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December 2018

Dear Client / Geagte Kliënt


Newsletter
 
 

Delegeer Verantwoordelik / Delegate Responsibly

Dikwels verskyn daar in ‘n stel geouditeerde state ‘n frase “bestuur/direkteure se verantwoordelikheid (management/directors' responsibility).” Dit kom ook voor in die ouditeur se aanstellingsbrief en ouditeursverslae.  Weet ons altyd wat dit beteken? Zuydam Konsult bied die volgende verduideliking.

“Management is responsible for the management of the business, for implementing and monitoring of internal controls in the business, and in terms of the Companies Act (“the Act”), for maintaining adequate accounting records and the content and integrity of the financial statements. These financial statements must be issued annually to reflect the results thereof.”
 
Sodanige finansiële state word natuurlik gebruik deur verskeie belanghebbendes (soos ondermeer aandeelhouers, direkteure, banke, SAID, ens.) om spesifieke besluite te neem (soos met die koop en verkoop van aandele, waardasies, bepaling van krediet-voorwaardes, ens.) en die inligting daarin moet dus 'n ware weerspieëling wees van die betrokke besigheid se finansiële situasie op die datum van die state. Dit is dus van kritieke belang dat alle transaksies geldig gesluit moet wees, akkuraat gereflekteer word en presies in die regte finansiële jaar aangeteken wees, asook korrek geklassifiseer word en dat alle bates en laste wat bestaan, aangeteken word teen die regte koste / waarde daarvan.

In terms of the Act, financial statements are to be prepared using either International Financial Reporting Standards (“IFRS”) or IFRS for Small to Medium-sized Entities (“IFRS for SME’s”).  Luckily management is not responsible to be experts in the above-mentioned standards, as the Act does allow for management to delegate the task of preparing the financial statements to someone with the knowledge and skill set to be able to perform this task. The Act does, however, not allow management to delegate the responsibilities that go along with it too, so they need to ensure that when they do delegate the task, that it is to a responsible person and that they review the financial statements before approving it.
 
Hierdie artikel dien bloot as algemene inligting en is nie bedoel om as spesifieke regs- of ander professionele advies te dien nie. Kontak altyd u ouditeur of finansiële adviseur vir spesifieke en gedetailleerde advies rakende u maatskappy se finansiële status.

Lekker rus en Fees Groete! Relax and enjoy the Festive Season!

Groete / Greetings

Hennie & Eberhard 
 
|  Directors





 
 
 
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Steps In Administering A Deceased Estate
There are several steps required to administer a deceased estate, but the key stages are listed in the schedule written by Danny van Zyl.  It's always best to see your attorney for good advice but this will give you an idea of how things should be structured if a loved one passes away and you are left to deal with the estate. 

If you require any estate assistance please do not hesitate to contact our office and we will be more than happy to assist you.
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Wanneer moet ek registreer as kredietverskaffer?  
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Dit klink verregaande dat ‘n mens ingevolge die Nasionale Kredietwet as ‘n kredietverskaffer moet registreer om ‘n eenmalige lening aan ‘n vriend of ‘n famililielid te mag maak. Dit is presies wat ‘n nuwe beslissing van die Hoogste Hof van Appèl bepaal.

Ons bespreek wat gebeur indien jy nie registreer nie, indien dit wel van jou vereis word. Ons kyk na die grys area rondom die vraag oor wanneer jy moet registreer en wanneer nie en ons kyk ook na die spesifieke risiko’s wat verkopers van eiendom in die gesig staar.

Alle aanduidings is dat dit ‘n tydsame proses is, met die meegaande rompslomp om as ‘n kredietverskaffer te registreer. Dit help dus om eerder vooruit te beplan.
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Firearm Owners: What to Do if Your Licence Has Expired
Of course the police deserve all our support in their efforts to rid South Africa of the scourge of illegal firearms – there’s an estimated 2.3m of them out there!

What happens though if, as a legal gun owner, you have for some reason allowed your firearms licence to expire? You may well have come under pressure from the police to surrender your firearm for destruction, on pain of arrest and prosecution for a very serious offence.

That’s an alarming quandary to be placed in and almost half a million other expired licence holders join you in the same boat. So it’s important that you are aware of the terms of the High Court interdict recently granted against SAPS. Read on for the details…
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Die Aanmelding van ‘n Misdaad en die Gevaar van Laster: Lesse vanuit die Werksomgewing.  
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Elkeen van ons het ‘n plig om misdaad by die polisie aan te meld. Dit is veral belangrik wanneer dit in ons werksomgewing gebeur. Stilbly kan ‘n mens ook in die moelikheid laat beland.

Maar wat as dit later blyk dat dit die verkeerde besluit was om die misdaad te rapporteer? Of dit dalk nie bewys kan word nie? Kan jy jou aan die  ontvangkant van ‘n lastereis bevind? 

Ons bespreek hierdie na aanleiding van ‘n onlangse hofsaak. ‘n Werknemer is in hegtenis geneem as gevolg van ‘n vermoede dat hy op ‘n bedrieglike wyse iPads ter waarde van R138,000 bestel het. Die polisie laat hom vry sonder om hom aan te kla.  Hy dagvaar sy werkgewer vir skadevergoeding van R1,6 miljoen. Die hof lys drie dinge wat bewys moet word as jy jou wil beroep op die verweer dat dit redelik was om die misdaad aan te meld.
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 Our Directors
             
       
    Hennie van Zyl
DIRECTOR
021 180 4551 / 083 250 9501
hvanzyl@vzk.co.za
      Eberhard Kruger
DIRECTOR
021 180 4552 / 082 789 1706
ekruger@vzk.co.za
      Cheryl-Anne Ehrenreich
DIRECTOR
021 180 4564 / 082 783 7242
cheryl@vzk.co.za
   
     Full Bio →

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© LawDotNews & Van Zyl Kruger Inc. This newsletter is a general information sheet and should not be used or relied on as legal advice. No liability can be accepted for any errors or omissions nor for any loss or damage arising from reliance upon any information herein. Always contact your legal adviser for specific and detailed advice.

VAN ZYL KRUGER INCORPORATED (REG. NO 2015/174073/21) (VAT NUMBER 413 0273 172)


www.vzk.co.za

Suite A4-2, Avanti Building, South Block,
cnr Carl Cronje Drive & Bill Bezuidenhout Avenue, Bellville, Cape Town

info@vzk.co.za | Reception: 021 180 4550 | Fax: 021 180 4540


DIRECTORS: H L VAN ZYL (B.PROC); E S KRUGER (B.COMM LL.B MPRE); C A EHRENREICH (BA.LL.B LL.M)
ASSOCIATES: S JANSE VAN RENSBURG (B.COM LL.B); LI CHANTLER(B COMM LLB); D VAN ZYL (LL.B LL.M);
M VAN DEN HEEVER (LL.B); A BARNARD (B.COM LL.B DIP.FINPLANNING).
PRACTICE MANAGER: F BRAVENBOER (NDIP FIS).
CONSULTANT: J A L VAN ZYL (B.JURIS LL.B); C I’ANSON-SPARKS Solicitor in England and Wales (LL.B(HONS), DIP LEGAL PRACTICE)