IFRS - there's nowhere to hide - Grant Thornton

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10 Volume 2. November 2005 "The system should contain a simple yet thorough process that when reviewed and reported on, should provide confirmation that a formal health and safety structure is in place." Depending on the type of workplace other safety responsibilities may be necessary, such as scaffolding safety, handling and storage of hazardous substances or managing contractors on site. Step 2: Assessment Regardless of the type of working environment, an assessment needs to take place where any possible risks to health and safety are identified. These risks could range from anything as simple as smooth steps in the stairwell to more extreme cases relating to the storage of hazardous waste or poisonous emissions. All identified risks need to be documented. Step 3: Risk management procedures For every risk identified, a procedure for managing that risk needs to be put into place. For the more minor risks, their related management procedures could be as simple as making people aware of the smooth steps through a sign erected in close proximity. Of course, more extreme risks would need a more detailed management plan. Again, all management procedures need to be documented. Step 4: Training In line with a system of implementation, compliance and awareness, all staff must be put through induction training. This type of awareness training must deal with the identified health and safety aspects in the workplace as well as regulatory requirements. Legislatively required responsibilities, such as safety representatives and first-aiders must formally be trained, certified and retrained at legally determined intervals set by the law. Anton Barnard The systems must involve the workforce at all levels and provide the necessary assistance to ensure that potentially hazardous job related functions are carried out safely and in accordance with the law. It is essential that the system provides documented means to substantiate that the Chief Executive Officer, in accordance with his assignment, has taken reasonable action in the event of litigation as well as the results of that action.
Volume 2. November 2005 11 Hot off the press… ...some of our latest publications aimed to assist you in the various aspects of running your business. A guide to establishing a presence in South Africa… … is a handy reference outlining the most important facts to know when investing in South Africa. The publication provides information on South African taxation, investment incentives and exchange control and outlines the requirements for work and residential visa applications. A gu i de to es ta bli sh in g a presence i n Sou th Af ric. a .. Establishing a presence in South Africa also provides the information necessary for any business wanting to use South Africa as a springboard into Africa. The effective director's handbook Now that corporate governance is a business imperative, the duties and responsibilities of directors as well as their associated personal liability have never been greater. Directors need to possess sound business, legal and financial skills and the effective directors guide, produced in conjunction with Edward Nathan, is intended to highlight areas of concern in all three spheres. Where appropriate, recommendations of the King II report on corporate governance for South Africa (2002) have been incorporated. The guide also includes a series of key questions that directors may use to determine how effectively they are giving direction to their companies. The first Fiscal File update Our Fiscal File, published jointly with Edward Nathan, outlines important tax, financial and exchange control information and is updated as the tax legislation changes. Because the legislation is a moving target, we now produce the Fiscal File as an A5 ring binder that allows us to supply replacement updates in looseleaf format when necessary. Our first loose-leaf update, which covers legislation promulgated earlier this year, has been printed. If you received the original product but have not yet received the update, please advise Grant Thornton Marketing. To receive a copy of any of these products, please contact Nicole Dudley at Grant Thornton Marketing on (011) 322 4701 or ndudley@gt.co.za
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IFRS - there's nowhere to hide - Grant Thornton

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