South African auditors call for AIDS disclosure
South African accountants are urging companies to recognise the impact of the country's high AIDS infection rate on their balance sheets.
As many as 20% of the South African working population is believed to be infected with the HIV virus, which causes AIDS.
Graham Terry, vice-president of the South African Institute of Chartered Accountants, told the BBC online: ‘We need to give shareholders an idea of what impact the disease is having on their companies.’
The SAICA hopes South African businesses will set an example by addressing the problem directly and in this way also ensure that companies are more compelled to help employees that are suffering from the disease.
Some of South Africa’s biggest companies including mining groups AngloGold and Gold Fields have already taken steps to assess the impact of AIDS in their financial reports, but the SAICA wants this to be adopted by all South African companies.