Accounting for the tragic cost of AIDS
The cost of AIDS should be accounted for on corporate balance sheets, the South African Institute of Chartered Accountants has demanded.
The cost of AIDS should be accounted for on corporate balance sheets, the South African Institute of Chartered Accountants has demanded.
The country’s workforce has been hard hit by the AIDS crisis, with one in five workers infected with the HIV virus. The disease has led to the opening of homes for HIV-infected children like the one above near Johannesburg.
Graham Terry, vice president and executive director at the SAICA, told Accountancy Age that South Africa was a ‘relatively developed economy’ and the AIDS crisis was having a greater impact there than the rest of Africa.
He said: ‘AIDS is a big issue here – numbers are high, but many businesses are in denial. Business needs to be more aware of the impact of AIDS.’
The UK-based National Aids Trust backed for the initiative. NAT senior communications manager Suzanne Williams said: ‘NAT encourages companies to realise the true impact of the HIV epidemic and invites a role that companies have to play in addressing HIV and AIDS.’
The numbers you crunch tell a story. Your expertis...
22yEmbracing user-friendly AP systems can turn the tide, streamlining workflows, enhancing compliance, and opening doors to early payment discounts. Read...
View articleOrganisations can enhance their financial operations' efficiency, accuracy, and responsiveness by adopting platforms that offer them self-service cust...
View articleIn a world of instant results and automated workloads, the potential for AP to drive insights and transform results is enormous. But, if you’re still ...
View resourceDiscover how AP dashboards can transform your business by enhancing efficiency and accuracy in tracking key metrics, as revealed by the latest insight...
View articleThe Bank of England has appointed Ernst and Young LLP (EY) as its external auditor from the financial year ending 28 February 2025. Read More...
View articleThis follows an investigation into undisclosed personal loans and issues with an acquisition. Despite challenges, the company aims to achieve £1bn in ...
View articlePwC's decision to delay promotions in its graduate scheme, affecting around 100 graduates, is a response to reduced client demand and the aftermath of...
View articleTraditionally, audit schedules have been prepared manually, consuming significant time and resources. However, with the advancements in Artificial Int...
View articleThe FRC is promoting initiatives to foster a more competitive market, following recent high-profile accounting scandals. Read More...
View articleOn January 27, it was reported EY had quit as auditor to Asda amid one of its senior partners starting a romantic relationship with billionaire chief ...
View articleDespite the increased interest in AI and ML, only 12% of respondents indicate their organisations have adopted AI and ML within their audit functions....
View articleAs the government's independent investigation progresses, it is hoped that a clearer picture will emerge, leading to meaningful reforms within the aud...
View article