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- Meditari : Research Journal of the School of Accounting Sciences
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- Volume 18, Issue 1, 2010
Meditari : Research Journal of the School of Accounting Sciences - Volume 18, Issue 1, 2010
Volume 18, Issue 1, 2010
Author D. CoetseeSource: Meditari : Research Journal of the School of Accounting Sciences 18, pp 1 –16 (2010)More Less
Accounting theorists agree that no comprehensive theory of accounting has yet been developed. In the absence of such a theory, the question arises whether sufficient accounting principles are created through accounting research. This article acknowledges that accounting principles are not solely the result of academic research and that current accounting practice through its standard-setting process contributes far more to the development of accounting principles. Hence the role that accounting theory and research should play in developing accounting principles is a vital academic question. The discussion in the article focuses on the normative and descriptive (or the more modern positivistic) approach to the development of accounting theory, the positivistic nature of mainstream accounting research, a possible decision-useful theory of accounting and the role of interpretative and critical research. All of these developments are beneficial to accounting since they open up accounting to a diversity of research approaches that will collectively improve the status of accounting research and possibly accounting theory. The role that these developments fulfil in creating appropriate accounting principles, however, is debatable.
Audit committee responsibilities vis-à-vis internal audit : how well do Top 40 FTSE/JSE-listed companies shape up?Source: Meditari : Research Journal of the School of Accounting Sciences 18, pp 17 –32 (2010)More Less
Effectively functioning audit committees have proven to fulfil a vital role in strengthening the role of internal audit. This article presents the results of a literature review that pinpoints six responsibilities that audit committees should perform in relation to internal audit. These responsibilities were tested as part of an empirical study focusing on the 40 largest companies listed on the JSE to determine the extent to which large listed companies in South Africa fulfil and disclose these responsibilities. The study consisted of an analysis of annual reports and a questionnaire administered to the chairs of audit committees. The study returned significant findings, including sound empirical evidence that the audit committees of the largest listed companies in South Africa are executing their responsibilities for internal audit effectively, but are performing more functions and responsibilities than those actually disclosed and reported on. While this apparent deficiency in disclosure may not affect the effective functioning of audit committees, it may influence perceptions about this effectiveness.
Author S.G. NienaberSource: Meditari : Research Journal of the School of Accounting Sciences 18, pp 33 –46 (2010)More Less
In an attempt to enhance the core professional values of tax practitioners in South Africa, the South African Revenue Service has proposed the regulation of tax practitioners' services. It is arguable whether or not this would be the only factor to influence the ethical behaviour of tax practitioners. A literature review was conducted to identify factors that could influence the ethical behaviour of tax practitioners. Numerous possibilities emerged. It is therefore recommended that if regulation is to be successful, caution should be exercised in writing a code of best practice for tax practitioners.
Author A.A. Van RooyenSource: Meditari : Research Journal of the School of Accounting Sciences 18, pp 47 –57 (2010)More Less
The University of South Africa (Unisa), as a distance education institution, is continuously challenged to lessen the negative impact distance has on students' learning. The effective use of technologies affords distance education institutions with valuable opportunities to enhance teaching and support students' learning. Using online technologies in the context of a developing country like South Africa often remains unrealised because of the persistent impact of lack of access, bandwidth and cost to students. Most students, however, have mobile phones, thus creating an ideal opportunity for distance education institutions to increase the effectiveness of learning. This article investigated students' responses to a pilot study aimed at integrating short message systems (SMSs) into the study experience of accounting students at Unisa. This research found that students overwhelmingly experienced this initiative not only as support but also more importantly as assistance to enable them to study more effectively. On the basis of the evidence provided, it is evident that using mobile technology can enhance the learning experience of accounting students and provide them with a more satisfying and successful experience.
Author E. Van WykSource: Meditari : Research Journal of the School of Accounting Sciences 18, pp 58 –75 (2010)More Less
Biodiversity conservation tax incentives were inserted into the Income Tax Act 58 of 1962 in terms of the Revenue Laws Amendment Act 60 of 2008 and are now contained in section 37C. The objectives of this study were to quantify the maximum potential revenue loss, to National Treasury, as a result of these tax incentives granted to landowners in the Western Cape; to identify and discuss alternative policy instruments to encourage conservation; and to investigate the perceptions of landowners in the Western Cape on the tax and alternative incentives available for conservation. The study found that the maximum tax revenue foregone should amount to a tiny percentage of total estimated revenue income for the 2008/2009 fiscal year, while projected future losses could also be insignificant. Landowners prefer direct financial incentives and exemption from property taxes, and contend that direct assistance with conservation activities would also be beneficial. The use of municipal value in the valuation of land would promote objectiveness and consistency. Finally, only a third of the landowners indicated that tax incentives would encourage them to commit more land for conservation.
Author T. VoogtSource: Meditari : Research Journal of the School of Accounting Sciences 18, pp 76 –92 (2010)More Less
The roles and responsibilities of the chief financial officer (hereafter CFO) have evolved dramatically over the past 10 years. This article explores this evolution from a South African perspective by, firstly, presenting an extensive literature review on the matter. Secondly, a unique South African model of the key focus areas for CFOs is proposed. Lastly, the results of a questionnaire administered to the CFOs of FTSE/JSE Top 40 companies are reported. The results revealed significant findings relating to the CFO's most important current and future role - that of planner and strategist. In addition, CFOs at the top of the corporate ladder expect to focus more on their role as a growth and innovation catalyst. This article also identifies three key areas for future research that will make an important contribution to the continued development of the educational framework for chartered accountants.