KPMG is a professional services company and one of the Big Four auditors.
Fortress Income Fund: Rual Bornman
Rual Bornman has been Financial Director and Executive Director of the Fortess Income Fund since December 2015.
Hulisani: Masibulele Dem
Masibulele Dem has been the Chief Financial Officer of Hulisani since July 2017.
Redefine Properties: Leon Kok
Leon Kok has been Financial Director of Redefine Properties since October 2014. He is also a member of the executive and social, ethics and transformation committees.
Andulela Investment Holdings: Johannes Engelbrecht
Johannes Engelbrecht has been the Chief Financial Officer and Executive Director of Andulela Investment Holdings since 1 October 2015.
Nictus: Eckhart Prozesky
Eckhart Prozesky has been the Financial Director of Nictus since March 2015.
Ecsponent: Dirk van der Merwe
Dirk van der Merwe has been the Group Financial Director of Ecsponent since February 2018.
Holdsport: Cobus Loubser
Cobus Loubser has been the Chief Financial Officer of Holdsport since June 2007.
The Foschini Group: Anthony Thunstrom
Anthony Thunström has been CFO of the Foschini Group since July 2015. He has also been its Executive Director since the same date and serves as a member of the operating board. He has been Director at RAG Holdco (Pty) Ltd since 24 July 2017.
Hiring right: the people in your organisation can make or break you
Getting the right people into your organisation is a challenge - and something we often get wrong, says UCT's Tim London.
National Treasury's Silindile Kubheka nominated for CFO Awards 2018
Silindile joined the National Treasury in April 2016 from the Auditor-General of South Africa
DRDGOLD: Riaan Davel
Riaan Davel has been the Chief Financial Officer of DRDGOLD since January 2015. He is also a member of the Social and Ethics Committee.
Merafe Resources: Kajal Bissessor
Kajal Bissessor has been the Financial Director of Merafe Resources since January 2015.
Hospitality Property Fund: Mara de Lima
Mara de Lima has been Financial Director of Hospitality Property Fund since 1 October 2016.
Purple Group: Gary van Dyk
Gary van Dyk has been the Group Chief Financial Officer of Purple Group since April 2013.
Reinet Investments: Diane Longden
Diane Longden has been the Chief Financial Officer of Reinet Investments since August 2009.
Finbond Group: Corné Eksteen
Corné Eksteen has been the Chief Financial Officer of Finbond Group since 1 July 2016. He is also the In-Country Representative of CrossCountry Consulting.
ARB Holdings: Grant Scrutton
Grant Scrutton has been Chief Financial Officer and Executive Director since October 2015.
Jaguar Land Rover South Africa: Liaan Kretzschmar
Liaan Kretzschmar has been Finance Director of Jaguar Land Rover South Africa and Sub-Saharan Africa since January 2014.
Afrisam: Leon Serfontein
Leon Serfontein has been Chief Financial Officer since September 2013. He also serves as Non-Executive Director of Tanga Cement Public Limited.
Mediclinic: Jurgens Myburgh
Jurgens Myburgh has been group Chief Financial Officer since August 2016.
Kap Industrial: Frans Olivier
Frans Olivier has been Chief Financial Officer since April 2016. He is on the Board of Kap Industrial Holdings.
A celebration of the power of finance: CFO Awards interviews in full swing
The esteemed panel of judges of the CFO Awards chatted to the majority of the 2018 nominees during a jam-packed interview week, hosted at the Sandton offices of law firm Webber Wentzel.
Raising the bar: interviews nominees CFO Awards 2018 kick off
The rigorous interview process for the CFO Awards 2018 kicked off in impressive fashion, with seven two-hour long interviews with SA's best finance leaders.
African Rainbow Minerals: Abigail Mukhuba
Abigail Mukhuba has been the CFO of African Rainbow Minerals since November 2016. She was appointed Financial Director in December 2017. She has also been a non-executive board member and audit committee member of IEMAS Financial Services since March 2014.
Laureate South Africa: Alvin Liew
Alvin has been Finance Director of Laureate South Africa since 2013. He is also Acting Chief Financial Officer for Monash South Africa.
Prof Wiseman Nkuhlu new chair of KPMG Board
Wiseman Nkuhlu and Ansie Ramalho are new appointments to the KPMG board
Can ethics be audited?
Finance must be the torch bearers of ethics, says Nkonki's risk advisory boss Emma Mashilwane
Assurance in turmoil: four positive outcomes from the Steinhoff scandal
UCT's Tim London shares what he considers four positive outcomes of the Steinhoff scandal
Irba investigation into KPMG nearing completion
Bernard Agulhas, CEO of Irba, says the body's investigation in audit firm KPMG is almost complete
Jaguar SA's Liaan Kretzschmar nominated for CFO Awards 2018
Liaan started in his current role in January 2014, after almost two years at Volvo Trucks
Monash SA's Alvin Liew nominated for CFO Awards 2018
The chartered accountant is currently the Acting CFO for Monash South Africa and Finance Director, Laureate South Africa, and is pursuing a master's degree in international business
FinTech has potential to create 3 million jobs - former Nigerian minister
The industry in Nigeria is being held back by the lack of sound regulation
African FinTechs feature in KPMG report
Nigerian and Kenyan FinTechs have made the prestigious list of 50 emerging companies in the sector
Things aren't always as easy as you're used to: Chris Patricios, group CFO of Primedia
Show your team how much you value them and they'll go above and beyond, the finance head says.
The silence is killing us, says Graham Fehrsen
The CFO SA MD talks about the dangers of not speaking up, being honest, and standing firm
City of Tshwane's Umar Banda nominated for CFO Awards 2018
The University of Pretoria graduate has been recognised for his sterling work at the municipality
South African CFO Tracey Joubert enjoys success abroad
Cooper Tire & Rubber Co. has named Joubert a director of the company, effective immediately.
Leaders become great because of their ability to empower others, says Liaan Kretzschmar, Jaguar Land Rover CFO
“Ever since I can remember, I’ve had a strong drive to succeed. My father also taught me something at a very young age: ‘Don’t do something unless you’re intending to do it exceptionally well’. I still live by this,” says Liaan Kretzschmar, CFO/FD of Jaguar Land Rover South Africa and Sub-Sahara Africa.
Former KPMG chairman Ahmed Jaffer joins family firm as CFO
Former KPMG chairman Ahmed Jaffer, who resigned amidst the Gupta-linked upheaval at the firm, has been appointed as group CFO of Crestar Printers and Publishers, a Centurion-based business run by his children Ikraam and Salahhuddeen.
Claudelle von Eck joins SAICA's KPMG enquiry panel
Leading governance expert Claudelle von Eck will be one of five members of SAICA's independent inquiry into allegations that former or current employees of KPMG have engaged in conduct which is in contravention of the SAICA Code of Professional Conduct.
Retiring wealthy or not at all? InvesTech firms at #afta17
With InvesTech firms redefining the investment sphere and taking the challenge to bloated traditional institutions in terms of solutions, education and platforms, there was naturally a lot of interest in their pitches at the African FinTech Awards. Some big players and familiar foes in the form of EasyEquities, ZAR X and Wealth Migrate went head-to-head on the second morning of Finance Indaba Africa on 13 October 2017.
KPMG SA announces new exec team
Nhlamu Dlomu (pictured), KPMG South Africa’s new CEO, has announced an incoming executive team which she says will support her in “restoring public trust and rebuilding the firm”.
I wish we could think in a truly radical way, says Investec CFO Nishlan Samujh
Nishlan Samujh, CFO of Investec, is one of those quiet CFOs that everybody who matters in the South African business world seems to know. He says winning the Governance & Compliance Award at this year’s CFO Awards was a huge surprise, and adds that his team is extremely proud of the accomplishment. In this conversation, Nishlan talks with verve about his humble beginnings, also revealing how to be an effective finance leader in a world full of entrepreneurs and “big people”. The most passion, however, he reserves for the prospects of South Africa’s youth. “Why can’t our kids be like those in India or Silicon Valley? We have a whole new generation coming and, as a country, we need to find out what our next big thing is. How do we get youth and education behind a common goal? Instead of talking about yesteryear, we need to fly out of it. These things are easy to say, but I do wish we could think in a truly, truly radical way.”
Don't believe the data? Here's what you can do about it: Finance Indaba sneak peak 15
In a time when most businesses are using data and analytics to drive better decision-making, more than half the global leaders in a CEO survey said they didn't trust the data. While “data is the new oil/gold etc.”, more businesses are understanding that data quality and data governance are key to getting real, actionable insights. Is this your challenge? In this session, KPMG data and analytics leader Frank Rizzo shares his experience of how organisations are improving their data management processes and ensuring that complex algorithms are generating reliable insights around customer, workforce and supplier behaviour. If you want to optimise your data and analytics efforts in 2018, this Finance Indaba Africa session will provide ideas and solutions to consider in your business.
BLSA suspends KPMG
The board of Business Leadership South Africa (BLSA) has suspended KPMG SA’s membership, pending the outcome of the independent investigation currently underway into the firm’s goings-on.
KPMG CEO, Trevor Hoole, resigns in wake of Gupta scandal
KPMG South Africa has undertaken a serious board clean-up in the aftermath of its dealings with the Guptas and the South African Revenue Service (SARS). Trevor Hoole (pictured), KPMG CEO in SA, was caught in the cross-hairs, and has since resigned. This, following a review of work done by the South African branch of the audit farm, which was carried out by its international arm.
Abu Dhabi Global Market attracts 166 applicants for FinTech challenge
Abu Dhabi Global Market (ADGM), the International Financial Centre in Abu Dhabi, has received 166 applications from over 39 countries for its inaugural FinTech Abu Dhabi Innovation Challenge.
RSVP for the 2 day course "Work smarter not harder" to make your life and business a lot happier
We define productivity as achieving what you want to achieve with the least effort, or having the ability to achieve what you want to achieve with the least effort," Marcel van den Berg says.
Leaders who show their vulnerability are appreciated, says Nonkululeko Gobodo
“It breaks my heart when I see talented young females and they are just sitting on boards as non-executive directors,” says Nonkululeko Gobodo, the country’s first-ever female chartered accountant. “If women are quitting, we are not going to produce the leaders we need,” she says. Nonkululeko sat down with CFO South Africa to talk about being a role model for female CAs, her deliberate but painful departure from SizweNtsalubaGobodo, and the new chapter in her professional life as a leadership consultant.
KPMG suspends audit partner
The South African office of KPMG has suspended its lead audit-engagement partner, also relieving two others, while it awaits the results of its ongoing investigation into work it undertook for companies linked to the Guptas.
Finance flash: the TOP-10 articles of week 32, 2017
Do you want to keep up to date with the latest developments in finance, but you are short of time? Don’t worry. CFO South Africa weekly collects 10 of the most important articles from international media for your convenience.
Abu Dhabi launches global FinTech challenge
Abu Dhabi is looking to strengthen its FinTech position with a flurry of initiatives, including a tie-up with Switzerland and an innovation challenge for startups.
CFOs must have a deep understanding of operations, says Hatch CFO Craig Sumption
Craig Sumption has been with Hatch, a global concern headquartered in Canada and supplying engineering, project and construction management services, process and business consulting and operational services to the mining, metallurgical, energy and infrastructure industries, for more than a decade. He assumed the role of Regional Director of Finance for the firm's African, European and Middle Eastern operations two years ago. A passionate finance man who knew very early on that he wanted to go into the field, the father of three's grasp of the numbers remains second to none. He shared his thoughts with us about volatility, moving into Africa and leadership.
IRBA to probe KPMG as latest Gupta scandal breaks
Audit watchdog, the Independent Regulatory Board for Auditors (IRBA) is investigating whether KPMG defied regulation when it audited a company owned by the Gupta family. This, after reports following an investigation by AmaBhungane and Scorpio revealed that government funds intended for empowerment projects in the Free State were instead used to pay for a Gupta wedding.
Jason Wright, Cape Union Mart CFO: Balancing staff and systems with growth
Jason Wright, CFO of Cape Union Mart, took an unusual route to get where he is today. Having finished matric, Jason went into gainful employment in the IT space before going on to study information systems, also gaining experience in web development and project management. It was only in his mid-twenties that the commerce bug really bit.
Majority of CEOs see disruptive forces as an opportunity, not a threat
This year’s CEO Outlook, released by KPMG, has revealed that 68 percent of CEOs see disruptive forces as an opportunity, not a threat, for their business. The CEO Outlook is based on in-depth interviews with 50 CEOs of some of the country’s largest companies.
Lead the way you want to be lead, says Fabian Naidoo, CFO of Right to Care
“As a leader, you should create an environment that allows for growth in the team and for people to feel passionate about the work that they do,” says Fabian Naidoo, divisional CFO of non-profit organisation (NPO), Right to Care (Rtc). Fabian is currently also acting as finance director of the RtC Group. Fabian says his philosophy about work can be summed up by this quote from Steve Jobs, ‘The only way to do great work is to love what you do’.
KPMG bags two awards at PEA Awards
KPMG won two prestigious accolades at the recent Private Equity Africa Awards 2017 (PEA Awards): Global Financial Advisor and Single Deal Advisor.
I want to be part of professionalising government, says National Treasury CFO, Silindile Kubheka
“You only have one chance for a first impression. I am always respectful but I never confuse respect with blindly following others,” says National Treasury CFO, Silindile Kubheka. We have tried to unpack the remarkable metamorphosis of the National Treasury CFO from a shy, quiet serial student to a leadership powerhouse with strong views on boardroom dynamics, youth development and ways to professionalise government.
Outstanding event: WATCH KPMG's John Saker at #findaba16
KPMG is a leading global professional service company and one of the "Big Four". Established in 1987 with headquarters in Amsterdam, KPMG employs 189 000 people, offering financial audit, tax, and advisory services. The firm, which is frequently cited as one of the best places to work and build a career, was also a diamond sponsor of CFO South Africa's Finance Indaba extravaganza in 2016.
Sustainability - why CFOs should care
"Companies are now required by governments and stock exchanges to be transparent about their sustainability performance for all stakeholders, including investors, to see and evaluate," writes Stephane Bello, Executive VP and CFO at Thomson Reuters.
KPMG acquires FinTech platform
KPMG has acquired global FinTech innovation platform Matchi, which connects traditional financial institutions with technology solution providers. The platform includes more than 700 curated FinTech solutions and a database of more than 2 500 FinTech companies.
Vodacom CFO Till Streichert named CFO of the Year 2017
Till Streichert, chief financial officer of mobile communications company Vodacom Group, has been named South Africa's CFO of the Year at the 2017 CFO Awards.
Young CFO of the Year 2016: Watch the NAC's Dumisani Dlamini
With the excitement building ahead of the CFO Awards 2017 later today, we thought we would give you a taste of what is to come with scenes from last year's extravaganza. The annual 'Oscars for South African CFOs' recognise CFOs of listed companies, large corporations, state-owned entities and government institutions, and awards them for outstanding performance and leadership.
KPMG acquires global FinTech platform, Matchi
KPMG has acquired Matchi, a leading global FinTech innovation and matchmaking platform that connects financial institutions, including banks and insurance companies, with leading-edge financial services technology solutions and companies worldwide. The Matchi platform includes more than 700 curated FinTech solutions and a database of more than 2,500 FinTech companies .
KPMG launches Incentive Tax App
KPMG has launched an innovate, web-based app, the Learnership Incentive Tax Tool (LITT), which calculates learnership tax allowances and generates tax schedules at the press of a button. It also provides an additional tax deduction for registered learnerships.
What are the implications of a `junk status` downgrade?
The downgrade of SA’s sovereign credit rating to junk status after the Zuma administration’s midnight Cabinet reshuffle on 31 March has plunged the country into anxiety and depression. The rand and government bonds fell sharply after the S&P and now Fitch agencies took the step in a reaction to what they see as risks to fiscal policy and political uncertainty. But what does the downgrade mean for financial executives and South Africans in general?
3 CFOs on succeeding in Africa
For many South African companies, expanding successfully through the rest of the continent is a sort of Holy Grail. Many have been burned in their efforts and some abandon their plans completely after failing to negotiate difficult terrain. Here are three financial executives’ advice on doing business in Africa from our interview archives.
Primedia's Chris Patricios nominated for CFO Awards 2017
Primedia CFO Chris Patricios has been nominated for the 2017 CFO Awards. The annual 'Oscars for South African CFOs', to be held on 11 May, recognise CFOs of listed companies, large corporations, state-owned entities and government institutions, and awards them for outstanding performance and leadership.
KPMG and MacRobert Attorneys form tax dispute resolution alliance
The state of South Africa’s economy and more ambitious tax revenue targets, together with uncertainty on various tax principles and policy matters, has led to an increase in tax dispute matters. Against this background, KPMG and MacRobert Attorneys have joined forces to create a Tax Dispute Resolution Alliance. There is a shared vision between the two firms on how to help clients on dispute resolution matters without adopting aggressive and expensive tax litigation practices.
Real empowerment remains elusive, says IRBA's top brass
“More focus should be given to long-term career prospects, including equity partnerships and senior management and executive responsibility. Transformation is not about the de-racialisation of the overall profession; it is about financial inclusion, ownership and access to markets and opportunity,” says Bernard Agulhas (pictured), CEO of the Independent Regulatory Board for Auditors (IRBA). In Agulhas’s opinion, transformation must move beyond numbers and begin to truly empower black accountants and black-owned auditing firms. This includes providing equal opportunities to access the audit market, he says.
NEF's Innocentia Pule nominated for CFO Awards 2017
National Empowerment Fund (NEF) CFO Innocentia Pule has been nominated for the 2017 CFO Awards. The annual 'Oscars for South African CFOs', to be held on 11 May, recognise CFOs of listed companies, large corporations, state-owned entities and government institutions, and awards them for outstanding performance and leadership.
The CFO must be a voice of reason in the boardroom, says Frencel Gillion, CFO of KTH
“What makes me able to do this job is a strong understanding of the business, its operations and risk, as well as fundamentally accepting the need to grow the business,” says Frencel Gillion, CFO of Kagiso Tiso Holdings (KTH). “I think a CFO should have a strong grasp of the numbers but also be able to intuit what is happening within the business and be able to communicate this to the stakeholders through the financials. It’s not just about regurgitating numbers.”
Bill Thomas new KPMG Global Chairman
KPMG International has appointed 49-year-old William (Bill) Thomas as chairman. Thomas will head up the KPMG global network of professional services firms for a four-year term, effective 1 October 2017. He takes over from outgoing chairman, John Veihmeyer.
Accountants in the Oscars spotlight
Accountants don’t generally get to bask in the limelight and it is also rare for them to make headlines of any kind. You certainly wouldn’t accept an accountant to steal thunder at an event of the magnitude of the Oscars, but PwC partner Brian Cullinan’s monumental gaffe at Hollywood’s Dolby Theatre on Sunday night did just that and thrust the venerable London-based accounting firm into public scrutiny.
There is no benefit in MAFR, says AECI CFO Mark Kathan
MAFR promotes sales over innovation, says KPMG's Michael Oddy
“The process of mandatory audit firm rotation (MAFR) is costly and will result in the promotion of a sales culture, rather than a focus on innovation and sustainable investment in audit quality,” says Michael Oddy, the partner in charge of audit at KPMG in South Africa. Moreover, he adds, it will have a negative impact on the audit profession.
CFO Awards 2017 line-up wows
“For me as a proud CFO it is a very touching experience being nominated and I feel quite privileged. To be acknowledged for one’s work is not an often-done thing in the world today. One works very hard but to get acknowledged is not easy,” says Rajesh Mahabeer (pictured), CFO of SANParks, one of the 25 nominees for this year’s CFO Awards.
Nigeria set to become FinTech hub
Nigeria’s FinTech space is growing from strength to strength and the West African nation is well on its way to becoming a hub on the continent, if developments over the past few years are anything to go by.
City of Tshwane's Umar Banda nominated for CFO Awards
Acting CFO for the Tshwane Metro Umar Banda has been nominated for the 2017 CFO Awards. The annual 'Oscars for South African CFOs', to be held on 11 May, recognises CFOs of listed companies, large corporations, state-owned entities and government institutions and awards them for outstanding performance and leadership.
$200 million ploughed into Nigerian FinTech
According to global financial services giant KPMG, more than $200 million has flowed into the Nigerian FinTech space over the past two years. It called on the Nigerian government to take the initiative to further increase investment by proving incentives and a welcoming regulatory ecosystem at a summit entitled The FinTech Disruption – Understanding the Value Proposition at the Eko Hotel and Suites in Lagos.
Postbank CFO Nichola Dewar nominated for CFO Awards 2017
Nichola Dewar has been nominated for a CFO Award for her sterling work as the CFO of Postbank at the South African Post Office, where she has since taken over the reigns as CFO. The annual 'Oscars for South African CFOs', to be held on 11 May, recognises CFOs of listed companies, large corporations, state-owned entities and government institutions and awards them for outstanding performance and leadership.
Terrorist financing and FICA: KPMG's Tersia Rossouw explains the latest amendments
As far as terrorist financing goes, research indicates that there are at least four primary types:
Policeman and enabler: CFOs discuss risk, tech and culture
With cybercrime, Brexit and the surprising result of the US elections affecting economic sentiment, these are unpredictable times. The modern CFO has to contend with the risks of this environment, acting as both policeman and enabler, but relinquishing the natural tendency to forgo all risk.
CFOs need to be ruthless and human: Peregrine Group CFO Rob Katz
As Group CFO of Peregrine Group, Robert Katz says he has learnt valuable leadership lessons from his two favourite hobbies - boxing and long-distance running. In this exclusive interview Rob discusses the need for finance leaders to be both ruthless and human, and shares what he has learned in the ring, on the road and beyond.
Top CFOs discuss their appetite for risk during November's CFO breakfast
An incredible lineup of top CFOs will shine their light on the topic that can make or break a modern business: risk. Inspired by Facebook founder Mark Zuckerberg's quote 'The biggest risk is not taking any risk', finance executives Sandile Ntsele, (MTN South Africa), Luvuyo Masinda (Standard Bank CIB) and Charl Keyter (Sibanye Gold) will discuss risk and results, not as a threat but as an opportunity.
10 reasons your boss should send you to the training `Work smarter not harder`
So you want to sign up for SA's new blockbuster training, but how do you convince your boss to approve it? Here you will find 10 reasons why your boss should send you to this training:
Fighting for survival: Post Office CEO and CFO reveal all at public sector event
CFO South Africa is hiring an experienced media sales manager
Freeing up time to focus on reporting - IBM explains cognitive analytics at #findaba16
Two case studies show how Cognos Disclosure management saves CFOs a significant amount of time when generating reports.
CFO South Africa is hiring an experienced media sales manager
Are you looking for a great job in an international fast growing company? You found it. A fantastic chance for an experienced media sales manager. A great challenge for a skilled professional that wants to make a real contribution to Africa and to the company: CFO South Africa PTY Ltd, your future employer.
Cocktail function: KPMG chairman Ahmed Jaffer talks change and business - #findaba16
How should smart leaders position their organisations for change? That was the central question in a through-provoking keynote from KPMG chairman Ahmed Jaffer at the firm's cocktail function on 13 October 2016 at the Finance Indaba Africa. The event was one of the highlights of #findaba16, with the who's who of CFOs and corporate South Africa enjoying the entertainment, food & drinks and networking.
RSVP for the 2 day course `Work smarter not harder` to make your life and business a lot happier
We define productivity as achieving what you want to achieve with the least effort, or having the ability to achieve what you want to achieve with the least effort,” Marcel van den Berg says.
It's time! Finance professionals flock to Finance Indaba Africa - #findaba16
The day that finance professionals have been looking forward to for many months has finally arrived - it is time for Finance Indaba Africa! With two days of learning, inspiration and unparalleled networking, the inaugural event has already established itself as the biggest conference and expo for African finance teams in the world. The numbers are impressive: 13 & 14 October 2016, Sandton Convention Centre, 5000 attendees, 120 sessions with speakers and discussions and 75 exhibitors.
CFOs reject mandatory audit rotation: CFO Forum chair Christine Ramon
Introduction of mandatory audit firm rotation will “dilute the oversight role of audit committees and of shareholder rights”, says Christine Ramon, award-winning CFO of AngloGold Ashanti and chairperson of the CFO Forum, a lobby group of finance executives for large listed companies and state-owned entities.
Finance Indaba programme: Leading with data and insight - #findaba16
The Finance Indaba Africa 2016 is almost upon us and it is time to start looking at what exactly lies ahead at the Sandton Convention Centre on 13 and 14 October 2016. Every day until the event, we will shine a light on the parts of the amazing programme. Today: Finance leading with data and insight, a two-day programme opening up the world of analytics and technology.
Finance Indaba programme: Finance in Control - #findaba16
The Finance Indaba Africa 2016 is almost upon us and it is time to start looking at what exactly lies ahead at the Sandton Convention Centre on 13 and 14 October 2016. Every day until the event, we will shine a light on the parts of the amazing programme. Today: Finance in Control, a two-day programme for all finance professionals.
Finance Indaba 2016: Clean up your audits with the Auditor-General of SA
“We’ve always defined our service offering as audit and state of the nation type reports, but over the past five years, we’ve engaged with CFOs and accounting officers very proactively, especially around the basics of internal control that we believe can move them in the right direction," says Jan van Schalkwyk, corporate executive at the Auditor-General of SA, a silver partner at the Finance Indaba Africa 2016 on 13 and 14 October 2016 at the Sandton Convention Centre in Johannesburg.
Finance Indaba programme: Finance for Africa - #findaba16
The Finance Indaba Africa 2016 is almost upon us and it is time to start looking at what exactly lies ahead at the Sandton Convention Centre on 13 and 14 October 2016. Every day until the event, we will shine a light on the parts of the amazing programme. Today: Finance for Africa, a two-day programme moderated by Didi Sehume, Treasury and Securities Services associate at JP Morgan.
Finance Indaba programme: the Future of Finance - #findaba16
The Finance Indaba Africa 2016 is almost upon us and it is time to start looking at what exactly lies ahead at the Sandton Convention Centre on 13 and 14 October 2016. Every day until the event, we will shine a light on the parts of the amazing programme. Today: the Future of Finance, a two-day programme moderated by corporate trainer Dave Stevens.
Five top trends in finance and technology from KPMG's Frank Rizzo
What are the five hottest tech trends that finance teams should be aware of? Frank Rizzo is revealing all during a thought-provoking presentation at the Finance Indaba Africa (13 October 13.30 - 14.15 in Ballroom 4 of the Sandton Convention Centre). Here's an exclusive taster for readers of CFO.co.za.
Finance flash: the TOP-10 articles of week 37
European firms benefit from audit rotation, says former Heineken CFO
The introduction of mandatory audit firm rotation has worked out advantageously for European companies, says René Hooft Graafland, who recently stepped down as global CFO at the Dutch brewing giant Heineken. He says that benefits include lower audit fees, a more efficient audit plan and new insights, as the new audit team approaches the company with fresh eyes. “But I do believe the rotation period should be at least twelve years.”
Grandeur and great conversations during CFO Awards judges dinner
Conversation flowed and sumptuous food was enjoyed during a inspirational get-together of the panel of judges for the 2017 CFO Awards. One of the highlights of the evening was the judging panel welcoming Prof Wiseman Nkuhlu, Chancellor of the University of Pretoria, in their midst. Wiseman is South Africa's first black Chartered Accountant and an incredibly experienced boardroom expert. CFO SA Graham Fehrsen thanked him for adding even more gravitas and quality to the - already impressive - judging panel.
Disrupt, or be disrupted - CFOs discuss digital transformation
“By show of hands, how many people in the room have begun a digital transformation project in the last 12 months?” CFO South Africa MD Graham Fehrsen asked the crowd during his welcoming at the first Johannesburg breakfast event hosted by CFO South Africa on 15 September 2016. Virtually every attendant raised their hands. “So everybody is here to discover why it is not working or how to improve the ROI,” he joked to appreciative chuckles.
Mandatory Audit Firm Rotation is a good thing, says Nkonki's Mitesh Patel
“It is simply staggering that of the 353 audit partners who sign off on the financial statements of all JSE-listed companies, only nine are Black African – that’s just 2.5%,” says Mitesh Patel, Managing Director of Nkonki, a 100% black-owned audit and advisory firm. “Given the transformation imperative within the broader South African corporate context and our profession as a whole, there can be no doubt that Mandatory Audit Firm Rotation (MAFR) will assist in driving the transformation agenda.”
Christine Ramon special guest at Digital Transformation CFO Breakfast, 15 September 2016
Clever implementation of modern technology can bring massive benefits to companies and is often the difference between bust or boom. During CFO South Africa’s annual Digital Transformation Breakfast on 15 September 2016 (7h00) we tap into the incredible experience of CFOs Christine Ramon (AngloGold Ashanti) and Wayne Koonin (Omnia) to explore the risks and opportunities a tech savvy finance team can create.
KPMG CEO Trevor Hoole: The evolution of the modern CFO
Since Trevor Hoole joined KPMG in 1975 he has witnessed the change in CFOs from “the traditional bespectacled back-office-person” to the modern money boss of today. We asked the CEO of our principal partner what it takes to be a successful finance leader in a world of change, big data, volatility, risks and cybersecurity. Here are Trevor’s insights summarised in nine burnings topics.
KPMG joins Finance Indaba Africa 2016 as Diamond Partner
KPMG has joined the inaugural Finance Indaba Africa as a Diamond Partner and promises to offer a wide range of interesting and inspiring content for visitors to the much-anticipated event.
Seyi Bickersteth, National Senior Partner KPMG Nigeria, on Africa's potential to be great
“We [Africa] need to market ourselves more. We have a continent with lots of opportunities for people, we have a young and vibrant population and a growing middle class. We need to let people know that we are open for business and that we are very investor friendly,” says Seyi Bickersteth, National Senior Partner KPMG Nigeria & Chairman KPMG Africa Practice. Seyi has enjoyed a long and illustrious career – one that spans 40 years, in fact – and is no stranger to change. Currently, he oversees KPMG’s business in Africa, and calls his most important responsibilities developing people, outlining the vision for KPMG, and setting the strategy for how the firm will move forward. “Our clients are increasingly telling us they want to succeed in Africa but in order to do that they need a firm that can provide a single point of contact to meet all of their expectations in the region. This guides our strategy.”
4 reasons for July's unchanged interest rate - KPMG's Maura Feddersen
In line with market expectations, the central bank’s Monetary Policy Committee (MPC) announced earlier this month that it would leave the leading policy rate unchanged at 7%, keeping the prime lending rate at 10.5%. Maura Feddersen (pictured), Senior Economic Advisor with KPMG Economics, Financial Risk Management, has identified four reasons why the South African Reserve Bank (SARB) kept interest rates unchanged.
Finance flash: the TOP-10 articles of week 29
Do you want to keep up to date with the latest developments in finance, but you are short of time? Don’t worry. CFO South Africa weekly collects 10 of the most important articles from international media for your convenience.
Essential learning as CFO Colin Brown shares how critical treasury is to Super Group
Through some incredible tech-enabled financial discipline, CFO Colin Brown helped saving Super Group from the abyss, setting the South African flagship firm on course again for massive expansion. Since then successes have been commonplace, with Colin (pictured with Discovery's Terrence Taylor) winning no less than three CFO Awards and the group regularly reporting spectacular growth. On 21 July 2016, at the CFO event on M&A, Colin provided some candid insight and valuable tips during a round table discussion with a select group of CFOs.
Lightning-fast reflexes: the agile team
While many other teams in a business have some flexibility as far as deliverables, reporting and project timelines go, this is a luxury not often enjoyed by the finance team. But as the pace of doing business is so much faster today, is it not time the finance function became more agile too? We spoke to experienced CFOs and other industry experts to get their insight. By Toni Muir "Being agile requires openness, the reservation of judgement and the ability to turn on a dime," says Terrence Taylor, general manager: Talent, Analytics, Leadership and Learning at Discovery. You need people with a cosmopolitan outlook, an open mindset and an eclectic set of experiences, he adds, and a leader who is comfortable sharing leadership and power. But what exactly is an agile team, and what makes it so? Moreover, why is this important to the finance function?
What CFOs can do to ensure a successful M&A transaction
“The first week after we were acquired, I went to sit with management and tried to get an understanding of why they had bought us and what they had promised their shareholders. I then took that, came back home and developed a strategy to give them what they wanted to see,” said Cobus Grove, CEO Digicore Holdings, speaking as a member of the panel at last night’s CFO South Africa event, Where the rubber meets the road, the second in a two-part series on M&A. The evening’s discussion covered the CFO’s role post-deal, including how CFOs meet the multitude of market, investor and board expectations, as well as how to best integrate systems processes and cultures. Cobus was joined by Deon Fredericks, CFO Telkom; Charl Keyter, CFO Sibanye Gold; Ryan McDougall, Group FD Trustco; and Walter Palk, Partner at KPMG.
Yunus Suleman appointed to the Gold Fields Board of Directors
Gold Fields Ltd recently announced the appointment of 59-year-old Yunus Suleman (pictured) as independent non-executive director to the Board of Gold Fields Ltd, effective 1 September 2016.
Finance flash: the TOP-10 articles of week 28
Brexit affects availability of finance jobs in SA
According to the latest Robert Walters South Africa Job Index, the last quarter saw a 6% overall decrease in job advertising volumes compared to Q2 2015 in SA across all finance functions; with a 15% annual decline in job advertisements in accounting and finance overall. Robert Walters, a leading specialist professional recruitment consultancy, attributes this decline to the compounding effects of consistent political uncertainty, a British and European economy which has been paralysed by Brexit, and challenging currency exchange rates for South African importers.
Are you future ready? Great insights at CFO breakfast in Cape Town
To be ready for the future, CFOs need to embrace imagination, make bold choices and be intimately connected to customers and employees. Those were some of the main takeaways at a lively CFO breakfast debate in Cape Town's Westin Hotel on Tuesday 12 July 2016. Preceded by a thought-provoking and often humorous presentation by futurist Morne Mostert, the high-level intimate gathering of about 35 people was treated to insights by Woolworths CFO Reeza Isaacs (3rd photo) and retired Remgro CFO Leon Crouse (bottom photo), who played a pivotal role in the success story of Vodacom.
Take every opportunity available to you, says Waseem Carrim, NYDA CFO
Never underestimate the value of relationships, says Waseem Carrim, CFO of the NYDA.
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KPMG South Africa is a professional services firm currently comprising of 148 partners and 2 169 colleagues, supported by an international network that comprises more than 207 000 people. The origins of KPMG South Africa go back to 1895 and through organic growth and strategic mergers, we have grown into one of the largest Audit, Tax and Advisory firms in the region, offering a wide-range of services to clients in the private and public sectors. There are over 10 000 KPMG South Africa alumni who are business leaders in all sectors of the South African economy.