Legal insights

Requirements & identification of suitable beneficiaries

The global financial crisis brought to the fore questions surrounding the scope and quality of external audit, market concentration and auditor independence. The crisis reopened concerns about auditor tenure and its consequences for auditor independence and audit quality.

On 3 September 2018, the Broad-Based Black Economic Empowerment Commission issued a Practice Guide, which clarified the Broad-Based Black Economic Empowerment (B-BBEE) requirements for Exempted Micro Enterprises (EMEs) and Qualifying Small Enterprises (QSEs).

How corporations should be maximising long-term sustainability

Whether the economy of a country is in a period of retraction or expansion, one element of commerce which remains relevant is the intermittent reliance of companies on its shareholders for the provision of adequate capital funding in conducting its business. The motivation for the provision of capital funding may well differ, i.e.

The Labour Laws Amendment Bill (“the Bill”), would allow for the amendment of the Basic Conditions of Employment Act of 1997 (BCEA).

Section 1 of the Companies Act 71 of 2008 (Companies Act) defines a Director as “a member of the board of a company, as contemplated in section 66, or an alternate director of a company and includes any person occupying the position of director or alternate director, by whatever name designated”.

On the 27th of March 2018, the President of the Republic of South Africa launched the Youth Employment Services (YES) Initiative, a business-led collaboration with government and labour, which aims to create more than one million paid internships for black youth.

From 9th June 2017, any Major B-BBEE Transaction is required to be registered with the B-BBEE Commission in the prescribed Form BBBEE 18, within 15 days of being concluded.

We live in a period where technology allows consumers to be contacted at any time via e-mail, phone calls and even through social media.