Nash explains how the payment app now performs quick and easy daily screenings.

New admission of guilt fine directives have been published for businesses breaking lockdown rules.

One business owner responded to a fake tender from what she thought was the Department of Health.

Several corporate scandals and instances of poor governance have tarnished South Africa's reputation as an investment destination. Listed CFOs need to pay careful attention to the JSE's new listing requirements, which require enhanced accountability and transparency.

The President has not announced the promulgation date of POPIA, despite media claims.

Alexander Forbes will be the first company to test the new platform at their next AGM.

It enables companies to list and raise funds for sustainability linked instruments and projects.

Kruger has worked in a variety of roles in the FirstRand Group, including CRO at RMB.

Juanita Steenekamp says that it is both "onerous and vague" and that "more guidance is required".

Richard Crecel and Daniela Thakkar: banks must act as credit loss remains divergent under IFRS 9.

Acting CEO Charles Nel: leaders must reflect honesty, accountability, integrity, fair justice and good conduct.

CEO Bernard Agulhas talks about IRBA's strategies to rebuild trust after a clean audit review.

Steven Sidley says SA enterprises with on-premise server rooms and data centres are sitting ducks.

Clinix's Elisa Mkhize: "In five years' time, companies will need a completely different skills set."

Public Sector CFOs have to deal with negative public perceptions, lack of resources and corruption.

IRBA's Imre Nagy says that regulators have to be tougher on finance professionals.

Small businesses hope the new ESD codes will help them to benefit more from BEE.

Criminals will always be smarter if the right measures are not put in place.

With or without machine learning, unethical accounting practices must be stamped out, say panellists.

South Africa is in a moral crisis, and doing something about it will take courage, says Athol Williams.

SNG Grant Thorton discussed how to prevent or minimise the impact of a data breach.

Six big trends will shape the future of work; all include technology, especially Artificial Intelligence.

Junior Biola, EasyDebit CEO, says a real-time verification solution for customer verification is imperative.

RSM's Thilen Pillay: "Disparities in African data protection law plus the EU's GDPR can be quite overwhelming."

He says that trust is built through better governance on a foundation of transparency and accountability.

IRBA CEO Bernard Agulhas: audit committees should keep an open mind when appointing auditors.

Sabric CEO Susan Potgieter said criminals glean information from company websites and other digital platforms.

Fatima has already played a meaningful role in the forensic investigation lead by ENSAfrica.

Claudelle von Eck probes the factors that have led to SA's spate of audit scandals.

Capitec CFO André du Plessis won the Compliance & Governance and Finance & Technology Awards.

IIA SA CEO Dr Claudelle von Eck says the grave situation has untenable consequences for the country.

Rajan believes that the amendments will create active participants in the economy, but may come at a cost.

CEO Joyce Mogale and CFO Sikhumbuzo Zulu "not fit for any senior office which involves finance".

Robin Seabrook: "The last few months have taught me about the need to do what is right."

Herman Singh speaks from personal experience when he says: "Directing is only for the brave".

Make a difference to SA's economy and your scorecard by supporting SMEs through Black Umbrellas.

The amendment bill will close loopholes that businesses have used to enrich themselves.

Struggling to decide on where and how to spend your annual enterprise development budget as your financial year-end approaches? Consider partnering with Black Umbrellas.

JSE fines Pepkor for inadequate disclosures made during their listing and financial results in 2017.

Vincent Pillay faced financial misconduct charges for involvement in the Nelson Mandela memorial service scandal.

PSC continues to investigate Cox Mokgoro's appointment and practices within the Department of Public Works.

Finance Minister to issue regulations giving municipal CFOs 18 months to obtain relevant competency levels.

Professional bodies unite to ensure accountability as corruption complaints against members escalate.

The telecommunications giant says the latest demands by the Nigerian authorities are "regrettable and disconcerting".

The fine is for Steinhoff's failure to disclose Moody's credit downgrades to shareholders.

Over exquisite food and wine at Marble restaurant, CFOs swapped notes with Deloitte leaders who were the official partners of this second dinner discussing energy efficiency.

The CFO must rely on a tech-enabled, data-enabled and business-savvy internal audit function, he says.

Do the right thing. That is the best way to enhance, manage and protect the reputation of your business, said award-winning Woolworths CFO Reeza Isaacs during an incredibly powerful CFO Summit discussion in Cape Town.

SAICA and its Thuthuka Bursary Fund have enhanced their donor vetting process "to avert any possible recurrence" of the situation where the fund had to return money to a company that is linked to the notorious Gupta-family.

Join CFOs Ronel van Dijk, Andrew McMaster and Reeza Isaacs to talk about brand reputation.

It's a Shovel founder Jessica Whitcutt Yellin on why SA scores so badly in reputation rankings.

UCT's Tim London shares what he considers four positive outcomes of the Steinhoff scandal

Ben la Grange has stepped down as Steinhoff CFO, replaced by acting CFO Philip Dieperink

Steinhoff will restate 2016 financial results and postpone release of 2017 results

BDO South Africa will be merging with the Cape Town and Port Elizabeth offices of Grant Thornton, effective 1 March 2018.

“At Standard Bank, we focus on business opportunities that help our clients grow financially and socially, in all the countries in which we operate,” says Sun? Brugman, chief risk officer for Corporate and Investment Banking (CIB) at Standard Bank. “Equally, we aim to bring new business and investment into Africa by connecting the major markets outside of Africa to the continent.”

Corporate governance failures manifested in illicit conduct and fraud negatively affects your company's prospect of economic growth, public faith and corporate reputation. Unfortunately, all too often, deceitful and falsified business transactions are approved by boards and management simply on the basis of trust. Having spent over 25 years supporting organisations to develop corporate governance frameworks that prevent, detect and remediate (as prescribed in KING IV) illicit conduct, SNG's Peter Goss will discuss a blend of corporate governance guidance, principles and practices for boards, management, CFOs, company secretaries, and other combined assurance providers who will help you to create sustainable value and mitigate related threats. In this lively master class, you will be challenged to adopt a sceptical mindset focused on sustainable value creation and business integrity, a constructively sceptical professional demeanour, and an advanced level of due probity, due diligence and scrutiny. Learn from corporate governance failures the stark and blatant realities, enhance your professional due care and skill, and improve your corporate sustainability in this fascinating Finance Indaba Africa session.

"In the past year, the AGSA’s general (“state-of-nation”) reports were built around a theme of accountability and we see CFO’s, both in public and private sectors, as critical players in making sure that accountability in our country, with specific reference to public finance and performance management, is strengthened," says Jan van Schalkwyk, corporate executive at the Auditor-General of SA (AGSA), a silver partner at the Finance Indaba Africa 2017 on 12 and 13 October 2017 at the Sandton Convention Centre in Johannesburg.

Black-owned auditing firm Nkonki has always been synonymous with trailblazing. Founded in 1993 by brother and sister Mzi Nkonki and Sindi Zilwa, the second black woman in South Africa to become a chartered accountant, Nkonki was born into the turmoil of pre-democratic South Africa and faced numerous challenges, including access to funding and intellectual capital. Under Sindi’s aggressive and stereotype-shattering leadership, Nkonki would soon become one of the largest black empowerment assurance and advisory firms and the only majority female-owned auditing firm in South Africa to be accredited by the JSE to audit listed companies.

Financial service providers, from banks to broker dealers to investment advisors, face complex requirements of an expanding global regulatory landscape. Non-compliance with the rules can be extremely costly and damaging. But how can we address the regulatory requirements without losing operational efficiencies? Dominic Suszek, President and CEO of Global RADAR, has over 30 years of experience in the global financial industry. He will share his vision and experiences from a global perspective; from epic failures in compliance to the impact of technology. What is the state of compliance globally? How can we build efficient compliance processes? Dominic will show you how many financial institutions have successfully deployed a new breed of compliance tools. Join this Finance Indaba Africa session, hosted by DocFox, and discover the critical components of an effective and efficient compliance programme.

Internal audit is an integral part of the governance processes within an organisation but is it providing real business value? They provide the ears, eyes and the internal evaluation of organisational activities to both the organisation executive and governing bodies. With great technology, internal audit has the opportunity to be more than checks and balances, though it will have to partner effectively. If you want to improve the business value of your internal audit, this session with Charles Nel, Head of Technical at IIA SA, will offer insights and practical steps to achieving a next level internal audit. Don't miss out at this year's Finance Indaba Africa.

"Nexia SAB&T provides an extensive range of professional services that are tailored to the specific requirements of our clients," says Ndumi Medupe, Chairperson of Nexia SAB&T, a silver partner at the Finance Indaba Africa 2017 on 12 and 13 October 2017 at the Sandton Convention Centre in Johannesburg.