Creative businesses do not struggle with compliance because they are careless, but because traditional accounting systems were never designed for how they work. Income is irregular, project-based, and often delayed, while accounting assumes predictable cycles and stable cash flow. When these assumptions collide, VAT becomes a surprise, provisional tax feels punitive, and penalties appear before understanding does. Many creatives are labelled as disorganised when the real issue is structural misalignment. They think in deadlines and deliverables, not tax periods and accruals. When accounting is adapted to reflect this reality, compliance improves, anxiety drops, and the accountant becomes a trusted advisor rather than the bearer of bad news.

Changing a company’s financial year-end may look like a simple date change, but in reality it is a regulated decision with compliance consequences. The year-end can be shortened, but it may never exceed 15 months, and the change only becomes valid once approved by CIPC. When this step is missed, financial statements, annual returns, and compliance timelines fall out of sync, often leading to penalties and unnecessary rework. For CBAPs, understanding not just what can change, but how and when, is essential to getting it right the first time.

How do you know when something is a big deal, and when it’s just noise? Every accountant faces that call, especially during reviews, reporting, or when a questionable director loan lands on your desk. That’s where materiality comes in. It helps you cut through the clutter, spot what really matters, and avoid wasting time on things that don’t move the needle. In this article, we break materiality down in simple terms, what it is, when to use it, and how to calculate it without overthinking it.

Deferred tax doesn’t have to be intimidating. By focusing on timing rather than technical rules, this article explains how income tax and deferred tax work together under IFRS for SMEs — and why deferred tax is less about compliance and more about telling the full financial story.

Fraud is back in the spotlight and accountants need to pay attention. With new changes to the audit standard ISA 240, there’s now more focus on identifying and responding to fraud risks in financial reporting. What does this mean? There will be more questions from auditors, stricter checks on controls, and closer review of red flags like unusual transactions or poor cash flow. Do not be left behind, know what’s changed, what to look out for, and how to stay prepared.

B-BBEE affidavits may look quick to complete, but they require more than filling in a form. When a practitioner helps a client with an affidavit, the work must be done as an Agreed-Upon Procedures (AUP) engagement. This means you check only the facts, perform the procedures agreed with the client, and then report exactly what you found. You do not give an opinion, you do not confirm compliance, and you do not provide assurance. You simply state the factual findings from the procedures performed. This protects you and gives the client a correct and defensible affidavit.

Many business owners still believe revenue is recognised when the customer orders, pays or collects. But accounting does not follow the cash or the excitement of a new order. It follows performance. Revenue is only recognised when you have delivered what you promised and the customer has gained control of it. This simple idea, performance before payment, is the key to getting revenue recognition right and avoiding the common mistakes that distort profits.

Every dusty item on a shelf is a silent cash-flow leak waiting to be exposed. Small businesses underestimate how much money is trapped in stock that no one wants to buy anymore. When accountants step in and help identify obsolete inventory, they free up working capital and protect clients from inflated closing stock and SARS problems. This is practical advisory work clients value immediately.

A Chart of Accounts isn’t an admin checklist — it’s the financial engine that drives profit, compliance, and credibility. Get it wrong, and your reports become chaos. Get it right, and you gain instant control, cleaner audits, and sharper business insights. Here’s how smart accountants turn the COA into a strategic advantage.

When audit season arrives, the tension often builds long before the auditors even walk through the door. The real problem is not the audit itself, but the lack of audit readiness. Missing documents, late reconciliations, and unclear explanations turn a simple process into a stressful one. This article explains how accountants can guide clients toward smoother, calmer and more efficient audits by building simple habits throughout the year. When clients stay organised and proactive, the audit stops feeling like a fight and becomes a powerful tool for trust, growth and better business decisions.

When money hits your bank account before you’ve done the work, it can feel like income, but accounting tells a different story. Income received in advance is a promise, not profit. Whether it’s prepaid rent, school fees, or a subscription, this money belongs on your balance sheet as a liability until you’ve earned it. Understanding this simple concept helps businesses stay honest, accurate, and financially sound.

Prepayments may seem like small accounting entries, but they reveal a lot about how a business thinks about time and value. Paying upfront for future benefits is not just a cash flow decision — it’s a lesson in discipline, foresight, and financial honesty. For accountants in practice, explaining prepayments in plain language can turn a routine adjustment into a powerful conversation about planning, trust, and smarter business. After all, good accounting is not about the past; it’s about making tomorrow’s numbers make sense.

CVP analysis shows how costs, sales, and profit connect. It helps financial managers and advisors move from reporting numbers to guiding real decisions like pricing, growth, and risk planning. Simple, clear, and powerful, it turns everyday data into strategies that keep businesses profitable and future ready.

Independent reviews are not about ticking boxes or cutting corners. Under ISRE 2400, the true strength of a review lies in asking the right questions. Effective enquiry goes beyond “yes or no” answers , it digs into the story behind the numbers, uncovers risks, and opens doors to valuable insights. When practitioners master this skill, they not only protect themselves and their clients but also transform a statutory requirement into an opportunity to build trust, grow their practice, and strengthen South Africa’s business landscape.

Analytical procedures are the secret weapon of independent reviews. They save you time, expose hidden risks, and open doors to valuable client conversations. Instead of drowning in invoices, you get to play detective, comparing periods, linking statements, and spotting anomalies that tell the real story behind the numbers. Done well, these procedures turn a compliance exercise into an opportunity to add value and position yourself as the trusted expert.

Independent reviews are often underestimated, but the truth is they play a powerful role in building trust and credibility. The key to getting them right is not more checklists or endless procedures, but smart planning. ISRE 2400 (Revised) reminds us that a focused, well-documented plan is the foundation of quality. From setting materiality to identifying risk areas and designing targeted procedures, planning helps practitioners work smarter while protecting their practice. Done right, it turns an independent review into more than compliance , it becomes a valuable service that strengthens client confidence and showcases the professionalism of CIBA members.

Many business owners say they want to “sell their business” without realising there are two very different ways to do it. A share sale means the whole company changes hands, while an asset sale means only the equipment, stock, or contracts are sold. The choice affects tax, risks, and even how the financial records look afterwards. Knowing the difference is vital, and it’s where your guidance as a Chartered Business Accountant in Practice adds real value.

Independent reviews do not start with analytical procedures or management enquiries. They begin with one critical decision: whether to accept or continue with a client. ISRE 2400 requires practitioners to ensure that preconditions are in place, management understands its responsibilities, and independence is safeguarded. Accepting the wrong client exposes the reviewer to unnecessary risk, while a careful acceptance and continuation process protects both the practitioner and the credibility of the profession. For CIBA members, this step is more than compliance, it is the hallmark of professional excellence.

Think It Is Just One Business? Think Again.

Many SMEs unknowingly operate as part of a group — and by ignoring consolidated financials, they could be flying blind. This article looks at why even the smallest “groups” need a full financial picture to make smart decisions, attract funding, and avoid hidden risks. If you're only looking at one entity’s numbers, you're not seeing the whole story. Read below for more practical tips!

Independent reviews are not just a quick sign-off. Under ISRE 2400, practitioners carry real responsibilities that go far beyond ticking boxes. You are the referee who ensures the game is fair, the professional who applies scepticism when numbers do not add up, and the communicator who helps clients understand the value of limited assurance. When you own your role, you protect the public, elevate your practice, and strengthen the credibility of financial reporting.