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October 12, 2005
Complex new accounting standards may lead to better structured BEE ...
Despite the complexity involved, the new International Financial Reporting Standards that came into effect this year are expected to provide greater transparency, comparability and consistency across the board...
According to Stephan van der Walt, associate at integrated equity and debt company Bravura, the new standards increase the complexity of structuring black economic empowerment (BEE) transactions. Considering the accounting impact of a BEE transaction by both the BEE shareholders and the company involved has become as important as considering the various tax, legislative, regulatory and commercial requirements.
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Posted by bernievn at October 12, 2005 2:35 PM