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Lexis Nexis News

Accountability in public procurement lies ahead

3rd September 2015 South African government entities are taking responsibility for fraudulent practices within their operations and while the process has been slow but steady, the crackdown is aimed at restoring public trust, reviving reputations and cutting costs.  On 1 April 2015 the Office of the Chief... 

High unemployment rate makes verifying work history extra important

31st August 2015 South Africa’s unemployment rate is at 25 percent according to the most recent figures from Statistics SA. As the cost of living goes up, so too does the anxious demand for employment. With an estimated 5.2 million people of employable age, many run the unfortunate risk of resorting to being... 

Best recruitment practices for small businesses

12th August 2015 Employees are a company’s most valuable assets, regardless of its size. However, if unsuitable or unscrupulous employees are hired, they can also be the biggest liability. This is especially true for small businesses. While larger businesses often have the capacity to absorb the impacts of... 

Keep abreast of legal changes

11th August 2015 Every business will face potential prosecution for not being compliant with the law. Non-compliant companies face risks including penalties imposed on the business and executives, jail time, negative publicity, operational suspension, decreased productivity and increased liabilities. Legally... 

Social networking at the workplace

28th July 2015 Technology has changed the way people communicate with each other, how they stay abreast of developments and share information and how they do business.Social networking platforms like Facebook, MySpace, Twitter and Linkedin have grown phenomenally and many employees maintain an almost permanent... 

Company transactions and directors’ obligation to apply the solvency and liquidity test

22nd July 2015 It is a mandatory, strict requirement for directors to apply a set solvency and liquidity test to the companies in their control when making certain decisions. This is prescribed by the Companies Act 71 of 2008 (the Act). Why is it referred to as a 'strict requirement' and why are banks, lawyers... 
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