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October 2014

INDEPENDENT REGULATORY BOARD FOR AUDITORS

South Africa maintains first position for the strength of Auditing and Reporting standards for five years in a row South Africa maintained its number one ranking for the strength of the Auditing and Reporting Standards for the fifth year in a row according to the World Economic Forum′s (WEF) Global Competitiveness Index for 2014-2015, released on 3 September.

IMPORTANT NOTICE TO CUSTOMERS - DISCONTINUED ACCEPTANCE OF CHEQUE DEPOSITS

The Companies and Intellectual Property Commission (CIPC) would like to inform customers that CIPC no longer accepts cheque deposits as a form payment with immediate effect. This is due to the high volume of dishonoured cheques received in the CIPC bank account.

TIGHTENING UP ON TAX IN AFRICA

With many African governments tightening up on their labour, tax and immigration policies, companies employing expatriates increasingly need to up their game. “The days of staff being paid offshore to avoid in-country tax and social security responsibilities are fast drawing to an end. Companies and staff currently involved in these under-the-radar activities should be concerned,” says David White, CEO of Moore Stephens DRG Outsourcing SA Pty Ltd.