Helping employees spot fraud

It is important for every employee in every organisation to learn the telltale signs of fraud.       “Getting unsuspecting employees to carry out illegal tasks as part of their daily routine is the aim and hallmark of truly successful fraud networks” says Gerhard Labuschagne, Forensic Auditor, Alexander Forbes Financial Services (Pty) Ltd.   […]

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Natural disasters show up flaws in corporate risk management

On 21 February 2011 an earthquake measuring 6.3 on the Richter scale tore through Christchurch, New Zealand. The second quake in six months claimed 148 lives and left the city with an estimated US$15 billion repair bill. Businesses have suffered too. The earthquake is the latest in a series of high-impact natural disasters playing out […]

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Budget gems overlooked

Few seem to have digested the many positive new proposals contained in the 2011 National Budget, Muneer Hassan, project director of tax at the South African Institute of Chartered Accountants (SAICA) said in Johannesburg yesterday (2 March 2011).   He said SAICA was particularly impressed with some positive new tax legislation proposals.   “Indeed, the […]

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Kagiso PMI stabilises on a high level

    “The seasonally adjusted Kagiso PMI stabilized at a reasonably high level in February, reaching 54.8 index points,” says Theo Vorster, specialist consultant at Kagiso Trust Investments.   “The most heartening trend in the latest numbers is that the PMI employment index rose back above the key 50 mark to 51.6, indicating that the […]

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Austerity has the world up in arms

By Andrea Muller   The year 2011 will be the year we see a significant worldwide increase in street rioting. This observation comes from Jeremy Gardiner, director, Investec Asset Management who was speaking at the quarterly media briefing about global prospects for the coming year. “If 2010 was a year characterised by confusion, this year […]

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Altrisk donates to CARe’s patient HIV/Aids support programme

Altrisk has donated R86 800 to Community AIDS Response (CARe), a non-profit organisation that started as a concerned community of volunteers responding to the needs of people living with and impacted by HIV/AIDS.   CARe provides holistic care and support for people living with HIV and AIDS, their families and the people who offer this […]

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Birth of a new tax professional says PwC

The Annual National Budget Speech is one of the most anticipated events in every tax professional’s diary, as they keep abreast of potential tax proposals, legislative changes and compliance developments. But with the business and economic landscape changes in the global community the actions for tax are growing beyond the requirements of the Income Tax […]

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End of SITE takes away tax benefits for pensioners

The discontinuation of the Standard Income Tax on Employees (SITE) being phased out over two years from 1 March 2011 will remove existing tax advantages for pensioners earning R60,000 or less per annum.   This is according to Ron Warren, tax expert and chairman of payroll software company NuQ, who says that SITE tax, which […]

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Budget analysis from RMB Private Bank

As was widely expected, the Budget mainly focused on job creation, echoing the comments in the recent Presidents speech. The main highlights effecting private individuals are:   • The introduction of a third income tax rebate of R2 000 for individuals 75 years and older, resulting in a taxable income threshold of R104 261 for […]

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Budget Analysis – and what to gamble on

GAMBLING   Go big now, and go home on 1 April 2012       1 April 2012 is the date on which the new withholding tax on winnings from gambling comes into effect. From that date, be sure to limit your winnings to less than R25 000, if you don’t want SARS to run […]

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