Change today is constant and continuous, and futurists must update their predictions more frequently. Technology is driving this fast-paced change, transforming industries and professions—including auditing and accounting. However, auditors and accountants must look beneath the surface to understand the real challenges and opportunities implicit in new technologies and what they enable.
Automation is a case in point. It is estimated that robotics and artificial intelligence will replace up to 5 percent of all jobs globally by 2020, even disrupting professions, like journalism and law,that previously seemed immune to this type of change. There is no doubt that automation is already changing the face of auditing and accounting. Intelligent software brings the intellectual capital and best practice that used to be reserved for the Big Four within the grasp of even the smallest firms, and it can streamline complex processes to improve profitability while enabling the delivery of better value to clients.
It’s no exaggeration to say that technology has provided finance professionals with an unprecedented set of opportunities, and levelled the playing fields for financial services firms. For most accounting and auditing firms, the decision to automate has probably already been taken. But, as always, to achieve the real benefits, they need to spend a lot of time understanding what the real opportunities are.
The first decision to make is whether the firm should develop its own solution or not. We should remember here the trouble that many companies got into by deciding to develop their own enterprise resource planning systems, or to customise packaged solutions like SAP or Oracle extensively. They found themselves with increasingly unwieldy and poorly documented pieces of software, which proved to be a nightmare to keep updated in line with new developments in: technology; industry standards, and regulation.
Adopting the “build your own” approach also invariably means that companies simply digitise their existing processes, rather than taking the opportunity to transform the way they do things in line with industry best practice. To make a substandard process more efficient is to miss out on the real potential of automating, which is transformation.
All of this makes a cogent argument for auditors and accountants rather to tap into the benefits of using existing global solutions that have been developed by leading experts, and that are in line with global regulations and best practice. Of course, it is also critical to choose a solution that has been localised to take account of regional standards and regulations.
By following this route, a firm will not only gain the benefits of efficiency from automation, it will immediately be placed on a par with the best the globe has to offer. Generally speaking, such packages should enable a trial balance from any accounting system to be integrated and allocated to compliance-reporting categories. From there, it should be able to produce a set of financial statements instantly. It can also be set up to consolidate company data with true aggregation and elimination capabilities. This information can be furnished easily as frequently as required.
Additional reporting requirements can be added to the automation template as needed. In short, purchasing a software package is a way to marry improved productivity with enhanced quality—thus creating new opportunity for the accounting or auditing firm. For its clients, the ability to access up-to-date, accurate financial information in specified and useful formats easily adds considerable value beyond the audit; it provides the basis for informed decision-making about the future of the business.
About CaseWare Africa
CaseWare Africa, a division of Adapt IT, is the global leader in auditing and financial reporting software and is used in over 130 countries worldwide. Our 20 000 users across Africa, consist of audit and accounting firms, government entities, municipalities as well as large blue chip companies.
CaseWare is the undisputed leader when it comes to compliance. Our leading content providers ensure you are always compliant with the latest disclosure requirements on ISAs, IFRS, IFRS-SME, GRAP and IPSAS. Our world-class products are not only designed to deliver on our compliance promise, but ensure quality results, increased effectiveness and improved profitability.
Theuns Holtshousen is Business Leader, CaseWare Africa
As a response to avert vulture poisoning currently going on in Botswana and KAZA region, Birdlife Botswana has collaborated with three other partners (BirdWatch Zambia, BirdLife International & Birdlife Zimbabwe) to tackle wildlife poisoning which by extension negatively affect vulture populations.
The Director of Birdlife Botswana, Motshereganyi Virat Kootshositse has revealed in an interview that the project which is funded by European Union’s main goal is to reduce poisoning related vultures’ death and consequently other wildlife species death within the KAZA region.
He highlighted that Chobe district in Botswana has been selected as a pilot site as it has experienced rampant incidents of vulture poisoning for the past few months. In August this year at least 50 endangered white backed vultures were reported dead at Chobe National Park, Botswana after feeding on a buffalo carcass laced with poison. In November this year again 43 white backed vultures were found dead and two alive after feeding on a zebra suspected to have poisoned. Other selected pilots’ sites are Kafue in Zambia and Hwange in Zimbabwe.
Kootshositse further explained they have established a national and regional Wildlife Poisoning Committee. He added that as for the national committee they have engaged various departments such as Crop Productions, Agro Chemicals, Department of Veterinary Services, Department of Wildlife and National Parks and other NGOs such as Raptors Botswana to come together and find a long-lasting solution to address wildlife poisoning in Botswana. ‘Let’s have a strategy or a plan together to tackle wildlife poisoning,’ he stated
He also decried that there is gap in the availability of data about vulture poisoning or wildlife in general. ‘If we have a central point for data, it will help in terms of reporting and advocacy’, he stated
He added that the regional committee comprises of law enforcement officers such as BDF and Botswana police, village leadership such as Village Development Committee and Kgosi. ‘We need to join hand together and protect the wildlife we have as this will increase our profile for conservation and this alone enhances our visitation and boost our local economy,’ he noted
Kootshositse noted that Birdlife together with DWNP also addressed series of meeting in some villages in the Chobe region recently. The purpose of kgotla meetings was to raise awareness on the conservation and protection of vultures in Chobe West communities.
‘After realizing that vulture poisoning in the Chobe areas become frequent, we realise that we need to do something about it. ‘We did a public awareness by addressing several kgotla meetings in some villages in the Chobe west,’ he stated
He noted that next year they are going to have another round of consultations around the Chobe areas and the approach is to engage the community into planning process. ‘Residents should be part of the plan of actions and we are working with farmers committee in the areas to address vulture poisoning in the area, ‘he added
He added that they have found out that some common reasons for poisoning wildlife are farmers targeting predators such as lions in retaliation to killing of their livestock. Another common incident cross border poaching in the Chobe area as poachers will kills an elephant and poison its carcass targeting vultures because of their aerial circling alerting authorities about poaching activities.
Kootshositse noted that in the last cases it was disheartening the incidents occurred three months apart. He added that for the first time they found that some of the body parts of some vultures were missing. He added harvesting of body parts of vultures is not a common practice in Botswana, although it is used in some parts of Africa. ‘We suspect that someone took advantage of the availability of carcasses and started harvesting their body parts,’
The music industry is at a point where artists are jostling for space because there are so many aspirants trying to get their big break, thus creating stiff competition.
In the music business it’s about talent and positioning. You need to be at the right place at the right time with the right people around you to propel you forward.
Against all odds, Everton Mlalazi has managed to takeover the gospel scene effortlessly.
To him, it’s more than just a breakthrough to stardom, but a passion as well as mission directly appointed by the Lord.
Within a short space of 2 years after having decided to persue a solo career, Mlalazi has already made it into international music scene, with his music receiving considerable play on several gospel television and radio stations in Botswana including other regional stations like Trace Africa, One Gospel, Metro FM in South Africa, Hope FM in Kenya and literally all broadcast stations in Zimbabwe.
It doesn’t only stop there, as the musician has already been nominated 2 times and 2 awards which are Bulawayo Arts Awards (BAA) best Male artists 2022, StarFM listerners Choice Award, Best Newcomer 2021 and ZIMA Best Contemporary Gospel 2022, MLA awards Best Male artist & Best Gospel Artist 2022.
Everton’s inspiration stems from his ultimate passion and desire to lead people into Godly ways and it seems it’s only getting started.
The man is a gospel artist to put on your radar.
Minister of Health Dr Edwin Dikoloti says Africa member states call on World Health Organization (WHO) to ensure equitable resource allocation for 2024-2025. Dr Dikoloti was speaking this week at the WHO Executive Board Meeting in Geneva, Switzerland.
He said countries agreed that there is need to address the budget and funding imbalances by increasing the programme budget share of countries and regions to 75% for the next year.
“The proposed budget for 2024-2025 marks an important milestone as it is the first in Programme Budget in which country offices will be allocated more than half of the total budget for the biennium. We highly welcome this approach which will enable the organization to deliver on its mandate while fulfilling the expectations for transparency, efficiency and accountability.”
The Botswana Health Minister commended member states on the extension of the General Programme of Work (GPD 13) and the Secretariat work to monitor the progress towards the triple billion targets, and the health-related SDGs.
“We welcome the Director’s general proposed five priorities which have crystalized into the “five Ps” that are aligned with the GPW 13 extension. Impact can only be achieved through close coordination with, and support to national health authorities. As such, the strengthening of country offices is instrumental, with particular focus on strengthening national health systems and on promoting more equitable access to health services.”
According to Dr Dikoloti, the majority of countries with UHC index that is below the global median are in the WHO Africa region. “For that, we call on the WHO to enhance capacity at the regional and national levels in order to accelerate progress. Currently, the regional office needs both technical and financial support in order to effectively address and support country needs.”