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February 2016

Selling Your Business

Are you a small to medium-sized business owner? Selling your business is possibly not your priority right now, but in order to achieve a successful sale, you should start preparing early in order to optimise the value that you could receive. Let’s run through ten practical steps to help you achieve the best value on the ultimate sale of your business. Please note that this article is not in any way intended to be a technical treatise.

Tarryn Wright
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When Should I Establish a Risk Management or Internal Audit Function?

We are often asked the above question by organisations. Much like the answer to any business endeavour, the short and easy answer is when the value exceeds the cost.    However, the value is not always very easy to measure. Contrary to, for example, the value derived from starting a new manufacturing line or upgrading a key piece of equipment which is visible in the short term, the value derived from appointing a top non-executive director, strengthening the finance function to enable meaningful data analysis or establishing an internal audit or risk management function, is over a longer term. In addition, value derived from establishing an internal audit or risk management function is much more difficult to quantify. 

Louw van der Merwe
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The Imperative for Mining Companies to Micro-Manage Surface Right Entitlements

BACKGROUND TO THE RISKS   The mining industry is a complex integration of many disciplines, all of which, when aligned, contribute towards achieving the commercial targets of the enterprise. The risks are enormous but the rewards are satisfying. Amongst these risks, there are two fundamental issues that can have a fatal impact on the success of the operations – complications related to tenure and inaccurate databases.

Frank Gregory – The Mineral Corporation
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Is Bartering Making a Comeback?

Bartering, the ancient and original form of trading used before the introduction of legal tender, allows parties to dispense with cash but still be able to acquire the goods and services they require. Tough economic times across the globe have seen an increase in trading by bartering. Bartering is making a comeback!

Charles Ancer & Emma Forbes - Norton Rose Fulbright
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Being A Director – What Is My Operational Role?

We are often asked about the operational responsibilities of directors. There is a large degree of subjectivity associated with the answer, and therefore no short, definitive answer that applies to all.  The importance of getting it right, however, cannot be overestimated.  Ask any executive about the frustrations and inefficiencies of a director getting it wrong towards the heavy end; and then ask any shareholder about the disappointments in a well-paid director being on the barely asleep side of involvement.  So how do some get it right, and what constitutes “right”?

Louw van der Merwe
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New Regulatory Tax Reporting Requirements

In March 2016, the global version of the United States’ Foreign Account Tax Compliance Act (FATCA), also known as the Common Reporting Standard (CRS), will come into effect in South Africa. Both FATCA and CRS affect individuals, entities and financial institutions globally. In essence, FATCA aims to combat US offshore tax evasion and recoup US tax revenues. It requires non-US financial institutions to provide the US Internal Revenue Service (IRS) with information relating to its clients who are US citizens (in South Africa this information flow is facilitated via SARS).  Moore Stephens receives regular requests for Voluntary Disclosure assistance. Candice Olivier and Brett Abramowitz from Investec outlines some key points. 

Candice Olivier and Brett Abramowitz - Investec
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Picking Up the Pieces

The Zuma Policy ErrorThe policy error made by President Jacob Zuma in December last year, when he fired Finance Minister Nene and replaced him with unknown Desmond van Rooyen, is still priced into our investment markets.  

Analytics
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More Countries Sign Up to Transparency Through the EITI

The rising number of governments committing to the Extractive Industries Transparency Initiative (EITI) is a sign that they are getting more serious about transparency in their mining, oil and gas industries, as well as being more proactive about weeding out corruption in the sector.  

Kim Cloete
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