This is the fifth year that Nkonki is recognising the top companies listed on the Johannesburg Stock Exchange (JSE) for their integrated reports. The annual award started in 2011 and initially covered only the Top 40 companies by market capitalisation. In 2012 to 2014, the scope was extended to cover the Top 100 companies due to the prevalence of integrated reporting in South Africa. Nkonki is...

The Listings Requirements of the JSE Limited (“the Listing Requirements”) apply to all companies listed on the main board or the alternative exchange. The purpose of this document is to provide a high level overview of the amended Listing Requirements as at September 2015, with a specific focus on continuing obligations, and should therefore not be seen as a comprehensive record of all the...

Principle 7.3. of the King III Code on Corporate Governance requires that Internal Audit should provide a written assessment on the effectiveness of the company’s system of internal controls and risk management. This will give substance to the endorsement by the directors of the effectiveness of internal controls in a company in the integrated report. In applying principle 7.3, King III...

Since the introduction of King III, the need for a risk based internal audit has been emphasised through the following five principles; Principle 7.1 The board should ensure that there is an Effective Risk Based Internal Audit. Principle 7.2 Internal audit should follow a Risk Based Approach to its Plan Principle 7.3 Internal Audit should provide a Written Assessment of the Effectiveness of the...

Accurate, credible and reliable financial reporting is critical for the effective functioning of the world’s capital markets and the protection of the interests of stakeholders who rely on such information for their decision making. Directors of companies are also experiencing increased pressures and are facing new challenges from developments in legislation, regulations, corporate governance...

The assessment of the financial crisis in so far as corporate failures and the value of an audit are concerned, resulted in regulators and investors recognising that auditors have significant insight into the audited entity. However, the Auditor’s Report is written in standardised boiler-plate language which does not provide any of that insight into this auditor knowledge of the entity other...

Audit Committee members are always challenged to be on top of their game when it comes to the ability to evaluate and interrogate the numbers presented to them.This alert is intended to provide an overview of the most recent and available data on key economic indicators which can be used as a backdrop when dealing with specific agenda items. Based on the evolving trends, it concludes with a...

In this Alert we bring to your attention the PCAOB’s: Key recurring areas of concerns include: Auditing internal control over financial reporting; Assessing and responding to risks of material misstatements; Auditing accounting estimates, including fair value measurements; and Cross border audits. New Risks the PCAOB is monitoring which include: Increase in mergers and acquisitions; Falling oil...