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Nkonki believes that the oversight capability of Audit Committee members is critical to ensure that the standards of governance and corporate reporting in South Africa remains admirable. Through the Nkonki Audit Committee Support Centre, Nkonki issues regular Audit Committee Alerts that are geared to provide a watchful eye on behalf of Audit Committees and pass the information or insights gained...

At Nkonki we are well-placed to assist the Retirement Fund industry as a result of our deep experience in this sector. Not only that, but because we like to ensure we live up to our promise to our clients, we have developed specific solutions for this ever-changing and often complex industry. These solutions are based on our in-depth understanding of the sector, the learnings we have gleaned...

Telkom shareholders approved Nkonki’s appointment as joint external auditors with EY by 99.99% at the recent AGM. A special thanks to the Audit Committee, management and board for taking this major step towards transforming the South African auditing profession. Telkom is one of the JSE Top 100 Listed Companies in South Africa and is a leading communications services provider, with consolidated...

Nkonki is proud to announce that the firm is now a member of the US-based Public Company Accounting Oversight Board (PCAOB), which exercises oversight over audit firms that audit companies listed on the New York Stock Exchange (NYSE). Nkonki is now able to audit South African companies that are dual listed on the JSE and the NYSE, as well as any NYSE-listed companies with subsidiaries in South...

Nkonki hosted a workshop on the King IV Retirement Funds sector supplement, with the discussion led by Retirement Fund Sector Lead Partner, Thuto Masasa. With over 5,100 pension and retirement funds registered in South Africa, it is fundamental for these funds to understand how King IV will apply to them, and delegates attending the session were keen to share views of the draft Code and the...

Nkonki conducted a comprehensive survey of Audit Committee chairs to identify the general perceptions and experiences of the JSE top listed companies regarding both internal and external audit, and to gather perceptions and expectations of Audit Committees. This was done to determine what is needed to take the auditing profession’s reputation to the next level, but perhaps more importantly, to...

Lead Integrated Reporting partner Thuto Masasa presented on “Integrated Reporting: Smart practice for value creation in the Retirement Fund Industry” at the Batseta Winter Conference 2016 held at the Durban ICC on 6th and 7th June. Download a copy of the presentation below, which is focused on the benefits of corporate governance best practice, as well as the benefits of integrated reporting has...

As retirement funds are an important component of the institutional investor industry and should hold investee companies accountable for good corporate governance, in addition to having fiduciary duties to their beneficiaries, the King IV Report on Corporate Governance for South Africa , has deemed it essential to produce a supplement that specifically focuses on the retirement funds industry....

Nkonki is of the view that it is imperative for South African Audit Committee members to be familiar with the latest initiatives and trends affecting the profession. As a result, this Alert focuses on the most recent updates with regard to Audit Quality Indicators (AQIs). Even with more and more emphasis being placed on measuring audit quality by regulators, oversight bodies, professional bodies...

As a practical expedient, an entity is not required to reassess whether a contract is, or contains, a lease at the date of initial application. The only determination that needs to be made is whether such a lease was previously classified as operating. The lessee shall either apply IFRS 16 with full retrospective effect (applying IAS 8 “Accounting Policies, Changes in Accounting Estimates and...

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