COVID-19 and Directors: Your Duties and Liabilities in the Coronavirus Crisis • Managing your Staff Working from Home • How Different Will Our Landscape Be Post-Coronavirus? • Be Ready for a SARS Lifestyle Audit • MGI International Webinars • Tax Deadlines for May


COVID-19 and Directors: Your Duties and Liabilities in the Coronavirus Crisis

Your focus as a director right now will no doubt be on keeping your business afloat through these trying times.

Don't lose sight however of the fact that the onerous obligations and duties placed on all directors by the Companies Act still apply. Failure to live up to the required standards exposes you not only to a significant risk of personal liability for company debt, but also to criminal prosecution.

We recap in summary what the Act requires of you, we discuss the impact of King IV on your risk profile, and we end off with a caution on the extent to which you can rely on indemnity insurance for cover.


Managing your Staff Working from Home

One of our new realities in this topsy-turvy world of global crisis is the many businesses that have had to close their offices and work remotely.

The resultant explosion in the number of people working from their home environments brings with it many serious challenges for businesses. Fortunately, however, there is a lot of guidance available on how to maintain high levels of morale, loyalty and productivity amongst your work-from-home employees.

For example, researchers at Harvard University have identified five main areas as key to achieving the best possible results from a remote working situation. Read on for some thoughts on them.


How Different Will Our Landscape Be Post-Coronavirus?

Predicting the future can never be easy, but we all need to prepare as best we can for the future landscape that will greet us when the current COVID-19 crisis is finally over.

Perhaps we can learn a lesson or two from the history of the world's past global pandemics and their after-effects on people, societies, and economies.

With that in mind, commentators have suggested four main trends which they think likely to characterise our post-coronavirus world.

"Forewarned is forearmed" - let's have a look at them.


Be Ready for a SARS Lifestyle Audit

Being suddenly subjected to a SARS "Lifestyle Audit" is a nerve wracking business with the risk of penalties of up to 200%, backdated interest, and criminal prosecution .

What external sources of information does SARS have access to? How does SARS select targets for lifestyle audit? If you are unlucky enough to be selected, what will happen and how can you be prepared? Can you refuse to co-operate and/or demand access to information from SARS before complying?

We address those questions and discuss a High Court decision in which an individual faced
the imprisonment for failing to answer a lifestyle questionnaire.


MGI International Webinars

A s a member firm of MGI International, we have access to a schedule of informative webinars and events for the benefit of our business as well as that of our clients'.

Don't miss out on the opportunity to join upcoming webinars covering relevant topics by renowned guest speakers and industry leaders or gain access to past recordings sharing international best practices.


17 th Floor, No. 1 Thibault Square, 1 Long Street, Cape Town, 8001

MGI Worldwide is a network of independent audit, tax, accounting and consulting firms.


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