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These include the Companies Act, the Tax Administration Act, the Financial Sector Regulation Act, and the International Financial Reporting Standards (IFRS), among others. Practical Example: A construction company aiming for a large government tender must ensure its B-BBEE compliance level is up-to-date and accurately reported.
To thrive in this evolving regulatory landscape, CFOs must expand their function’s operating models beyond financial statements and construct a more holistic view of their organisation’s sources of value — one that measures and monetises financial and nonfinancial capital. Clearly, CFOs and the finance function have a big role to play here.
RiskManagement: Identifying and mitigating ESG-related risks, which are increasingly recognized as indicators of potential business vulnerabilities. I once did a analysis of the IFRS Foundation’s budget. And then you can see the all the countries that contribute. And then Africa is not really featuring.
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