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1-10 results from 272 for query «auditors»

07 November 2018 10:40 AM Discovery Vitality made a massive R603 million profit last year – as members fail to use their perks

In its last full financial year Discovery Vitality’s profits increased by nearly 13 times to R603 million, its financial statements show. It credits people who failed to use their perks for part of that profit. Its healthy bottom line was also bolstered by a R491 million profit from Vitality’s sale of a joint interest in DiscoveryCard, as the group reorganised 79

21 October 2018 10:38 AM Gungubele: Rescuing VBS would send message that 'criminals can steal' and state will bail out

Deputy Finance Minister Mondli Gungubele has cautioned against a bailout of VBS Mutual Bank, saying rescuing the bank would send a message that “criminals can steal” and the state would pay, according to a Sunday Times report. Some MPs in the African National Congress (ANC) caucus have argued that government must step in to save the beleaguered bank, just as it did with African 43

12 October 2018 9:33 AM Saica to take action against accountants implicated in VBS Bank 'heist'

The South African Institute of Charted Accountants (Saica) announced on Thursday night it would initiate disciplinary action against eight of its members, implicated in the 'Great Bank Heist' of VBS Mutual Bank, including former CEO Andile Ramavhunga and former holding company Vele Investments chairperson Tshifhiwa Matodzi. The other five people who face investigation 56

19 June 2018 3:13 PM Sasfin drops KPMG and Grant Thornton Joburg as auditors

Sasfin announced on Tuesday that it had appointed PricewaterhouseCoopers as its auditor with "immediate effect". PwC will take over from the group’s current joint auditors Grant Thornton Johannesburg and KPMG. In a notice to shareholders, Sasfin said the change was being made to "ensure the ongoing independence of the group’s auditors". It did not provide 64

18 June 2018 10:23 AM Unconventional accounting at Gupta-owned VR Laser

Gupta-owned VR Laser has been running on borrowed money for years and employing unconventional accounting to downplay losses. Financial statements for the financial year ending February 2017 are so dominated by this practice that the company’s auditors, SizweNtsalubaGobodo, refuse to give an opinion on them. The statements are signed by VR Laser director 42

31 May 2018 10:23 AM Exodus continues as Finbond dumps KPMG

Finbond has become the latest SA company to part ways with auditor KPMG SA. In a shareholder announcement on Thursday, the mutual bank [JSE:FGL] said its board of directors had resolved that it could “no longer justify nor support Finbond’s further association with KPMG”. “[The board], through the audit, risk and social and ethics committees, have investigated 36

23 May 2018 3:07 PM Steinhoff Africa Retail parts ways with auditor Deloitte

Cape Town - Steinhoff Africa Retail [JSE:SRR] is parting ways with auditor Deloitte. In a media statement on Wednesday afternoon, STAR said that that PricewaterhouseCoopers (PWC) had been appointed as the company's external auditor with effect from May 23. STAR, previously known as Pepkor, is a separate company from Steinhoff International Holdings 45

07 May 2018 4:18 AM KPMG acknowledges failings at the firm have damaged auditing profession

Johannesburg - KPMG has welcomed the Independent Regulatory Board for Auditors (IRBA) plan to review its turnaround strategy, saying they “acknowledge that failings at the firm have contributed to adverse perceptions about the audit profession”. “The controversy around the industry has undermined public confidence and this needs to be restored through 55

04 May 2018 12:27 PM KPMG bleeds another client

Cape Town – Redefine Properties [JSE:RDF] has joined a growing list of companies and institutions to cut its business with auditing firm KPMG short. The diversified real estate investment trust (REIT) announced on Friday that it would renege on its annual general meeting proposal to re-appoint KPMG as its independent external auditor. Redefine CEO Andrew 63

15 March 2018 7:14 AM Tourist vs migrant: EU tourist visa price increase while limiting visas for countries that won't take back deportees

Brussels - The European Union moved on Wednesday to speed up the return of unauthorised migrants, announcing plans to punish countries that refuse to take back their nationals by restricting visas for their diplomats. While the number of people entering Europe in search of better lives has dropped dramatically over the past year, EU countries only send back around 57