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1 is, of course, the traditional route, which a lot of people follow and go through one of the accounting firms, and, typically, they go through audit related activities. Audit never interested me all that much, so it wasn’t a route I was particularly excited about. How do I audit this thing? I must be honest.
Ensure auditable reporting and compliance The CFO needs to work with other functions like corporate financial reporting, regulatory compliance, tax, treasury, and legal to ensure timely, auditable reporting and financial accounting. The CFO should ensure their team is fully enabled and incentivized to collect actual emissions data.
This makes them versatile tools in various fields such as education, customer service, and even creative writing. AI driven automation is expected to extend to more complex tasks such as, audits, risk management, and financial planning and analysis. For instance, could financial statements generated by ChatGPT withstand audit scrutiny?
In South Africa, we seem to apply IAS 38 with extra caution—thanks in part to our regulatory environment , where bodies like the Independent Regulatory Board for Auditors (IRBA) enforce stringent controls on audit firms that forces them to favour conservatism over practical considerations to avoid fines and penalties from the IRBA.
This makes them versatile tools in various fields such as education, customer service, and even creative writing. AI driven automation is expected to extend to more complex tasks such as, audits, risk management, and financial planning and analysis. For instance, could financial statements generated by ChatGPT withstand audit scrutiny?
A tech startup might start with basic financial software, but as it scales and perhaps looks for external investment, the CFO will need systems that support more detailed and sophisticated financial reporting, such as investor reporting and compliance with IFRS standards. Prioritise security and compliance to protect financial data.
Nicolaas emphasized CIBA’s role in supporting CFOs and finance professionals through education, resources, and a strong professional network. Key Highlights Dr. Suresh Kana’s Session : Dr. Kana discussed new developments around IFRS S1 and S2, focusing on sustainability-related disclosures.
CFOs will be expected to provide a robust ESG audit trail to boost investor confidence in the near future, including underlying assumptions, models, and a paper trail of the internal controls underpinning the information provided.
Today’s podcast is sponsored by Draftworx, which provides automated drafting and working paper financial software to more than 8000 accounting and auditing firms and corporations. Like IFRS I think there’s going to be some alignment of standards, I think there’s going to be more compliance.
It’s clear that African CFOs are highly focused on education and development, perhaps because there’s so much investment and growth happening in Africa. My name is Lawrence Nsibandze, and I began my career back in 2001 with the Price Hotel Group as an audit clerk. You’ve mentioned your strong auditing background.
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