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Tsakani Matshazi, chairwoman of the chartered accountants charter council, said yesterday that the "ambitious" ownership targets took into account the "unique structure" of the profession. This particularly included the legal restrictions on ownership and management of firms in public practice and the qualification path taken by prospective chartered accountants. via www.businessday.co.za I should have posted […]

Johannesburg – Big accounting firms have to be 32.5% black-owned by 2016, the black economic empowerment (BEE) charter for the profession stipulates, the Business Day newspaper reported on Thursday. The charter was signed recently by Trade and Industry Minister Rob Davies after seven years of negotiations, and will be gazetted and implemented next week. Accounting

I had a decent job once. And its definition is very different from that of Cosatu or the ILO which says: “Decent work is the availability of employment in conditions of freedom, equity, security and human dignity.”  Like some lofty constitution in trying to say everything, it says nothing about the real texture of how

Government’s faith in government investment and spending, including investment in state-owned enterprises, is misplaced. Mankind has not been delivered from abject poverty in the last three centuries by kings or governments but by the activities of entrepreneurs who have constantly and persistently discovered new ways of utilising resources for the benefit of consumers. Unfortunately, this

South Africa has found widespread violations during an audit of miners and other mineral rights holders in the country, Minerals Minister Susan Shabangu said on Monday. "The moratorium on prospective rights has been lifted but in Mpumalanga these will only lifted in September," Shabangu said. via www.businessday.co.za

The eight-month moratorium on granting prospecting licences is expected to be lifted on Monday with the unveiling of an online application system expected to ensure transparency and reduce turnaround times via www.iol.co.za But has the DMR managed to shake off its corruption label?

Mining communities were not consulted about the review of the mining charter, which is why the parliamentary portfolio committee for mineral resources started holding public hearings on the matter this week. This could lead to new provisions in the revised charter, especially with regard to ownership, affirmative action, skills development and housing, according to portfolio

The Preferential Procurement Policy Framework Act (PPPFA) is being redrafted to empower the Department of Trade and Industry (DTI) to “designate” sectors that will be required to integrate the emerging local-content thrust. In the process, the PPPFA’s points system will be aligned to broad-based black economic empowerment codes, so as to ensure that both industrial

According to TechCentral, South African telecoms regulator the Independent Communications Authority of South Africa (ICASA) intends to reintroduce a stipulation that companies applying for access to radio frequency spectrum must have at least 30% of their equity in the hands of Historically Disadvantaged Individuals (HDI); the definition of HDI differs from traditional Black Economic Empowerment

"Zimbabwe's rising resource nationalism…could very well be a mistake." "More robust government ownership and higher taxes tend to increase the costs structure and life risk, which increases the required rate of return on invested capital," he advised. In his analysis, Melek observed "a harder form of resource nationalism can totally squeeze out private capital and