Ethics

March 3, 2022
AML: how money launderers use virtual assets

AML: how money launderers use virtual assets

In the seventh instalment of Anti-Money Laundering: The Basics, IFAC and ICAEW look at the risks associated with virtual assets.
March 1, 2022

AML: how money launderers use virtual assets

In the seventh instalment of Anti-Money Laundering: The Basics, IFAC and ICAEW look at the risks associated with virtual assets. Cryptocurrencies and other virtual assets offer a lot of opportunities for legitimate businesses, but it’s also potentially useful for money launderers.
January 4, 2022

‘Ethical leadership is vital as technology advances’ says accountancy bodies and IESBA

ICAS, CPA Canada, IESBA and IFAC release second publication in series exploring ethics in an era of complexity and digital change: 'Technology is a double-edged sword with both opportunities and challenges for the accountancy profession' As technology advances and the world becomes more complex, the professional accountant’s skills and competencies, underpinned by ethics and recognising their public interest responsibility, are critical in navigating new challenges and opportunities and ensuring trust in the profession.
November 16, 2021
Building Trust

From Chartered Accountants to change agents

Chartered Accountants now have a mandate to become agents of change in their organisations and in society at large: that was one of the clear conclusions from the ‘Rebuilding Trust’ webinar hosted by Chartered Accountants Worldwide, held to mark the launch of research into financial decision makers’ opinions of the profession.
September 16, 2021

Principles versus rules in professional ethics

By adopting a principles-based code, SAICA requires all its members to apply professional judgement at all times to identify, evaluate and address threats to professional accountants’ compliance with the fundamental principles of ethics. These principles determine the standard of behaviour that the public can expect of members of the profession, and adhering to the code would restore public trust in the profession
September 15, 2021

The auditing profession – Where to next?

Our views in this article are to large extent based on our involvement in high-profile cases involving the prosecution of professional misconduct allegations levelled against auditors Several auditing and accounting scandals in recent years − most notably in relation to African Bank, Steinhoff and Tongaat Hulett − undoubtedly had a […]
August 11, 2021
corporate failure

Corporate failures… Why don’t we learn?

The world of accounting is rapidly changing as South Africa scrambles to regain its status as one of the world’s leaders in terms of corporate reporting. But the profession has been marred by enormous scandals over the past few years, causing mistrust amongst society for a profession that used to be characterised by integrity
April 7, 2021

Auditing Profession in Peril

If the audit profession in South Africa is serious about restoring trust it will need to reassert the primacy of professional scepticism and independence. There needs to be a balance between radical thinking and practical solutions. Greater clarity and transparency in the profession will ultimately result in a regime that allows auditors to better assess, assure and inform. Only then can real change come about.
March 27, 2021
fraud

The financial controller who stole £20,000 from her company

The risk of fraud committed by staff and contractors within organisations is on the rise. Much of the work carried out by chartered accountants can help prevent internal fraud from happening in their organisations.
February 4, 2021
dew-drop

Audit must evolve to remain relevant and trusted

Audit has endured a battering of late, but now is the time for us all to work together to rebuild trust in the profession, says ICAS Deputy President Bruce Pritchard CA. Although my days as an auditor are behind me, I still care deeply about the profession. My views on what needs to change in this area may now come from the perspective of the CEO of a US-listed biotech firm and NED, but auditors need to understand public perceptions about their trade.