New Companies Act eases audit burden for SMMEs

Private companies that are owner-managed no longer need to be audited, says the co-author of a book on the new Companies Act.   “The purpose of an audit is to protect the interests of shareholders,” says Professor Geoff Everingham of UCT, co-author with Bowman Gilfillan corporate lawyer Carl Stein of The New Companies Act Unlocked. […]

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Dispelling common myths associated with a career in financial advice

Gone are the days when becoming a financial advisor was something to do in your gap year to earn a few quick commission bucks while figuring out what you want to do with the rest of your life. Today the financial advisory profession is a fully regulated one that, in an increasingly unstable economy with […]

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Uncertainty in markets is nothing new

By David Green, Chief Investment Officer at PPS Investments   A rising concern among South African investors is the growing tension between the members of the Eurozone, many of whom are major trading partners. The indebtedness of Greece, Ireland, Spain, Portugal and Italy – and their attendant solvency and liquidity problems – have highlighted the […]

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Review of South Africa’s medical schemes’ performance in 2010

Initial analysis of how well South Africa’s medical schemes are performing in the restricted and open medical scheme environment indicates that the industry has made some recovery compared to the previous year despite ongoing pressure to improve financial performance.   This is “likely to see continued consolidation of medical schemes with a further reduction in […]

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Can you afford not to have short-term insurance?

Life is full of uncertainties, for which we attempt to prepare. One often hears of cars getting stolen, hijacked, damaged or homes being burgled, flooded, or even burnt down. While you hope it never happens to you, there is always the nagging feeling that something may go wrong. “A short-term insurance policy allows you to […]

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A flagging economy

By Tendani Mantshimuli, consumer economist, Liberty Life  Our economy is far weaker than expected as we are dragged down by global economic turmoil. Exports are limited and consumer spending remains subdued. Interest rates will remain on hold for longer.   The upheaval in the global markets has revived talk of a double-dip recession as the […]

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Judgement in favour of taxpayer

  By Tim Desmond, Garlicke & Bousfield Inc.   The South Gauteng High Court recently gave judgement in an appeal from the Tax Court. The matter related to the deductibility of audit fees incurred by an intermediary holding company in the MTN group. The case related to the taxpayer’s 2001 to 2004 years of assessment. […]

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SA’s largest multi-manager goes retail

Investment Solutions, SA’s largest multi-manager with over R175 billion in assets under management, recently launched a broad range of unit trusts to the retail market. The products range from the conservative Investment Solutions Superior Cash fund to the balanced Investment Solutions Multi-Managed Balanced Fund of Funds and the aggressive, Investment Solutions Multi-Managed Equity Fund of […]

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Future is positive for IFAs

Independent financial advisors have a positive future and, together with Masthead, can deal with the challenges facing our industry and the IFA, said Ian Middleton, managing director of Masthead.   Addressing IFAs and their support staff at the organisation’s popular annual event for members, the Professional Development Days, Middleton sought to extinguish IFA doubt about […]

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Review of Discovery’s 2012 health product changes

Discovery Health recently announced a headline increase of 8,9% across the board with minimal changes to their product offering, although a small proportion of members with special adult dependants will experience increases that are significantly higher than the average. Overall there have been minimal changes to Discovery’s product for 2012 except that “members with special […]

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