NEWS
Holborn Assets opens new office in
Johannesburg, South Africa
olborn Assets has opened an office in Johannesburg and
recruited an eight-strong team of specialist advisers as it
continues a major global strategic expansion during 2018. H “Our expertise is in helping high net worth (HNW) individuals and
corporates in structuring their assets and investments in the most
financially efficient and productive ways,” said Reichert.
The new office is led by Lourens Reichert, who will focus on
providing specialist financial planning strategies and solutions to
high net worth South African residents who hold assets overseas or
who invest internationally. “There’s a growing need for expert financial advice in this area as
greater numbers of South African residents are investing offshore or
holding overseas assets, creating more demand for a wide range of
financial planning solutions to maximise growth potential in a tax
efficient way.
“This sector is becoming an increasingly important part of
HNW wealth planning in South Africa and my team is the most
experienced one in this field in the country.”
Reichert spent more than 10 years working in London, in asset-
backed lending, before returning to South Africa to focus on private
wealth, taxation and estate planning.
There is a growing
need for expert
financial advice in
South Africa
Bob Parker, Holborn Assets CEO and founder, said: “South Africa
is full of potential. There’s an enormous amount of capital held
by residents outside of the country and Lourens and his team are
experts in advising clients on how to manage that for maximum
growth and efficiency. We’re delighted to welcome them to
Holborn Assets.”
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CaseWare Africa launches modified cash template
C
aseWare Africa, a division of AdaptIT,
has launched a template for the
modified cash standard. It was developed by
the Office of the Auditor General in National
Treasury to mandate the principles by which
national and provincial departments should
present their financial accounts.
“The key benefit of CaseWare’s templates is
that they automate the onerous process of
compiling financial statements in a prescribed
format,” said Stephan van der Merwe, Product
Manager at CaseWare Africa. “This new
template will allow national and provincial
departments to produce statements that
comply with the guidelines issued by National
Treasury with the minimum of extra work, and
with increased accuracy.”
The template can be set up to draw the
necessary data from the state’s central
accounting system, Basic Accounting
System (BAS), as well as the management
information system, Vulindlela. This
information is used to populate Microsoft
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INTELLIGENTCIO
Word and Excel reports automatically from
a single basic data source, eliminating the
challenge of version control. If trial balances
are updated during the process of creating
the financial statements, it is easy to re-import
the data into the Excel or Word reports.
“The modified cash template is extremely
rigorous in its demands and there is little
room for interpretation,” added van der
Merwe. “By reducing human intervention and
maximising automation, the process can be
made much more accurate while increasing
speed. Departments can now provide National
Treasury with reports in the required formats
with minimal effort, while still supporting the
drive towards more efficient, transparent
management of taxpayers’ money.”
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