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  • Chartered Accountant | CORP
    December 31 One of the provisions of the section 90 2 of the act is that the prohibition is retrospective for five years which means that when the act became effective on May 1 2011 audit firms were already not compliant with as they would have had to stop providing audit and non audit services from May 1 2006 Section 90 2 of the Companies Act refers specifically to accounting bookkeeping or services relating to secretarial work and not to all non audit services Clearly from a practical perspective auditors were not aware that this was going to be made a requirement of the Companies Act Mr Agulhas said at the IRBA annual information session in Pretoria Several extensions were granted since then with final deadline on December 31 2018 which means that if the five year retrospective provision is applied the prohibition is effective from January 1 2014 Mr Agulhas said IRBA and the South African Institute for Chartered Accountants Saica had engaged with CIPC to have the section amended but had so far been unsuccessful He said there would be a transitional period for companies with ongoing contracts to make a decision on which service they would offer My personal view is that it the section will probably not change because CIPC has given us the background why they have written the section and the intention was that it should be applicable to the audit firm and not the auditor He said IRBA and Saica would continue with their efforts to have the section changed but audit firms would in the meantime have to ensure that they were compliant with the act as it stood now via Audit firms need to rethink their business models Financial Services BDlive Posted in audit firms government Tagged Accounting AUDIT Business Chartered

    Original URL path: http://soleproprietor.corp.co.za/tag/chartered-accountant/ (2015-12-05)
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  • Companies Act | CORP
    audit services Clearly from a practical perspective auditors were not aware that this was going to be made a requirement of the Companies Act Mr Agulhas said at the IRBA annual information session in Pretoria Several extensions were granted since then with final deadline on December 31 2018 which means that if the five year retrospective provision is applied the prohibition is effective from January 1 2014 Mr Agulhas said IRBA and the South African Institute for Chartered Accountants Saica had engaged with CIPC to have the section amended but had so far been unsuccessful He said there would be a transitional period for companies with ongoing contracts to make a decision on which service they would offer My personal view is that it the section will probably not change because CIPC has given us the background why they have written the section and the intention was that it should be applicable to the audit firm and not the auditor He said IRBA and Saica would continue with their efforts to have the section changed but audit firms would in the meantime have to ensure that they were compliant with the act as it stood now via Audit firms need to rethink their business models Financial Services BDlive Posted in audit firms government Tagged Accounting AUDIT Business Chartered Accountant Companies Act Financial audit Financial services Pretoria New Companies Act supports honest directors Posted on 4 September 2011 by admin Reply COMPANY directors who act honestly and reasonably while performing their duties under new company laws could have a valid defence if they face possible legal and criminal action says a legal expert at Werksmans Attorneys Eric Levenstein a director at Werksmans said last week that directors who met their obligations and were able to show that they had discharged their obligations would be able to defend themselves by showing they acted on the company s behalf in a reasonable way Personal liability is becoming an increasingly emotive issue for directors They need to be aware of the circumstances in which they can be held responsible for company debts Mr Levenstein said The new Companies Act which came into effect on May 1 penalises directors and holds them personally responsible for any losses incurred through knowingly carrying on business recklessly or with the intent to defraud creditors and other stakeholders It also created criminal liability for directors trading in a manner calculated to defraud creditors Mr Levenstein said However a director who meets his obligations under the new legislation would be seen as discharging his duties to the company George Tweedy audit risk leader and national professional practice director at Deloitte said the new laws also contained defence mechanisms for directors who had made bad decisions at board level Mr Tweedy said the new business judgment rule would give directors more protection from civil actions unless they were guilty of fraud or other unlawful activities The Companies Act provides that a director will have satisfied his duties if he took reasonably

    Original URL path: http://soleproprietor.corp.co.za/tag/companies-act/ (2015-12-05)
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  • Financial audit | CORP
    December 31 One of the provisions of the section 90 2 of the act is that the prohibition is retrospective for five years which means that when the act became effective on May 1 2011 audit firms were already not compliant with as they would have had to stop providing audit and non audit services from May 1 2006 Section 90 2 of the Companies Act refers specifically to accounting bookkeeping or services relating to secretarial work and not to all non audit services Clearly from a practical perspective auditors were not aware that this was going to be made a requirement of the Companies Act Mr Agulhas said at the IRBA annual information session in Pretoria Several extensions were granted since then with final deadline on December 31 2018 which means that if the five year retrospective provision is applied the prohibition is effective from January 1 2014 Mr Agulhas said IRBA and the South African Institute for Chartered Accountants Saica had engaged with CIPC to have the section amended but had so far been unsuccessful He said there would be a transitional period for companies with ongoing contracts to make a decision on which service they would offer My personal view is that it the section will probably not change because CIPC has given us the background why they have written the section and the intention was that it should be applicable to the audit firm and not the auditor He said IRBA and Saica would continue with their efforts to have the section changed but audit firms would in the meantime have to ensure that they were compliant with the act as it stood now via Audit firms need to rethink their business models Financial Services BDlive Posted in audit firms government Tagged Accounting AUDIT Business Chartered

    Original URL path: http://soleproprietor.corp.co.za/tag/financial-audit/ (2015-12-05)
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  • Financial services | CORP
    granted since then with final deadline on December 31 2018 which means that if the five year retrospective provision is applied the prohibition is effective from January 1 2014 Mr Agulhas said IRBA and the South African Institute for Chartered Accountants Saica had engaged with CIPC to have the section amended but had so far been unsuccessful He said there would be a transitional period for companies with ongoing contracts to make a decision on which service they would offer My personal view is that it the section will probably not change because CIPC has given us the background why they have written the section and the intention was that it should be applicable to the audit firm and not the auditor He said IRBA and Saica would continue with their efforts to have the section changed but audit firms would in the meantime have to ensure that they were compliant with the act as it stood now via Audit firms need to rethink their business models Financial Services BDlive Posted in audit firms government Tagged Accounting AUDIT Business Chartered Accountant Companies Act Financial audit Financial services Pretoria 8 Ways Bootstrapping Makes You A Better Entrepreneur Posted on 7 February 2013 by admin Reply One of the earliest and most critical decisions an entrepreneur must make is whether to self fund a startup by bootstrapping or raise outside funding through venture capital The implications of each decision are significant How you fund your company will help determine its chances of success its scale its long term prospects and ultimately your relationship with your company As an entrepreneur who has invested significantly in my own company I believe that bootstrapping is the best option It s never easy and it s not always glamorous but bootstrapping will force you to become a better stronger entrepreneur with a more vibrant business via 8 Ways Bootstrapping Makes You A Better Entrepreneur Forbes Related articles Bootstrapped Entrepreneurs Upbeat About Business Growth Hiring Despite Economic Uncertainty The Guide Five Free Must Have Tools for the Bootstrapping Entrepreneur Tips from Fadi Ghandour on Bootstrapping MixnMentor Dubai Panel Part 8 Wamda TV Don t bootstrap yourself to death How One Startup Grew a 100M Business Without Spending Venture Capital HasOffers doubles sales plans to continue bootstrapping ways Venture Capital A Few Things to Remember 6 Crucial Lessons From The Rise Of THE Startup Nation Part 1 Posted in Entrepreneur Tagged Bootstrapping Business company Entrepreneur Entrepreneurship Financial services Forbes venture capital Leave a reply How to cover your small business Posted on 19 November 2011 by admin Reply Glass damage to shop fronts and sign writing at your premises could be costly to repair Accidental damage to the glass would be covered Fidelity guarantee this is where the business insures itself against losses as a result of employee fraud Accounts receivable a business can insure possible losses if for example the business is destroyed in a fire no records of accounts have remained and the business is unable

    Original URL path: http://soleproprietor.corp.co.za/tag/financial-services/ (2015-12-05)
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  • Pretoria | CORP
    Subcontractor Agreement Posted on 5 October 2011 by admin Reply Subcontractor Agreement as prescribed by The South African Labour Guide Pretoria South Africa Website http www labourguide co za Entered into between James John Jones hereinafter referred to as the Contractor residing at 2048 Situni Street STRAND 7140 and Tikopo CC hereinafter referred to as the Principal with main place of business situated at 2 New Building Matrix Street DURBANVILLE 7430 Now therefore the parties agree as follows 1 The Contractor shall provide the Principal with the necessary skills knowledge and work which is needed by the Principal in order to effectively run its administration 2 This agreement shall be effective from 30 01 2010 to 30 07 2010 at which date the agreement shall terminate due to task completion 3 At no stage shall the Contractor demand or have any expectation to have this contract renewed or another agreement entered into subsequent to the termination of this agreement as envisaged in clause 2 above 4 The Contractor shall receive in full payment an amount of R20 00 per hour worked pro rata for part hours on a monthly basis The Contractor shall be expected to invoice the Principal for the agreed amount and payment shall be made within 7 days of receipt of such invoice made available to the Principal at the Principal s main place of business 5 The duties that the Contractor shall be required to perform are as follows and can be adjusted extended from time to time in the Principal s sole discretion cleaning offices premises buying maintaining stock waiting washing handyman activities painting glazing etc gardening admin work reception duties tax forms other statutory work messenging banking payment of accounts calling at the post office and other errands business advice where required to make every effort to work harmoniously and in cooperation with other workers subcontractors of the Principal to work for the Principal or any other associated business 6 The Contractor shall be liable to pay tax to the Receiver of Revenue and indemnifies the Principal from all liability for not deducting any personal tax PAYE or SITE that the Principal is legally not required to do in terms of this agreement due to the non existence of any employment relationship whatsoever Notwithstanding this indemnity the Principal may elect in its sole discretion to deduct and pay over any said taxes 7 The Contractor shall not be entitled to any leave sick leave or any other benefits normally provided to an employee The Contractor works for the Principal at the sole risk of the Contractor at places designated by the Principal from time to time in the Principal s sole discretion The Principal shall not be responsible for and the Contractor shall be responsible for any damage risk or liability applicable to the Contractor or to any other party which may arise in connection with such work 8 The Contractor shall not be bound to work the normal fixed working hours but shall

    Original URL path: http://soleproprietor.corp.co.za/tag/pretoria/ (2015-12-05)
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  • Sole Proprietor – Quick reference | CORP
    the basis of a sole proprietorship Related articles The Pros and Cons of Sole Proprietorship theboringdetails com How Should You Pay Yourself Advice for Small Business Owners business2community com Corporate Culture for One How Sole Proprietors Can Boost Their Creativity and Productivity smallbiztechnology com Running a Business as a Sole Proprietor kimberlygeter wordpress com This entry was posted in Small Business SMME sole proprietor start a business and tagged Business

    Original URL path: http://soleproprietor.corp.co.za/sole-proprietor-2/ (2015-12-05)
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  • Small Business/SMME | CORP
    You approve everything as we proceed It s easy No more running to your accountants No more frustration No more unanswered calls Everything nice and neatly in one place Send us a message for more information or apply to join us Posted in Small Business SMME Tagged Accountant Financial statement Proprietary company South Africa Tax Tax efficiency Leave a reply Products and services Posted on 17 January 2013 by admin Reply See our new Products and services page Posted in Small Business SMME Leave a reply Changing from CC to Pty Ltd Posted on 29 November 2012 by admin Reply You probably know that under the new Companies Act 2008 CC s Close Corporations can no longer be registered in South Africa This does not affect the about 1 500 000 CC s already registered in South Africa far more than Pty Ltd companies If you already have a CC you may keep it retain your assets property in it and run your business through it You may change its name members accounting officer and other details or you may sell the CC to someone else or convert it into a Pty Ltd company The way we see it there should be no mad rush to change your CC into a Pty Ltd company unless You prefer your business to look like a Pty Ltd company and not a CC You prefer the legislation for the new Pty as against the old CC legislation which incidentally has been somewhat revamped You are tired of putting the owners of the CC under Members on your letterhead You d prefer to list the Directors on the letterhead and not the owners shareholders of the company which include parties people companies or trusts who are not directors For more email us on convertcc

    Original URL path: http://soleproprietor.corp.co.za/category/small-businesssmme/ (2015-12-05)
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  • start a business | CORP
    Entrepreneur Internal Revenue Service Sole proprietorship Tax United States Leave a reply Start a business today Posted on 12 August 2013 by admin Reply Clearly South Africa needs more small businesses This means more entrepreneurs At present only about 7 of the adult population is involved in a start up business and a meagre 2 is running an established business Increasing the number of small businesses is only a start South Africa needs successful businesses Small businesses viability depends on how they can leverage commercial challenges and opportunities This implies being able to operate in an environment where the distinction between national and international markets is blurring and where competitive advantages are premised on innovation via Charting a new path for small business prosperity Opinion Analysis BDlive Start here corp co za services Related articles The Small Business Start Up Trifecta Series hiscoxusa com Exercise Your Independence Start a Small Business staples com Collaboration How Successful Small Business Owners Thrive business2community com Business Ideas in South Africa workyourwealthnetwork wordpress com Small Business Stories armadilloadvertising wordpress com 5 Key Benefits of SEO for your Small Business hireawizllc wordpress com Posted in start a business Tagged Africa Business Business and Economy Business plan Entrepreneur Small business South Africa The Accidental Entrepreneur The 50 Things I Wish Someone Had Told Me About Starting a Business Leave a reply Search Recent Posts Sole proprietorship background Government continues to disrupt business Sole Proprietor Quick reference Start a business today 7 Small Business Ideas For 2013 Recent Comments CORP Admin on Company Registration Shelf Company Business Registration Office on Trading as Archives September 2013 August 2013 July 2013 April 2013 March 2013 February 2013 January 2013 December 2012 November 2012 October 2012 September 2012 August 2012 June 2012 May 2012 April 2012 March 2012 January 2012

    Original URL path: http://soleproprietor.corp.co.za/category/start-a-business/ (2015-12-05)
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