Risk & Compliance

SA should reject MAFR says the AICPA

The Association of International Certified Professional Accountants (AICPA) has voiced its strong opposition to a plan by South Africa’s Independent Regulatory Board for Auditors (IRBA) to implement mandatory audit firm rotation (MAFR).

Deloitte: third party governance and risk management matures

As dependence on third parties becomes increasingly critical, organisations are being compelled to rapidly “catch-up” in enhancing the maturity of their Third Party Governance and Risk Management (TPGRM) processes. This, according to Deloitte’s 2016 global survey on the subject.

Moody's: Downgrade still a possibility in 2017

Ratings agency Moody’s has said that South Africa will face several key ratings decisions this year, and that the possibility of a downgrade still looms.

Age of radical uncertainty: WATCH business expert Terry Moore at #findaba16

Business expert Terry Moore examined the historical basis for what he called "an age of radical uncertainty" and provided advice for attendees on surviving a rapidly changing environment and disruption during a presentation at the Finance Indaba Africa 2016. While bemoaning the fact that risk had been passed onto employees, he also presented opportunities for financial executives and businesses in the seeming chaos.

Clean audit for Department of Social Development

The Department of Social Development, whose finance division is headed up by 2016 CFO Awards nominee Clifford Appel, has received a clean audit for the year 2015/2016. It was one of nine other national departments to achieve this hard-won feat. According to the auditor-general (AG), the number of auditees that received financially unqualified opinions with no findings (clean audits) increased overall from 122 in 2013-14 to 152 in 2015-16.

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.

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.

Surviving In An Age of Radical Uncertainty - SAICA session with Terry Moore at #findaba16

“We have no idea where and who our competitors are anymore,” .said business expert Terry Moore in a workshop at the Finance Indaba Africa facilitated by the South African Institute of Chartered Accountants (SAICA). In his talk, titled Surviving In An Age of Radical Uncertainty he explored the challenges and opportunities facing chartered accountants and businesses in general.

Oversight and accountability: Auditor-General captivates Finance Indaba - #findaba16

A presentation by South African Auditor-General, Thembekile Makwetu was one of the hottest tickets at the inaugural Finance Indaba Africa – which opened at the Sandton Convention Centre in Johannesburg on 13 October 2016. The Auditor-General’s speech kicked off the 'Finance for Africa' track programme at the Indaba.

CFO cocktail event closes Finance Indaba - exclusive insights from Euler Hermes

To close the Finance Indaba Africa in style, CFOs and FDs are invited to an exclusive CFO South Africa cocktail function, in collaboration with global credit insurance company Euler Hermes. One of Europe's most revered analysts, chief economist Ludovic Subran, will give a insightful talk about the biggest risks that (South) African CFOs are facing and the best ways to deal with it. To warm up for the main event, we asked Ludovic a few questions.

Longer tenure mulled for joint-audits: IRBA CEO Bernard Agulhas

The mandatory audit firm rotation (MAFR) that will be introduced in South Africa next year might include incentives for Big 4 firms to partner with smaller, black-owned competitors. The Independent Regulatory Board for Auditors (IRBA) is considering to allow auditors to stay with the same client for a longer period, provided they enter into joint audits when their mandatory tenure comes to an end, says IRBACEO Bernard Agulhas. In this exclusive interview with CFO South Africa he also notes his disappointment about the negative response from CFOs to mandatory firm rotation.

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.

SA retains top position for auditing and reporting standards for seventh year

The Independent Regulatory Board for Auditors (IRBA) has welcomed the news that South Africa has been ranked yet again as the world’s number one for auditing and reporting standards, making it the seventh consecutive year that the country holds this position. As the audit regulator, the IRBA is the statutory body falling within the National Treasury mandated with the protection of the investing public through effective regulation of auditors to ensure high quality independent audits in which investors can place their trust.

Meet cricket's new auditor: Nkonki partner Zakhele Nkosi

Earlier this month, Cricket South Africa (CSA) made the landmark decision to appoint black-owned firm Nkonki as auditor for the organisation and all its members. For many years, CSA was audited by Deloitte and the clubs each had their own auditors. The man tasked with overseeing the job is Nkonki partner Zakhele Nkosi. We asked him what it is like to be the lead engagement partner for such a historic institution.

Complying with the new BEE codes - EY's Sugan Palanee on how to get started

The BEE journey must not be seen as just another a tick-box exercise, says Sugan Palanee, Head of BEE Services at EY. Rather, it should be viewed as an evolutionary journey which, while it may come with several challenges, will bring with it as many opportunities that will benefit the entire business ecosystem.

Finance Indaba 2016: Increase your understanding of internal audit with IIA SA

“In the current volatility, uncertainty and complexity, internal audit brings objective assurance to the finance professional who is constantly under pressure.” says Dr Claudelle von Eck, CEO of the Institute of Internal Auditors South Africa (IIA SA), a gold partner at the Finance Indaba Africa 2016 on 13 and 14 October 2016 at the Sandton Convention Centre in Johannesburg.

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.”

Finance Indaba 2016: Nkonki isn't your average external auditor

"We will be talking about the mandatory audit firm rotation and our views on the positive aspects and the focus on auditor independence, how companies can gear up when it does come into play and how we play a part in this as Nkonki,” says Mitesh Patel, Managing Partner of Nkonki, a gold partner at the Finance Indaba Africa 2016 on 13 and 14 October 2016 at the Sandton Convention Centre in Johannesburg.

Finance Indaba 2016: RSM covers all aspects of business

"We have exposure to the regulatory environments in 120 countries and can share these global experiences and how they impact local operations," says Brian Eaton, CEO of RSM South Africa, a silver partner at the Finance Indaba Africa 2016 on 13 and 14 October 2016 at the Sandton Convention Centre in Johannesburg.

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.”

Only nine out of 353 South African audit partners are black

Out of the 353 audit partners which sign off on the financial statements of all JSE-listed companies, only nine are black African and over 90 percent are audited by a few firms. That is according to Bernard Agulhas, CEO of the Independent Regulatory Board for Auditors (IRBA), which intends to force companies to hire new audit firms on a regular basis to ensure independence and promote transformation.

Private Investment Consortium acquires Transparent Services BV

Specialist data mining and recovery audit services company, Transparent, founded in 2000 and headquartered in Amsterdam, the Netherlands, has been acquired by Transparent Services BV – a newly established entity owned by investors with a background in investment banking and private equity. Willem-Jeroen Stevens (pictured), founder of Transparent, said:

Finance Indaba 2016: Raise your business intelligence with Inavit iQ

"In short, we help you to design your organisation to ensure you have the right people in the right seats, without which your business becomes uncompetitive, lose market share and profit," according to Inavit iQ, a silver partner at the Finance Indaba Africa 2016 on 13 and 14 October 2016 at the Sandton Convention Centre in Johannesburg.

Nkonki joint auditor Telkom: `a major step` for transformation

The appointment of Nkonki as joint auditor of Telkom is "a major step towards transforming the South African auditing profession", says managing partner Mitesh Patel in an exclusive interview with CFO South Africa. Last week Telkom shareholders approved Nkonki's appointment as external auditors with EY.

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.

Data governance in times of POPI and cyber crime - Yolanda Smit, PBT Group

An increase in cyber attacks targeting businesses and legislative requirements like the Protection of Personal Information Act (POPI) have brought attention to the need for effective data governance, says Yolanda Smit, Strategic Business Intelligence Manager at PBT Group. At its heart, data governance focuses on driving enterprise data management practices to the next level of maturity, where data is being managed intentionally and not just as an afterthought. Data security and privacy management, data architecture management, data quality management, records management, business intelligence, and data operations management are all vital elements in this new discipline of management.

Finance Indaba 2016: SekelaXabiso drives continuous improvement

"We have become synonymous with delivering sustainable good governance in the public sector and driving continuous improvement in both our public and private sector operations," says Thandeka Zondi, strategy and business development director at SekelaXabiso, a platinum partner at the Finance Indaba Africa 2016 on 13 and 14 October 2016 at the Sandton Convention Centre in Johannesburg.

Insider threats: 10 questions CFOs need to ask - by J2's John Mc Loughlin

CFOs need to actively manage IT risk, says John Mc Loughlin, Managing Director of software company J2: “It is vital that the CFO take an active role in managing this risk – as it appears IT may not have the executive drive to get it done themselves.” In this article, John shares some of the top questions CFOs must ask themselves when dealing with risk management and threats, and before declaring their IT policy as sound.

Kenya ranks in top five improving nations in corporate governance

A recently released report by the African Corporate Governance Network (ACGN)has revealed that Kenya ranks 14th in Africa with regards to corporate governance, and is one of the top five improving nations in this regard.

Creativity needed for big data to drive revenue, says risk actuary Stefan Swanepoel

“Taking advantage of opportunities requires more creative thinking than simple analysis of data,” says risk actuary Stefan Swanepoel, the principal consultant for Directrix Risk Services, an actuarial and corporate risk management consultancy specialising in the pricing, financing and control of risks. Swanepoel has more than 13 years of experience in this field and currently consults to many of the largest South African companies, as well as many large international corporates. A fellow of the Institute of Risk Management and the Actuarial Society of South Africa, Swanepoel followed his father, a state actuary, into the profession after serving time in the military. He spoke to us about the impact of Big Data, risk management, the changing climate in South Africa and how it compares to foreign nations.

King IV recognises the importance of tax governance

It is becoming increasingly common for shareholders, employees, customers and members of the public to want to know that an entity’s tax affairs are compliant and that they meet a standard which is beyond reproach. As such, boards of companies are having to think harder about how they can discharge their responsibilities to govern their entities’ tax affairs.

Meet Walter Leonhardt (ABI), winner of two awards at the CFO Awards 2016

“Yeehaw!” said a clearly elated Walter Leonhardt, financial director of ABI, when accepting the Compliance & Governance Award from SizweNtsalubaGobodo CEO, Victor Sekese. Becoming serious again, Walter continued: “Thank you very much for the recognition. The words Prof Nkuhlu said earlier about how seriously we all need to take governance and compliance got me thinking. I work for an organisation where fast and furious is sometimes quite sexy. There’s lots of things happening all the time and we take compliance and governance seriously. I thank you very much for this recognition.”

IFRS 15 and its impact explained - by KPMG's Pierre Conradie

In May 2014, the accounting standards setting authorities released a new standard on revenue recognition effective for periods beginning on or after 1 January 2018: IFRS 15 Revenue from Contracts with Customers (IFRS 15). IFRS 15 brings together in one standard the core principles for revenue recognition across all sectors. Pierre Conradie, Director at KPMG Advisory Services, explains the impact of IFRS 15, especially as far as the property sector is concerned. While publishing a new standard on revenue recognition is a major achievement, for many companies, the real work is just beginning. The new requirements will affect companies in different ways and those engaged in major projects in South Africa – such as telecoms, public utilities, engineering, construction and real estate industries – could see significant changes to the timing of revenue. Although earlier concerns that revenue may be delayed until practical completion of a contract or that a single contract may be broken down into many small accounting units have been largely addressed, the devil is nevertheless in the detail.

Internal audit can give you competitive advantage, says IIA SA's Claudelle von Eck

Organisations that have embraced internal audit, employ competent internal auditors and give internal audit the freedom to execute its duty in accordance with the international standards find that it’s not the unwelcome watchdog for which it's sometimes mistaken. In fact, internal audit can confer a competitive advantage, suggests Dr Claudelle von Eck, CEO of the Institute of Internal Auditors South Africa (IIA SA).

Finance vs. internal auditors: time to stop the bloody war

“Here come the auditors” is a rally cry that is often heard in organisations. Being in Internal Audit for twenty-five years I have found that there has always been a distinct sense of rivalry and antagonism between the finance department and Internal Audit. Very much like the Blues and the Reds where we - the internal auditors - are seen to be on different teams, fighting each other. With the winner being the one who can either hold out or the one who can attack and get the results.

The crucial role of the risk register: a chat with Aveng Infraset's FD Thobeka Ntshiza

Thobeka Ntshiza, Financial Director of Aveng Infraset and a finalist in the 2015 SAICA Top 35-Under-35, is a regular at CFO South Africa events and believes that peer-to-peer learning is a non-negotiable. "You actually cannot afford not to attend such events. It's part of your growth and development as an FD, and in the CFO space," she says. Thobeka also believes in the importance of having your finger on the pulse of the company's financials, and going "into the trenches" to check the health of the business.

Everything CFOs should know about fraud - a chat with EY's Susan Breytenbach

“With fraud the devil is often in the detail,” says Susan Breytenbach, a leading partner in EY’s forensic services department. “For the CFO there is a fine balance between not being in the detail, whilst still maintaining control to ensure that the checking gets done by the appropriate level of person to the appropriate level of detail.”

Jo Pohl (Telesure): risk should be a competitive advantage

Clean audit for Pikitup CFO Suren Maharaj

Pikitup, under the guidance of CFO Suren Maharaj (pictured), achieved a clean audit for the 2014/2015 financial year. Together with becoming solvent for the first time in the company's 14-year history, this is a notable achievement.

Skilled local resources key in Africa, says Illovo CFO Mohammed Abdool-Samad

Africa is complex and diverse, so here’s a secret tip from Mohammed Hoosen Abdool-Samad, finance director at Illovo Sugar. “To succeed, you need to have a deep understanding of the political and macroeconomic landscape. This can only be done by having skilled and experienced local resources that understand the business environment. Overreliance on expats can result in the business being ‘unplugged’ from the local business environment."

Sub-Saharan Africa seen as promising consumer market, says Agility survey

The recently released 'Agility Emerging Markets Logistics Index 2016' offers interesting insight into worldwide markets. It also pegs consumer spending by a fast-growing middle class as important a growth driver for Africa as mineral and resource demand. In the survey, industry executives ranked South Africa, Ghana, Kenya and Nigeria as the most promising markets in Sub-Saharan Africa. According to the more than 1,100 executives who responded to the survey, poor infrastructure, lack of power generation and corruption pose the greatest risk to African economies.

Major business risks identified - Allianz Risk Barometer

According to the 2016 Allianz Risk Barometer, which surveyed over 800 risk managers and insurance experts from more than 40 countries, the top three leading risks for businesses in Africa and the Middle East are macroeconomic developments (44%), market developments (44%) and changes in legislation and regulation (32%).

How to achieve a clean audit, an interview with CFO Shabeer Khan (the dti)

In an exclusive interview with CFO South Africa, Shabeer Khan, chief financial officer of the Department of Trade and Industry (the dti), explains how he and his dedicated team managed to achieve a clean audit. Somewhere in Pretoria there is a big government department where the financial statements reported are of the highest quality, supply chain management legislation is adhered to and wasteful expenditure is a thing of the past. In September the Minister of Trade and Industry proudly announced that the dti had just received a clean audit for the 2014/15 financial year. He also deservedly deflected much of the praise to CFO Shabeer Khan and his highly committed team.

Exclusive - Prof Mervyn King: `CFOs critical for integrated thinking`

“My grandson Daniel, who calls me ‘judge’ like many other people, recently said ‘Judge, you are always in airplanes, you must have a big carbon footprint?’ He also asked me if I recycle all the paper I use. And that was coming from an eight-year-old!” Not only is Prof Mervyn King’s anecdote endearing, the former Supreme Court judge and global governance guru also makes a good point; even an eight-year-old knows that the world is changing. “It will be a disaster if companies don’t start thinking in an integrated way.”

Armscor receives clean audit for 2014/2015 financial year

Armscor, an agency of the Department of Defence and Military Veterans which also undertakes research and development and disposes of surplus military equipment, was recently presented with a Clean Audit award by the Auditor-General of South Africa for achieving a clean audit for the year ending 31 March 2015.

Nkonki hosts lively CFO dinner with audit standards expert Dan Montgomery

The new audit report changes issues by the International Auditing and Assurance Standards Board (IAASB) are a “win-win situation”, because users have access to more information and there is scope for more intensive dialogue with management. That was the core message of former IAASB Deputy Chair Dan Montgomery during a successful CFO dinner on 12 October organised by CFO South Africa and hosted by Nkonki, a leading firm of registered auditors, accountants and advisers.

IP theft, extortion and interuption - a new generation of cyber risks

CFOs should prepare for a new generation of cyber risks which are fast evolving, moving beyond the established threats of data breaches, privacy issues and reputational damage to operational damage, business interruption and even potentially catastrophic losses. A new report – A Guide to Cyber Risk: Managing The Impact of Increasing Interconnectivity – examines the latest trends in cyber risk and emerging perils around the globe.

CFO Shabeer Khan achieves clean audit for DTI

South Africa's Department of Trade and Industry (dti), along with several of its entities, has been given a clean audit for 2014/15 by the auditor general of SA, which means the dti's financial statements for the period in question are free of material misstatements.

Dumisani Dlamini - 5 ways public sector CFOs can get a clean audit

The National Arts Council (NAC) of South Africa recently received a clean audit and was praised by the Auditor-General South Africa, Thembekile Kimi Makwetu. NAC CFO Dumisani Dlamini is one of our Expert Insight contributors. In this article he discusses 5 things that public sector CFOs should consider in the pursuit of a clean audit.

Plaudits for clean audit National Arts Council

For the first time since its inception in 1997, the National Arts Council (NAC) of South Africa has received a clean audit. The Auditor-General South Africa, Thembekile Kimi Makwetu, awarded the entity a clean audit for the 2014/2015 financial period and it was also announced that the NAC has also achieved 90 percent of the targets stated in its Annual Performance Plan.

Prof. Watson: 5 areas of improvement for integrated reports

A fellow adjudicator of EY’s Excellence in Integrated Reporting awards asked me to identify 5 areas where companies should be focussing on in order to improve their integrated reports. This is my response based on my review of the 2014 integrated reports of the 100 largest listed companies and 10 largest state owned companies.

Lessons from Alexander Forbes at inspiring CFO Master Class

"If you think you have a good deal, look at all the stakeholders again and craft an exceptional deal." That was one of the messages from Deon Viljoen, CFO at Alexander Forbes, at the CFO event 'Executing an effective growth strategy' at the Nedbank headquarters in Johannesburg on 30 July 2015. Viljoen was elected CFO of the Year in May and his rendition of the way he has dealt with the turbulent recent history at the country's biggest pension funds administrator made it clear why. "I have aged in dog years, but also have gained dog years experience," he said.

Meet Cobus Grove (Digicore), winner Governance & Compliance Award 2015

When Cobus Grove joined Digicore two years ago the company’s share price was a measly 125. After an impressive reorganisation that share price was 325 last December. The success of Grove and temporarily returned founder and CEO Nick Vlok didn’t go unnoticed. Last month, just after Grove was presented the Compliance and Governance Award at this year’s CFO Awards, Nasdaq-listed Novatel Wireless made an offer over R1 billlon on the company – and the share price shot up to 410.

Everything CFOs need to know about social media risk

Pornography, obscenity, piracy and your business - there are some things you wish you didn't know about social media...

Editorial: Is terrorism a risk for CFOs eyeing African opportunities?

With almost 150 students mercilessly massacred at the university of Garissa in Eastern Kenya last week, terrorism is suddenly top of mind again for (South African) businesses looking to move (further) into the continent. Within a week after the successful and democratic elections in Nigeria, the pendulum has swung back with a vengeance. Tourists are shocked and are cancelling their Kenyan safaris in droves, although places like the Masai Mara have been out of bounds for the Islamic extremists of al-Shabaab so far. Should CFOs show similar caution?

SADC rallies behind fourth bottom line

The representatives of more than 54 multinational, regional and local companies attended the SADC Multi-Sectoral High-Level Taskforce dinner on Monday, 23 March at the Hyatt Regency in Johannesburg, along with SADC ministers, UN dignitaries and functionaries from various health NGOs.

Brett Tromp, Discovery Health: reporting on health should be compulsory

Besides financial, social and environmental data, integrated reports should include data on the health and wellness of staff, argues Brett Tromp, CFO of Discovery Health. We asked him what his ‘fourth bottom line’ means and why CFOs should care about health in the first place.

Prof. Watson: 6 tips to get to grips with IFRS 15 (Revenue)

The publication of the new standard on revenue, IFRS 15, in May 2014 is the most significant change to IFRS in the last couple of years. Almost every company earns revenue in some form or other, and for most of those companies revenue is the single largest figure in the financial statements. Preparers need to prioritise getting to grips with how IFRS 15 will impact their business.

6 Questions for KPMG's Granville Smith: turn risk into opportunity

"Turn risk on its head and explore the opportunities offered by signals of change in the marketplace," says Granville Smith, KPMG Partner in charge of the South African KPMG’s Internal Audit Business Division. We spoke to Granville about what makes a good internal auditor and he gave some great tips for CFOs and CAs of 2015. "Stay away from the tick-box approach!"

5 key insights about CFOs in Africa

KPMG’s 2014 Africa CFO Survey is based on the international survey Being the best: Inside the intelligent finance function. It collates and interprets responses from 264 CFOs of medium-to-large companies with a quarter of them working for companies with revenue over $1 billion. Here are 5 key insights about African CFOs from that survey.

Master Class Kerry Jenkins, Head Regulatory and Compliance KPMG: `Good governance is good for business`

Good governance is good for business, was the underlying message of the Master Class hosted by Dr Kerry Jenkins, head of the Regulatory and Compliance unit at KPMG, at the CFO South Africa Event Risk, Compliance & Control Forum at the Cape Town Club last week.

Editorial: judges revealed for CFO Awards, governance improving in Africa

I am a little bit biased, but for me the biggest CFO news this week was the fact that several members of the panel of judges for this year’s CFO Awards have committed themselves to adjudicate the 2015 CFO Awards as well. As of today, we have been able to confirm the involvement of top CEOs Asher Bohbot (EOH), Victor Sekese (SizweNtsalubaGobodo), Jonathan Lang (Bowman Gilfillan Africa), Delphine Maïdou (Allianz GCS Africa), Claudelle von Eck (The Institute of Internal Auditors South Africa) and Rob Otty (Norton Rose Fulbright South Africa). Prof. Ben Marx (University of Johannesburg) is also on the team again.

Minister Ivan Meyer gives CFOs insights in the public & private sector

“I was so happy to be here today because it has given me the confidence that we have capable financial skills here in South Africa,” said Dr Ivan Meyer, minister for finance in the Western Cape after attending the CFO South Africa event Risk, Compliance & Control Forum at the Cape Town Club on Thursday night. “This CFO forum confirmed to me that the CFOs in the public and private sectors are very capable.”

Newsletter | CA examination changes good or bad? | Today last CFO Event of 2014 | KPMG principal sponsor CFO South Africa

CFO South Africa Newsletter | Thursday November 13 Dear CFO South Africa Member, Read Exclusive CFO South Africa Articles CA examination changes – good news or bad news? Close to three quarters of CFOs of listed South African companies are South African Chartered Accountants (SAICA research published October 2014). November 2014 sees a major shift in the focus and form of the final assessment written to qualify as a chartered accountant. Is this good news or bad news for current and future CFOs and the staff that they employ? CFO of the Week: Vuyo Mafata (UIF): investing billions for the unemployed “What makes me get out of bed in the morning is the contribution that I think I can make to the plight of the unemployed in South Africa,” says Vuyo Mafata, CFO at the Unemployment Insurance Fund (UIF). In this interview Mafata talks about the challenges of being a CFO in a governmental organisation and the exciting responsibility he has of managing an investment portfolio of more than R100 billion. KPMG throws its weight behind CFO South Africa Professional services firm KPMG will be the principal sponsor for the next year of CFO South Africa, the dedicated networking and knowledge sharing platform for CFOs and Financial Directors. In addition to sponsoring six events, KPMG will be also be the main partner for the 2015 CFO Awards, a prestigious gala event that recognises leaders in South Africa’s finance world. Read more exclusive articles on cfo.co.za - Editorial: CFOs with benefits? Today: last CFO Event of 2014 Minister Ivan Meyer & CFO SARS at the Cape Town Club Today CFO South Africa will host the last CFO Event of 2014 on Risk, Compliance & Control together with 75 other CFOs. How do you take the lead in letting your company achieve its goals in a way that is open, honest, ethical and principled. How can you contribute to build and implement systems designed to detect and prevent compliance breaches and how do you lead the development of a strong compliance culture. CFOs should consider embedding a thoughtful awareness of risk and compliance in their organization. Listen to best practices to help the company stay in control of the risks it chooses to take. Is your agenda free this afternoon? Join this event free of charge with a Master Class, exclusive Round Tables and a list of very interesting speakers and attendees: 16.45 Keynote by Ivan Meyer, Minister of Finance, Western Cape 17.15: - Round Table Public Finance - Round Table Economic Development South Africa - Master Class Risk, Compliance & Control 18.45 Start of CFO Café 19.15 Keynote by Bob Head, Acting Chief Financial Officer, SARS Don’t miss out on this last CFO Event of 2014 from 4pm - 8pm and register now. Discuss with your peers issues on Risk, Compliance & Control. Partners CFO Event Risk, Compliance & Control: Continuous Professional Development Points Did you know all events of CFO South Africa are eligible for SAICA CPD points? By attending CFO South Africa's events and training courses you will stay compliant. Join the ultimate peer to peer advisory network Various CFOs and finance directors from Eskom, Nedbank, Transnet, SAB, Nike, Standard Charered Bank, Hollard, Absa, Business Connexion and Super Group are members of CFO South Africa. Your peers understand best the issues you face and the challenges that impact your business. Together you will share your experiences at CFO South Africa’s events and help you advance in your career, company and knowledge. Get introduced to experienced colleagues that are happy to share their knowledge with you. Peer-to-peer consulting is by far the best and most cost effective way to help you solve problems. Are you interested? Please see our membership page for more information here. Upcoming CFO South Africa Events Join the CFO Events with inspiring hosts and experts who will share their insights and experiences with you. Register now for these events and boost your company, network, career and knowledge. CFO South Africa Events in 2015 Feb 19 Johannesburg | Moving into Africa Mar 19 Johannesburg | Get Smart in 2015 Apr 16 Johannesburg | Capital & Finance May 14 Johannesburg | CFO Awards 2015 July 30 Johannesburg | Corporate Growth Sept 17 Johannesburg | Digital Transformation Nov 19 Cape Town | Risk, Compliance & Control Register now for one of the upcoming CFO South Africa Events. Please note that all our CFO South Africa events are for senior financial executives. CFO South Africa offers Platinum memberships to CFOs and finance directors. For more information please have a look here and contact Jurrien Morsch at [email protected] Stay connected with CFO South Africa Follow CFO South Africa on Twitter and LinkedIn Stay up to date on what is happening in the world of finance by following us on Twitter @CFOSouthAfrica and LinkedIn. Next to that you can keep track of newly published interviews with CFOs and CEOs. Feel free to contact us Any suggestions or comments are welcome. Kind Regards, Melle Eijckelhoff Director CFO South Africa | [email protected] To control which emails you receive from CFO South Africa, please change your email preferences at cfo.co.za by selecting under settings "I do not want to receive emails from CFO South Africa | Finance Professionals South Africa"

Newsletter | How to become a happier CFO | Fraud in your rearview mirror? | Join the last CFO Event of 2014

CFO South Africa Newsletter | Thursday October 30 Dear CFO South Africa Member, Read Exclusive CFO South Africa Articles CFO of the Week: Andre van der Westhuizen, Keeley Granite: use BEE to look criticall... “BEE can be an opportunity instead of a problem,” says Andre van der Westhuizen, CFO at Keeley Granite, a mining services company based in the platinum belt near the North West town of Brits. In this interview the Chartered Accountant tells a remarkable story about fighting off multiple health scares, innovative ways of dealing with B-BBEE and some thoughts on how to become a better CFO. “I love getting things working and I hate wasting time. I call myself the eternal student.” Expert Insight: Jonathan le Roux: Is Fraud in your rearview mirror? An Expert Insight by Jonathan Yudelowitz, Joint Managing Director of YSA (Pty) Limited, Author of Smart Leadership and a well-known Leadership Expert and Executive Coach. “It takes more than intelligence for an intelligent person to behave intelligently,” Dostoevsky astutely observed. What this means for a Chief Financial Officer (CFO) or Financial Director (FD) is that to be effective, he or she must develop self-awareness and become fully comfortable with the non-rational in himself or herself, others and the world. Stanford Payne: how to become a happier CFO CFOs should remember the lessons about opportunity cost and plan better to have the careers and lives they want. That is the message of Executive Coach Stanford Payne, a CA who will be writing Expert Insights for this website over the course of the next year. To kick things off, we have interviewed him about his background and principles. Read more exclusive articles on cfo.co.za - Editorial: Listen to the rating agencies (for a change?) Join the last CFO Event of 2014 November 13 at the beautifully restored Cape Town Club CFO South Africa invites you to join the last CFO Event of 2014 on Risk, Compliance & Control together with 75 other CFOs. How do you take the lead in letting your company achieve its goals in a way that is open, honest, ethical and principled. How can you contribute to build and implement systems designed to detect and prevent compliance breaches and how do you lead the development of a strong compliance culture. CFOs should consider embedding a thoughtful awareness of risk and compliance in their organization. Listen to best practices to help the company stay in control of the risks it chooses to take. Join this event free of charge with a Master Class, exclusive Round Tables and a list of very interesting speakers and attendees: 16.45 Keynote by Ivan Meyer, Minister of Finance, Western Cape 17.15: - Round Table Public Finance - Round Table Economic Development South Africa - Master Class Risk, Compliance & Control 18.45 Start of CFO Café 19.15 Keynote by Bob Head, Acting Chief Financial Officer, SARS Don’t miss out on this last CFO Event of 2014 from 4pm - 8pm and register now. Discuss with your peers issues on Risk, Compliance & Control. Partners CFO Event Risk, Compliance & Control: Continuous Professional Development Points Did you know all events of CFO South Africa are eligible for SAICA CPD points? By attending CFO South Africa's events and training courses you will stay compliant. Join the ultimate peer to peer advisory network Various CFOs and finance directors from Eskom, Nedbank, Transnet, SAB, Nike, Standard Charered Bank, Hollard, Absa, Business Connexion and Super Group are members of CFO South Africa. Your peers understand best the issues you face and the challenges that impact your business. Together you will share your experiences at CFO South Africa’s events and help you advance in your career, company and knowledge. Get introduced to experienced colleagues that are happy to share their knowledge with you. Peer-to-peer consulting is by far the best and most cost effective way to help you solve problems. Are you interested? Please see our membership page for more information here. Reach 5000 CFOs in the first CFO Magazine South Africa CFOs want to know your story Showcase your work and that of your company via CFO Magazine and demonstrate your added value to 15.000 CFOs, finance leaders and their direct reports as well as hundreds of international investors looking in how to move in to Africa. Get the undivided attention of the top financial decision makers and deliver the latest insights on improving the finance function. CFO Magazine: Knowledge and know-how for CFOs Read the latest insights from award winning CFOs: Simon Ridley, Standard Bank, Anoj Singh, Transnet, John King, EOH, Colin Brown, Super Group and Aarti Takoordeen, JSE and also featured interview with Nedbank's CEO Mike Brown. Covered topics: - Who are South Africa's leading CFOs? - How do successful CFOs move into Africa? - Why should you transform your finance function and how can you do it? - How do you attract and retain talent? - Who are the preferred advisors to South African CFOs? - How do you make the shift towards the digital world? You should not miss out. Put your company in the spot light, get your message across. Advertise or get interviewed for CFO Magazine. Interested? Contact Jurrien Morsch at [email protected] Upcoming CFO South Africa Events Join the CFO Events with inspiring hosts and experts who will share their insights and experiences with you. Register now for these events and boost your company, network, career and knowledge. CFO South Africa Events in 2014 Nov 13 Cape Town | Risk, Compliance & Control CFO South Africa Events in 2015 Feb 19 Cape Town | Moving into Africa Mar 19 Sandton | Get Smart in 2015 Apr 16 Sandton | Capital & Finance May 14 Sandton | CFO Awards 2015 Register now for one of the upcoming CFO South Africa Events. Please note that all our CFO South Africa events are for senior financial executives working in companies with revenues exceeding 100 million rand. CFO South Africa offers Platinum memberships to CFOs and finance directors. For more information please have a look here and contact Jurrien Morsch at [email protected] Stay connected with CFO South Africa Follow CFO South Africa on Twitter and LinkedIn Stay up to date on what is happening in the world of finance by following us on Twitter @CFOSouthAfrica and LinkedIn. Next to that you can keep track of newly published interviews with CFOs and CEOs. Feel free to contact us Any suggestions or comments are welcome. Kind Regards, Melle Eijckelhoff Director CFO South Africa | [email protected] To control which emails you receive from CFO South Africa, please change your email preferences at cfo.co.za by selecting under settings "I do not want to receive emails from CFO South Africa | Finance Professionals South Africa"

Newsletter | Saying NO to the CEO! | Partnering the CEO makes the job fun | Hear leading experts: Finance Minister and CFO SARS

CFO South Africa Newsletter | Thursday October 23 Dear CFO South Africa Member, Read Exclusive CFO South Africa Articles CFO of the Week: Tudor Hungwe, SAMSA: Partnering the CEO makes the ... When Tudor Hungwe joined the South African Maritime Safety Authority (SAMSA) more than five years ago, it was a matter of “getting the accounting right and putting controls in place”. With time though, his role has shifted. “The priorities in my day-to-day job have changed. I find myself working more and more as a partner to the executive team. It is challenging, but it makes the creative juices flow and it is much more fun.” Expert Insight: Saying NO to the CEO! An Expert Insight by Jonathan Yudelowitz, Joint Managing Director of YSA (Pty) Limited, Author of Smart Leadership and a well-known Leadership Expert and Executive Coach. “It takes more than intelligence for an intelligent person to behave intelligently,” Dostoevsky astutely observed. What this means for a Chief Financial Officer (CFO) or Financial Director (FD) is that to be effective, he or she must develop self-awareness and become fully comfortable with the non-rational in himself or herself, others and the world. Anna Puzone, Zetta Solutions: keep information management simple “Our biggest message to CFOs is to strive for simplicity,” says Anna Puzone, head of enterprise performance management at information management company Zetta Business Solutions. The two year old firm is part of IS Partners (established in 2001), which implements Microsoft-centered solutions. “Zetta was born out of the need for a client centric approach to technology solutions. Our approach is advisory in nature, as we seek to offer solutions in a simple, cost effective and impactful manner” Read more exclusive articles on cfo.co.za - Keynote Speaker CFO Event Risk, Compliance & Control: Bob Head, Acting CFO at SARS: improving schools by influencing with... Hear from leading experts: Minister of Finance and CFO of SARS November 13 at the amazing Cape Town Club CFO South Africa invites you to join the last CFO Event of 2014 on Risk, Compliance & Control together with 75 other CFOs. How do you take the lead in letting your company achieve its goals in a way that is open, honest, ethical and principled. How can you contribute to build and implement systems designed to detect and prevent compliance breaches and how do you lead the development of a strong compliance culture. CFOs should consider embedding a thoughtful awareness of risk and compliance in their organization. Listen to best practices to help the company stay in control of the risks it chooses to take. Join this event free of charge with a Master Class, exclusive Round Tables and a list of very interesting speakers and attendees: 16.45 Keynote by Ivan Meyer, Minister of Finance, Western Cape 17.15: - Round Table Public Finance - Round Table Economic Development South Africa - Master Class Risk, Compliance & Control 18.45 Start of CFO Café 19.15 Keynote by Bob Head, Acting Chief Financial Officer, SARS Don’t miss out on this last CFO Event of 2014 from 4pm - 8pm and register now. Discuss with your peers issues on Risk, Compliance & Control. Partners CFO Event Risk, Compliance & Control: Continuous Professional Development Points Did you know all events of CFO South Africa are eligible for SAICA CPD points? By attending CFO South Africa's events and training courses you will stay compliant. Join the ultimate peer to peer advisory network Various CFOs and finance directors from Eskom, Nedbank, Transnet, SAB, Nike, Standard Charered Bank, Hollard, Absa, Business Connexion and Super Group are members of CFO South Africa. Your peers understand best the issues you face and the challenges that impact your business. Together you will share your experiences at CFO South Africa’s events and help you advance in your career, company and knowledge. Get introduced to experienced colleagues that are happy to share their knowledge with you. Peer-to-peer consulting is by far the best and most cost effective way to help you solve problems. Are you interested? Please see our membership page for more information here. Reach 5000 CFOs in the first CFO Magazine South Africa CFOs want to know your story Showcase your work and that of your company via CFO Magazine and demonstrate your added value to 15.000 CFOs, finance leaders and their direct reports as well as hundreds of international investors looking in how to move in to Africa. Get the undivided attention of the top financial decision makers and deliver the latest insights on improving the finance function. CFO Magazine: Knowledge and know-how for CFOs Read the latest insights from award winning CFOs: Simon Ridley, Standard Bank, Anoj Singh, Transnet, John King, EOH, Colin Brown, Super Group and Aarti Takoordeen, JSE and also featured interview with Nedbank's CEO Mike Brown. Covered topics: - Who are South Africa's leading CFOs? - How do successful CFOs move into Africa? - Why should you transform your finance function and how can you do it? - How do you attract and retain talent? - Who are the preferred advisors to South African CFOs? - How do you make the shift towards the digital world? You should not miss out. Put your company in the spot light, get your message across. Advertise or get interviewed for CFO Magazine. Interested? Contact Jurrien Morsch at [email protected] Upcoming CFO South Africa Events Join the CFO Events with inspiring hosts and experts who will share their insights and experiences with you. Register now for these events and boost your company, network, career and knowledge. CFO South Africa Events in 2014 Nov 13 Cape Town | Risk, Compliance & Control CFO South Africa Events in 2015 Feb 19 Cape Town | Moving into Africa Mar 19 Sandton | Get Smart in 2015 Apr 16 Sandton | Capital & Finance May 14 Sandton | CFO Awards 2015 Register now for one of the upcoming CFO South Africa Events. Please note that all our CFO South Africa events are for senior financial executives working in companies with revenues exceeding 100 million rand. CFO South Africa offers Platinum memberships to CFOs and finance directors. For more information please have a look here and contact Jurrien Morsch at [email protected] Stay connected with CFO South Africa Follow CFO South Africa on Twitter and LinkedIn Stay up to date on what is happening in the world of finance by following us on Twitter @CFOSouthAfrica and LinkedIn. Next to that you can keep track of newly published interviews with CFOs and CEOs. Feel free to contact us Any suggestions or comments are welcome. Kind Regards, Melle Eijckelhoff Director CFO South Africa | [email protected]

Newsletter | Hear leading experts: Finance Minister and CFO SARS | Growth opportunities in sluggish market | Reach 5000 CFOs in CFO Magazine

CFO South Africa Newsletter | Thursday October 16 Dear CFO South Africa Member, Read Exclusive CFO South Africa Articles Bob Head, Acting CFO at SARS: improving schools by influencing with... Not being one to mince his words, Bob Head says his strength lies in “startups, turnarounds and sorting out unpleasant heaps”. The current Acting CFO of the South African Revenue Services (SARS) has an impressive CV. In this exclusive interview with CFO South Africa the fast-speaking Brit explains how business leaders can make a difference in South Africa’s “beleaguered” schools. “You learn to use influence without having power and you develop your listening skills.” And when pressed on the matter he says: “Yes, even I learnt to listen better. And any businessman is going to be more successful using influence rather than command and control – you get buy in.” In the News: Travel and IT innovation for Spur’s longtime CFO Ronel van Dijk Last month Spur Group announced that sales across its restaurants have increased by 13.5 percent and that restaurant turnover per annum now exceeds R5.5 billion. In the next year the group wants to open 10 new Spur outlets, 10 Panarottis‚ 7 John Dory’s‚ 8 Captain DoRegos and 6 outlets for The Hussar Grill. We thought that was reason enough to phone longtime CFO Ronel van Dijk and ask her about how her finance team has contributed to this success and the group’s exciting international prospects. Editorial: growth opportunities in a sluggish market The JSE is down, the rand is down and next week Finance Minister Nhlanhla Nene will probably tell us that South Africa’s GDP growth forecast is also down. These are worrisome trends, but they don’t come as a surprise for CFOs, who have seen the writing on the wall for some time now. At the same time, CFOs know it is not impossible to grow a business faster than the economy. Read more exclusive articles on cfo.co.za - Careers: Sasol appoints Nqwababa, Atkinson new CFO Esor Hear from leading experts: Minister of Finance and CFO of SARS November 13 at the amazing Cape Town Club CFO South Africa invites you to join the last CFO Event of 2014 on Risk, Compliance & Control together with 75 other CFOs. How do you take the lead in letting your company achieve its goals in a way that is open, honest, ethical and principled. How can you contribute to build and implement systems designed to detect and prevent compliance breaches and how do you lead the development of a strong compliance culture. CFOs should consider embedding a thoughtful awareness of risk and compliance in their organization. Listen to best practices to help the company stay in control of the risks it chooses to take. Join this event free of charge with a Master Class, exclusive Round Tables and a list of very interesting speakers and attendees: - 16.45 Keynote by Ivan Meyer, Minister of Finance, Western Cape - 17.15: - Round Table Public Finance - Round Table Economic Development South Africa - Master Class Risk, Compliance & Control 18.45 Start of CFO Café 19.15 Keynote by Bob Head, Acting Chief Financial Officer, SARS Don’t miss out on this last CFO Event of 2014 from 4pm - 8pm and register now. Discuss with your peers issues on Risk, Compliance & Control. Partners CFO Event Risk, Compliance & Control: Continuous Professional Development Points Did you know all events of CFO South Africa are eligible for SAICA CPD points? By attending CFO South Africa's events and training courses you will stay compliant. Join the ultimate peer to peer advisory network Various CFOs and finance directors from Eskom, Nedbank, Transnet, SAB, Nike, Standard Charered Bank, Hollard, Absa, Business Connexion and Super Group are members of CFO South Africa. Your peers understand best the issues you face and the challenges that impact your business. Together you will share your experiences at CFO South Africa’s events and help you advance in your career, company and knowledge. Get introduced to experienced colleagues that are happy to share their knowledge with you. Peer-to-peer consulting is by far the best and most cost effective way to help you solve problems. Are you interested? Please see our membership page for more information here. Reach 5000 CFOs in the first CFO Magazine South Africa CFOs want to know your story Showcase your work and that of your company via CFO Magazine and demonstrate your added value to 15.000 CFOs, finance leaders and their direct reports as well as hundreds of international investors looking in how to move in to Africa. Get the undivided attention of the top financial decision makers and deliver the latest insights on improving the finance function. CFO Magazine: Knowledge and know-how for CFOs Read the latest insights from award winning CFOs: Simon Ridley, Standard Bank, Anoj Singh, Transnet, John King, EOH, Colin Brown, Super Group and Aarti Takoordeen, JSE and also featured interview with Nedbank's CEO Mike Brown. Covered topics: - Who are South Africa's leading CFOs? - How do successful CFOs move into Africa? - Why should you transform your finance function and how can you do it? - How do you attract and retain talent? - Who are the preferred advisors to South African CFOs? - How do you make the shift towards the digital world? You should not miss out. Put your company in the spot light, get your message across. Advertise or get interviewed for CFO Magazine. Interested? Contact Jurrien Morsch at [email protected] Upcoming CFO South Africa Events Join the CFO Events with inspiring hosts and experts who will share their insights and experiences with you. Register now for these events and boost your company, network, career and knowledge. CFO South Africa Events in 2014 Nov 13 Cape Town | Risk, Compliance & Control CFO South Africa Events in 2015 Feb 19 Cape Town | Moving into Africa Mar 19 Sandton | Get Smart in 2015 Apr 16 Sandton | Capital & Finance May 14 Sandton | CFO Awards 2015 Register now for one of the upcoming CFO South Africa Events. Please note that all our CFO South Africa events are for senior financial executives working in companies with revenues exceeding 100 million rand. CFO South Africa offers Platinum memberships to CFOs and finance directors. For more information please have a look here and contact Jurrien Morsch at [email protected] Stay connected with CFO South Africa Follow CFO South Africa on Twitter and LinkedIn Stay up to date on what is happening in the world of finance by following us on Twitter @CFOSouthAfrica and LinkedIn. Next to that you can keep track of newly published interviews with CFOs and CEOs. Feel free to contact us Any suggestions or comments are welcome. Kind Regards, Melle Eijckelhoff Director CFO South Africa | [email protected] To control which emails you receive from CFO South Africa, please change your email preferences at cfo.co.za by selecting under settings "I do not want to receive emails from CFO South Africa | Finance Professionals South Africa"

Newsletter | CFO Eskom: Success comes through focus | 12 networking tips for CFOs | Keynotes from Minister Ivan Meyer and CFO SARS

CFO South Africa Newsletter | Thursday October 9 Dear CFO South Africa Member, Read Exclusive CFO South Africa Articles CFO of the Week: Tsholofelo Molefe, CFO at Eskom: success comes thr... Her proudest professional moment was the presentation of Eskom’s Annual Results announcement and the financial sustainability plan to key stakeholders, says Tsholefelo Molefe, Chief Financial Officer (CFO) at the public electricity utility. “Eskom is always in the spotlight and as it took a while to fill in the Finance Director permanently after my predecessor Paul O’Flaherty left, my very first challenge was to make sure that I pull the Finance team together to remain focused so that we could deliver a successful annual report, which continues to receive a string of awards on Excellence in integrated reporting. I am proud that our integrated report tells our story in a way that helps people understand what the company is about.” Andrew Hannington, CEO Grant Thornton: Making a mark after the merger “As an auditor you have the opportunity to get exposure to numerous companies and industries,” says Miles Fisher, partner at audit and advisory firm Mazars. Fisher is a Chartered Accountant (SA) with a real passion for auditing and says he is always ‘lecturing’ young talent not to leapfrog into the business environment too soon. “People often don’t realise the massive learning opportunities the position of auditor offers. Mazars and Berenschot launch consultancy JV African management consultancies beware: a formidable competitor has just launched. Last week saw the official kickoff of Mazars Berenschot South Africa, a Joint Venture between the well-respected audit and accountancy company Mazars and Dutch advisory firm Berenschot, often dubbed the Dutch answer to McKinsey. CFO South Africa visited the launch in the Houghton Golf Club in Johannesburg. Read more exclusive articles on cfo.co.za - Editorial: 12 networking tips for CFOs Interesting Keynotes at CFO Event Risk, Compliance & Control November 13 at the amazing Cape Town Club CFO South Africa invites you to join the last CFO Event of 2014 on Risk, Compliance & Control together with 100 other CFOs. How do you take the lead in letting your company achieve its goals in a way that is open, honest, ethical and principled. How can you contribute to build and implement systems designed to detect and prevent compliance breaches and how do you lead the development of a strong compliance culture. CFOs should consider embedding a thoughtful awareness of risk and compliance in their organization. Listen to best practices to help the company stay in control of the risks it chooses to take. Join this event free of charge with a Master Class, exclusive Round Tables and a list of very interesting speakers and attendees: - 16.45 Keynote by Ivan Meyer, Minister of Finance, Western Cape - 17.15: - Round Table Public Finance - Round Table Economic Development South Africa - Master Class Risk, Compliance & Control 18.45 Start of CFO Café 19.15 Keynote by Bob Head, Acting Chief Financial Officer, SARS Don’t miss out on this last CFO Event of 2014 from 4pm - 8pm and register now. Discuss with your peers issues on Risk, Compliance & Control. Partners CFO Event Risk, Compliance & Control: Continuous Professional Development Points Did you know all events of CFO South Africa are eligible for SAICA CPD points? By attending CFO South Africa's events and training courses you will stay compliant. Join the ultimate peer to peer advisory network Various CFOs and finance directors from Eskom, Nedbank, Transnet, SAB, Nike, Standard Charered Bank, Hollard, Absa, Business Connexion and Super Group are members of CFO South Africa. Your peers understand best the issues you face and the challenges that impact your business. Together you will share your experiences at CFO South Africa’s events and help you advance in your career, company and knowledge. Get introduced to experienced colleagues that are happy to share their knowledge with you. Peer-to-peer consulting is by far the best and most cost effective way to help you solve problems. Are you interested? Please see our membership page for more information here. Reach 5000 CFOs in the first CFO Magazine South Africa CFOs want to know your story Showcase your work and that of your company via CFO Magazine and demonstrate your added value to 15.000 CFOs, finance leaders and their direct reports as well as hundreds of international investors looking in how to move in to Africa. Get the undivided attention of the top financial decision makers and deliver the latest insights on improving the finance function. CFO Magazine: Knowledge and know-how for CFOs Read the latest insights from award winning CFOs: Simon Ridley, Standard Bank, Anoj Singh, Transnet, John King, EOH, Colin Brown, Super Group and Aarti Takoordeen, JSE and also featured interview with Nedbank's CEO Mike Brown. Covered topics: - Who are South Africa's leading CFOs? - How do successful CFOs move into Africa? - Why should you transform your finance function and how can you do it? - How do you attract and retain talent? - Who are the preferred advisors to South African CFOs? - How do you make the shift towards the digital world? You should not miss out. Put your company in the spot light, get your message across. Advertise or get interviewed for CFO Magazine. Interested? Contact Jurrien Morsch at [email protected] Upcoming CFO South Africa Events Join the CFO Events with inspiring hosts and experts who will share their insights and experiences with you. Register now for these events and boost your company, network, career and knowledge. CFO South Africa Events in 2014 Nov 13 Cape Town | Risk, Compliance & Control CFO South Africa Events in 2015 Feb 19 Cape Town | Moving into Africa Mar 19 Sandton | Get Smart in 2015 Apr 16 Sandton | Capital & Finance May 14 Sandton | CFO Awards 2015 Register now for one of the upcoming CFO South Africa Events. Please note that all our CFO South Africa events are for senior financial executives working in companies with revenues exceeding 100 million rand. CFO South Africa offers Platinum memberships to CFOs and finance directors. For more information please have a look here and contact Jurrien Morsch at [email protected] Stay connected with CFO South Africa Follow CFO South Africa on Twitter and LinkedIn Stay up to date on what is happening in the world of finance by following us on Twitter @CFOSouthAfrica and LinkedIn. Next to that you can keep track of newly published interviews with CFOs and CEOs. Feel free to contact us Any suggestions or comments are welcome. Kind Regards, Melle Eijckelhoff Director CFO South Africa | [email protected] To control which emails you receive from CFO South Africa, please change your email preferences at cfo.co.za by selecting under settings "I do not want to receive emails from CFO South Africa | Finance Professionals South Africa"

Newsletter | CFO MTN: Successfully playing devil's advocate | Fredericks CFO Telkom, Stewart moves to Tesco | CFO Event Risk, Compliance & Control

CFO South Africa Newsletter | Thursday October 2 Dear CFO South Africa Member, Read Exclusive CFO South Africa Articles CFO of the Week: MTN’s Brett Goschen, part 1: successfully playing ... After conquering Nigeria and Ghana for MTN in various CFO and CEO roles, Brett Goschen was ‘redeployed’ last year as Group CFO. Today we publish PART 1 of an exclusive interview with Goschen, in which he talks about the business support role of a CFO and the challenges a mobile telecommunications multinational faces. Also read Part 2 of his interview: Stick to ethical business in Africa. Miles Fisher, partner at Mazars: passion for audit “As an auditor you have the opportunity to get exposure to numerous companies and industries,” says Miles Fisher, partner at audit and advisory firm Mazars. Fisher is a Chartered Accountant (SA) with a real passion for auditing and says he is always ‘lecturing’ young talent not to leapfrog into the business environment too soon. “People often don’t realise the massive learning opportunities the position of auditor offers. Careers: Fredericks CFO Telkom, Stewart moves to Tesco Deon Fredericks was appointed as Chief Financial Officer of Telkom, the country's biggest fixed-line telephone group that is in the process of reinventing itself. Fredericks is not entirely new to the job. As Deputy CFO he had been acting in the position since October last year, when CFO Jacques Schindehütte was suspended. Fredericks is a big fan of CFO South Africa, as evidenced by his raving testimonial on our website. Read more exclusive articles on cfo.co.za - Microsoft seeks conversation with CFOs to “see magic happen Join CFO Event Risk, Compliance & Control November 13 at the amazing Cape Town Club CFO South Africa invites you to join the last CFO Event of 2014 on Risk, Compliance & Control together with 100 other CFOs. How do you take the lead in letting your company achieve its goals in a way that is open, honest, ethical and principled. How can you contribute to build and implement systems designed to detect and prevent compliance breaches and how do you lead the development of a strong compliance culture. CFOs should consider embedding a thoughtful awareness of risk and compliance in their organization. Listen to best practices to help the company stay in control of the risks it chooses to take. Join this event free of charge with several Master Classes, exclusive Round Tables and a list of very interesting speakers and attendees: - Bob Head, CFO of SARS - Ivan Meyer, Minister of Finance of the Western Cape - Alan Winde, Minister of Economic Opportunities of the Western Cape Don’t miss out on this last CFO Event of 2014 from 4pm - 8pm and register now. Discuss with your peers issues on Risk, Compliance & Control. Partners CFO Event Risk, Compliance & Control: Continuous Professional Development Points Did you know all events of CFO South Africa are eligible for SAICA CPD points? By attending CFO South Africa's events and training courses you will stay compliant. Join the ultimate peer to peer advisory network Various CFOs and finance directors from Eskom, Nedbank, Transnet, SAB, Nike, Standard Charered Bank, Hollard, Absa, Business Connexion and Super Group are members of CFO South Africa. Your peers understand best the issues you face and the challenges that impact your business. Together you will share your experiences at CFO South Africa’s events and help you advance in your career, company and knowledge. Get introduced to experienced colleagues that are happy to share their knowledge with you. Peer-to-peer consulting is by far the best and most cost effective way to help you solve problems. Are you interested? Please see our membership page for more information here. Reach 15.000 CFOs in the first CFO Magazine South Africa CFOs want to know your story Showcase your work and that of your company via CFO Magazine and demonstrate your added value to 15.000 CFOs, finance leaders and their direct reports as well as hundreds of international investors looking in how to move in to Africa. Get the undivided attention of the top financial decision makers and deliver the latest insights on improving the finance function. CFO Magazine: Knowledge and know-how for CFOs Read the latest insights from award winning CFOs: Simon Ridley, Standard Bank, Anoj Singh, Transnet, John King, EOH, Colin Brown, Super Group and Aarti Takoordeen, JSE and also featured interviews with Nedbank's CEO Mike Brown. Covered topics: - Who are South Africa's leading CFOs? - How do successful CFOs move into Africa? - Why should you transform your finance function and how can you do it? - How do you attract and retain talent? - Who are the preferred advisors to South African CFOs? - How do you make the shift towards the digital world? You should not miss out. Put your company in the spot light, get your message across. Advertise or get interviewed for CFO Magazine. Interested? Contact Jurrien Morsch at [email protected] Upcoming CFO South Africa Events Join the CFO Events with inspiring hosts and experts who will share their insights and experiences with you. Register now for these events and boost your company, network, career and knowledge. CFO South Africa Events in 2014 Nov 13 Cape Town | Risk, Compliance & Control CFO South Africa Events in 2015 Feb 19 Cape Town | Moving into Africa Mar 19 Sandton | Get Smart in 2015 Apr 16 Sandton | Capital & Finance May 14 Sandton | CFO Awards 2015 Register now for one of the upcoming CFO South Africa Events. Please note that all our CFO South Africa events are for senior financial executives working in companies with revenues exceeding 100 million rand. CFO South Africa offers Platinum memberships to CFOs and finance directors. For more information please have a look here and contact Jurrien Morsch at [email protected] Stay connected with CFO South Africa Follow CFO South Africa on Twitter and LinkedIn Stay up to date on what is happening in the world of finance by following us on Twitter @CFOSouthAfrica and LinkedIn. Next to that you can keep track of newly published interviews with CFOs and CEOs. Feel free to contact us Any suggestions or comments are welcome. Kind Regards, Melle Eijckelhoff Director CFO South Africa | [email protected] To control which emails you receive from CFO South Africa, please change your email preferences at cfo.co.za by selecting under settings "I do not want to receive emails from CFO South Africa | Finance Professionals South Africa"

Newsletter | Keynote Speaker Bob Head, CFO SARS | Department of Mineral Resources: CFO Clean Audit | Cloud lightens your balance sheet

CFO South Africa Newsletter | Thursday September 25 Dear CFO South Africa Member, Read Exclusive CFO South Africa Articles CFO of the Week: Rofhiwa Irene Singo: I am known as CFO Clean Audit Popularly referred to as “CFO Clean Audit”, Rofhiwa Irene Singo leads the Finance Department at the Department of Mineral Resources, and has a remarkable story of perseverance to tell. Irene, as she prefers to be called, has been instrumental in turning around the failing financial reporting at three public institutions and prides herself in having achieved these under very difficult conditions. “I always knew that I could do it, hard and smart working paid the price. The name CFO Clean Audit resonates well with me and I like it,” she says. Lesley Plaistowe, Partner at IBM: Cloud lightens your balance sheet "You don’t want your balance sheet weighed down by assets,” Lesley Plaistowe, Partner Financial Services at Technology firm IBM told the CFOs that attended our Digital Transformation event on 11 September in Johannesburg. During an inspiring presentation – Digital Transformation and New Business Models – Plaistowe chatted to the finance leaders about the enormous possibilities that the latest technological solutions have to offer. Also join our next CFO Event on Risk, Compliance & Control November 13 in Cape Town to enjoy more Master Classes from interesting speakers. Register here. Meet Chantelle Booysen-Fourie, community manager for CFO South Africa “People prefer to do business with people they like and trust,” says Chantelle Booysen-Fourie, CFO South Africa’s highly energetic Community Manager. “This has been my experience throughout my life and my career,” she reveals, explaining how well this thinking aligns with her new challenge of connecting CFOs and further growing CFO South Africa into a trusted place for finance leaders to meet, share and learn. Read more exclusive articles on cfo.co.za - Editorial: CFO South Africa!!! Thank you..."It is a great experience sitting and sharing notes with other CFOs" Join CFO Event Risk, Compliance & Control November 13 at the amazing Cape Town Club CFO South Africa invites you to join the last CFO Event of 2014 on Risk, Compliance & Control together with 100 other CFOs. How do you take the lead in letting your company achieve its goals in a way that is open, honest, ethical and principled. How can you contribute to build and implement systems designed to detect and prevent compliance breaches and how do you lead the development of a strong compliance culture. CFOs should consider embedding a thoughtful awareness of risk and compliance in their organization. Listen to best practices to help the company stay in control of the risks it chooses to take. Join this event free of charge with several Master Classes, exclusive Round Tables and a list of very interesting speakers and attendees: - Bob Head, CFO of SARS - Ivan Meyer, Minister of Finance of the Western Cape - Alan Winde, Minister of Economic Opportunities of the Western Cape Don’t miss out on this last CFO Event of 2014 from 4pm - 8pm and register now. Discuss with your peers issues on Risk, Compliance & Control. Partners CFO Event Risk, Compliance & Control: Continuous Professional Development Points Did you know all events of CFO South Africa are eligible for SAICA CPD points? By attending CFO South Africa's events and training courses you will stay compliant. Join the ultimate peer to peer advisory network Various CFOs and finance directors from Eskom, Nedbank, Transnet, SAB, Nike, Standard Charered Bank, Hollard, Absa, Business Connexion and Super Group are members of CFO South Africa. Your peers understand best the issues you face and the challenges that impact your business. Together you will share your experiences at CFO South Africa’s events and help you advance in your career, company and knowledge. Get introduced to experienced colleagues that are happy to share their knowledge with you. Peer-to-peer consulting is by far the best and most cost effective way to help you solve problems. Are you interested? Please see our membership page for more information here. Become a Partner of CFO South Africa Meet top CFOs, claim thought leadership, create value and develop business. Accenture, Cliffe Dekker Hofmeyr, Oracle, IBM, InnoVent, ACCA, SNG, Readsoft, CQS, IQ Business and Transparent have supported CFO South Africa. Just like us, they believe we can contribute to the growth of their business and network in South Africa. As a partner of CFO South Africa you find yourself in a network in which you can contribute to sharing knowledge, seizing opportunities and growing your business. Are you interested in becoming a partner? Please contact [email protected] Partners CFO South Africa: Upcoming CFO South Africa Events Join the CFO Events with inspiring hosts and experts who will share their insights and experiences with you. Register now for these events and boost your company, network, career and knowledge. CFO South Africa Events in 2014 Nov 13 Cape Town | Risk, Compliance & Control CFO South Africa Events in 2015 Feb 19 Cape Town | Moving into Africa Mar 19 Sandton | Get Smart in 2015 Apr 16 Sandton | Capital & Finance May 14 Sandton | CFO Awards 2015 Register now for one of the upcoming CFO South Africa Events. Please note that all our CFO South Africa events are for senior financial executives working in companies with revenues exceeding 100 million rand. CFO South Africa offers Platinum memberships to CFOs and finance directors. For more information please have a look here and contact Jurrien Morsch at [email protected] Stay connected with CFO South Africa Follow CFO South Africa on Twitter and LinkedIn Stay up to date on what is happening in the world of finance by following us on Twitter @CFOSouthAfrica and LinkedIn. Next to that you can keep track of newly published interviews with CFOs and CEOs. Feel free to contact us Any suggestions or comments are welcome. Kind Regards, Melle Eijckelhoff Director CFO South Africa | [email protected] To control which emails you receive from CFO South Africa, please change your email preferences at cfo.co.za by selecting under settings "I do not want to receive emails from CFO South Africa | Finance Professionals South Africa"

CFO of the Week: Rofhiwa Irene Singo: I am known as CFO Clean Audit

Popularly referred to as “CFO Clean Audit”, Rofhiwa Irene Singo leads the Finance Department at the Department of Mineral Resources, and has a remarkable story of perseverance to tell. Irene, as she prefers to be called, has been instrumental in turning around the failing financial reporting at three public institutions and prides herself in having achieved these under very difficult conditions. “I always knew that I could do it, hard and smart working paid the price. The name CFO Clean Audit resonates well with me and I like it,” she says.

Newsletter | Seek conversation with CFOs to see magic happen | New CFO Datatec: I strive to be multidimensional | Fascinating insights CFO Event Digital Transformation

CFO South Africa Newsletter | Thursday September 18 Dear CFO South Africa Member, Read Exclusive CFO South Africa Articles CFO of the Week: Jurgens Myburgh, new CFO at Datatec: “I strive to ... “I strive to be a multidimensional CFO,” says Jurgens Myburgh, who recently swapped an impressive career in Corporate Finance at Standard Bank for a role as CFO at information technology group Datatec. In anticipation of learning from more experienced peers, Myburgh has joined CFO South Africa as a platinum member. “It will be great to network with like-minded people, bounce ideas off experienced individuals, gather intelligence on best practice and stay up to date. You can’t afford to operate in a silo.” Jurgens is a Platinum Member of CFO South Africa, also interested in becoming a member? Check out our membership opportunities. Fascinating insights at CFO Event on Digital Transformation Digital transformation… For some CFOs and FDs the term equals headaches, internal resistance or pricey solutions. But other Chief Financial Officers have found out that the better use of modern IT solutions has equipped them to fulfil their role as true partner to the CEO. During a successful and well-attended event in the Tintswalo at Waterfall hotel in Johannesburg on Thursday 11 September, finance leaders had the opportunity to chat about the topic with peers and learn from market leaders. Also Join our next CFO Event on Risk, Compliance & Control November 13 in Cape Town Register here. Microsoft seeks conversation with CFOs to “see magic happen” "As a technology company, we don’t have enough conversations with the CFO,” confessed Rory Headon-Weeks. During CFO South Africa’s successful Digital Transformation event on Thursday 11 September, the Chief Technology Officer (CTO) of Microsoft South Africa gave the CFOs present some fascinating insights in the ways of the future. And he invited finance leaders to visit the Microsoft Technology Centre in Johannesburg and “see magic happen”. Read more exclusive articles on cfo.co.za - CFO South Africa meeting needs of private AND public CFOs: "This is the only independent platform that enables finance leaders... Join the last CFO Event of 2014 November 13 at the amazing Cape Town Club CFO South Africa invites you to join the last CFO Event of 2014 on Risk, Compliance & Control together with 100 other CFOs. How do you take the lead in letting your company achieve its goals in a way that is open, honest, ethical and principled. How can you contribute to build and implement systems designed to detect and prevent compliance breaches and how do you lead the development of a strong compliance culture. CFOs should consider embedding a thoughtful awareness of risk and compliance in their organization. Listen to best practices to help the company stay in control of the risks it chooses to take. Join this event free of charge with several Master Classes, exclusive Round Tables and a list of very interesting speakers and attendees: - Bob Head, CFO of SARS - Ivan Meyer, Minister of Finance of the Western Cape - Alan Winde, Minister of Economic Opportunities Don’t miss out on this last CFO Event of 2014 from 4pm - 8pm and register now. Discuss with your peers issues on Risk, Compliance & Control. Partners CFO Event Risk, Compliance & Control: Continuous Professional Development Points Did you know all events of CFO South Africa are eligible for SAICA CPD points? By attending CFO South Africa's events and training courses you will stay compliant. Join the ultimate peer to peer advisory network Various CFOs and finance directors from Eskom, Nedbank, Transnet, SAB, Nike, Standard Charered Bank, Hollard, Absa, Business Connexion and Super Group are members of CFO South Africa. Your peers understand best the issues you face and the challenges that impact your business. Together you will share your experiences at CFO South Africa’s events and help you advance in your career, company and knowledge. Get introduced to experienced colleagues that are happy to share their knowledge with you. Peer-to-peer consulting is by far the best and most cost effective way to help you solve problems. Are you interested? Please see our membership page for more information here. Become a Partner of CFO South Africa Meet top CFOs, claim thought leadership, create value and develop business. Accenture, Cliffe Dekker Hofmeyr, Oracle, IBM, InnoVent, ACCA, SNG, Readsoft, CQS, IQ Business and Transparent have supported CFO South Africa. Just like us, they believe we can contribute to the growth of their business and network in South Africa. As a partner of CFO South Africa you find yourself in a network in which you can contribute to sharing knowledge, seizing opportunities and growing your business. Are you interested in becoming a partner? Please contact [email protected] Partners CFO South Africa: Upcoming CFO South Africa Events Join the CFO Events with inspiring hosts and experts who will share their insights and experiences with you. Register now for these events and improve your company, network, career and knowledge. CFO South Africa Events in 2014 Nov 13 Cape Town | Risk, Compliance & Control CFO South Africa Events in 2015 Feb 19 Cape Town | Moving into Africa Mar 19 Sandton | Get Smart in 2015 Apr 16 Sandton | Capital & Finance May 14 Sandton | CFO Awards 2015 Register now for one of the upcoming CFO South Africa Events. Please note that all our CFO South Africa events are for senior financial executives working in companies with revenues exceeding 100 million rand. CFO South Africa offers Platinum memberships to CFOs and finance directors. For more information please have a look here and contact Jurrien Morsch at [email protected] Stay connected with CFO South Africa Follow CFO South Africa on Twitter and LinkedIn Stay up to date on what is happening in the world of finance by following us on Twitter @CFOSouthAfrica and LinkedIn. Next to that you can keep track of newly published interviews with CFOs and CEOs. Feel free to contact us Any suggestions or comments are welcome. Kind Regards, Melle Eijckelhoff Director CFO South Africa | [email protected] To control which emails you receive from CFO South Africa, please change your email preferences at cfo.co.za by selecting under settings "I do not want to receive emails from CFO South Africa | Finance Professionals South Africa"

Inspiring meetings with CFOs of Eskom and Minerals department

It is widely agreed upon that what South Africa needs is inspiring leaders, most of all in the public sector and at parastatals. That this country is not short of the individuals who have been cut from the right cloth, became once again apparent during our recent meetings with Rofhiwa Irene Singo and Tsholofelo Molefe. These two impressive ladies have made the Chief Financial Officer role their own at the Department of Mineral Resources and at public electricity utility Eskom and both contribute to a better South Africa to the best of their capabilities.