Here is eleven takeaway from the Budget speech 2023

In February last year, Treasury estimated that CPI inflation would be 4,8 percent. By October, it was predicting 6,7 percent. StatsSA reported 6,9 percent inflation in 2022.

Jones Gondo, a senior credit strategist at Nedbank, explains that this underestimation will likely result in more tax revenue and help to keep down the debt-to-GDP ratio. It will also render the government's spending plans unrealistic.

Recent indicators point to an economy stagnating ahead of next week’s Budget Speech.

The 2023 Budget speech is the most anticipated finance event of the year and, from tax implications to fuel levies, it is likely to affect your accounting business, and your clients’ businesses. 

In a recent press release Jeff Ryan, MD of AWCape shares the key trends that will shape payroll in 2023.

Grant funding can dramatically assist Educares in impoverished communities. However accessing grants requires wading through layers of red tape, which may include excessive accounting requirements.

The appointment of CIBA’s CEO Nicolaas van Wyk to the board of the South African Chamber of Commerce is another step in increasing the influence of accountants on the South African economy.

Statistic South Africa reported that the third quarter of 2022 saw a 1,6% growth in South Africa's gross domestic product (GDP).

The latest State of City Finances report shows that cities face ever tightening budgets and are plagued by structural issues, including a shortage of professional staff and stagnating revenue.

A growing and vibrant economy. A service outsourcing juggernaut and a nation with a proud culture and history. That's what CIBA delegates experienced during their visit to the 21st World Congress of Accountants in India last month.

The Auditor General is no longer just pointing out problems with financials, it’s threatening to hold accounting officers personally liable.

A glimpse into how tender corruption works and the role accountants play, based on insights from the recent CIBA Public Procurement Summit and work by Corruption Watch.

Tom Seidenstein, the chairperson of the IAASB, recently visited South Africa and shared his thoughts on the country’s audit scandal crisis and ESG.

Professor Firoz Cachalia intends to push for a new anti-corruption agency that addresses systemic corruption and “aspirant scumbags.”

Gauteng should focus on green industries if it wants to grow. Government should also concentrate on spending existing funds wisely rather than seeking new revenue, according to Gauteng’s new Finance MEC.

Speaking at CIBA’s Practice Management Conference, speakers explained that the South African economy, particularly the retail sector needs accountants. However, not the traditional kind.

In the lead-up to the Practice Management Conference, Bernard Agulhas who worked with the Zondo Commission and is the former CEO of IRBA, sharedhis insights on how the accounting industry is responding to State Capture.

It was a case of back to school for the attendees of the Practice Management Conference. They learnt about the challenges and opportunities for accountants in the school sector.

Experts outlined some of the challenges and rewards of working with non profits at the annual Practice Management Conference.

In his annual Medium Term Budget Policy Statement (MTBPS), Finance Minister Enoch Godongwana had some good news, some bad, and when you think of Eskom and economic growth, some ugly news. Here is the story in four graphs.