Code for Responsible Investing in South Africa formally launched
The Code for Responsible Investing in South Africa (CRISA) has been launched, making South Africa one of two globally to encourage institutional investors to make decisions that are centred on environmental, social and governance (ESG) matters. This code is directed at institutional investors such as pension funds and insurance companies as well as asset managers and consultants. It hopes to encourage shareholders and companies to operate in the concept of responsible investing.
IASB and FASB issues Credit Impairment Guideline Principles
The International Accounting Standards Board (IASB) and the Financial Accounting Standards Board (FASB) have combined their individual proposals and compiled a new credit impairment approach to attain convergence. This came after a supplementary document was released a t the end of the financial crisis and was developed as a proposed solution to the credit crunch.
IASB proposes changing the effective date of IFRS 9 to 2015
On 4 August 201, the International Accounting Standards Board (IASB) proposes changing the mandatory effective date of IFRS 9 from 1 January 2011 to 1 January 2015.
Nkonki celebrates its appointment as Vunani Internal Auditors
Nkonki is ecstatic to share news of its appointment as the sole Internal Audit service provider to Vunani Limited, effective September 2011.
Nkonki and the Financial Mail Launches Nkonki FM Integrated Reporting Awards
Nkonki Incorporated, an accounting and auditing firm has, in partnership with the Financial Mail, launched the unprecedented awards to recognize the best companies in integrated reporting on the JSE’s Top 40 and SRI index as required by King III.
IASB issues additional IFRS statements
The International Accounting Standards Board has completed its improvements to the accounting requirements for off balance sheet activities and joint arrangements by issuing IFRS 10 Consolidated Financial Statements, IFRS 11 Joint Arrangements and IFRS 12 Disclosure of Interests in Other Entities.
Nkonki celebrates 83% Pass rate
The 25th of every month is loosely referred to as "Pay-day" by many in the corporate world and for the 83% of Nkonki
Trainees who wrote the IRBA's Part 2 examination and qualified as Chartered Accountants, all the hard work and dedication they have put in has indeed paid off, for life.
The 2011 budget leaves faces smiling and minds uncertain.
Minister Pravin Gordhan presented the 2011 budget on Wednesday afternoon and put smiles on the man in the street while leaving some taxpayers uncertain about the tax costs and benefits.
Nkonki notches up another prominent client
Nkonki is proud to announce its appointment as Sole Internal Audit service provider to the Mining Qualification Authority (MQA)
N2010 Top Women Awards
Nkonki is the winner and proud to receive the award as the 2010 Top Gender Empowered Company of the Year in the Financial Services Category by Top Women Awards(TWA) at the Sandton Convention Centre Ballroom on Thursday, 9 September.
Nkonki appointed as internal auditors of
the Gauteng Gambling Board
The Gauteng Gambling Board (GGB) has awarded Nkonki Inc. the Sole Internal Audit service provider status with effect from August 2010. The Gauteng Gambling Board was established in 1996 to regulate gambling on behalf of the Gauteng Provincial government. The Board’s mission statement is as follows..
Nkonki appointed as joint internal auditors
of Land Bank
Once again, Nkonki has acquired yet another feather on its cap. The Land Bank has awarded Nkonki the contract to provide joint Internal Audit services with effect from 1 September 2010.
The Land Bank was established in 1912 and provides services mainly to the Agricultural sector. The Land Bank with a multi billion rand balance sheet has a new mandate to deracialise the agricultural sector and bring on board farmers from previously marginalized groups to the mainstream of South Africa's agricultural sector.
Nkonki achieves a 100% pass rate on Part 1
The South African Institute of Chartered Accountants (SAICA) announced the release of the 2010 Part 1 qualifying examinations results this week. While the overall SAICA pass rate has gone down compared to last year, Nkonki has pleasure in announcing a 100% pass rate. Nkonki would like to congratulate all successful candidates and wish them well for the future. “Nkonki has a proud history of consistently producing great results and this bodes well for the future, not only Nkonki’s but for the accounting profession and our country which is in dire need of skills.” said Nkonki CEO, Sindi Zilwa
Amendments to Regulation 28 of the Pension Funds Act 1956
By: Technical Development team at Nkonki.
The Financial Services Board has published for comment The draft Regulation 28 which gives effect to Section 36(1) (BB) of the Pension Funds Act 1956..
Proposed New Lease Accounting Standards detrimental to Airlines and other businesses
By: Professor Steven R. Firer Technical Partner Nkonki Inc.
The existing accounting model for leases has been criticised for failing to meet the needs of users of financial statements..
Quick Reference Guide to IFRS - 2010
By Professor Steven Firer -
Welcome to the first edition of Nkonki’S Quick Reference Guide to IFRS - 2010. This
reference guide provides summaries of all International Accounting Standards (IAS)
and the International Financial Reporting Standards. The summaries reflect the
latest revisions to the standards up to 31 December 2009.
Our Issues and Insights
Comment on the Draft Regulations on the Companies Act, 2008
By Professor Steven Firer -
Response to Juanita Steenekamp's call for comment on the Draft Regulations on the Companies Act, 2008. Please follow the link below and find the submissionm made by Nkonki Inc. Registered Auditors.
World’s three parallel crises call for adoption of integrated reporting
The problem has been exacerbated by three parallel crises, said corporate governance icon Professor Mervyn King at an integrated reporting seminar hosted by the South African Institute of Chartered Accountants (SAICA) in Johannesburg today..
Demand for sustainability assurance mushrooms
With sustainability reporting assuming ever greater prominence in the business world, the demand for sustainability assurance has been mushrooming, says Jayne Mammatt, head of sustainability services at Ernst & Young..
Nkonki is JSE accredited to audit JSE listed companies.
The JSE had appointed Nkonki Incorporated, a black accounting firm, as its accredited auditor to carry out audits of JSE-listed entities by itself. Nkonki, which has been practising for more than 17 years, has an in-house International Financial Reporting Standards (IFRS) advisor..
Nkonki has achieved a 60% pass rate on the PPE results released on the 26th of February 2010.
The PPE is the final test of professional competence for qualification as a Registered Auditor (RA) and Chartered Accountant (CA) and is administered by the Independent Regulatory Board of Auditors (IRBA). It assesses the competency of candidates at entry point to the auditing profession after 18 months of on the job training..
SA banks boast healthy risk ratios relative to most others
Johannesburg, Thursday, 4 March 2010 - While pending reforms to international banking regulations were likely to insist on higher capital requirements, South Africa's banks were well placed to meet such requirements.
Garnett’s huge contribution to global accounting standards to be advanced
Johannesburg, Thursday, 4 February 2010 - Tributes have been pouring into the offices of the South African Institute of Chartered Accountants (SAICA) following the announcement of the retirement of South Africa’s Bob Garnett as member of the International Accounting Standards Board (IASB) and of chairman of the International Financial Reporting Interpretations Committee (IFRIC).
SA contributes meaningfully to new global crusade for simplified financial reporting
Johannesburg, Wednesday, 3 February 2010 - A single set of globally accepted and principles-based accounting standards focusing on transparency and capital market needs would be ideal for all stakeholders.