On 5 July 2012 the South African National Treasury released its draft Taxation Laws Amendment Bill, which included the proposed insertion of section 24JB into the Income Tax Act. The proposed section will require all banks, company members of the JSE Securities Exchange (stockbrokers) and hedge...

Research findings on the role of fair value accounting (FVA) in the global financial crisis can be interpreted to find that FVA is not applied neutrally by banks. The results of FVA are accepted when they contribute to higher profits and are actively resisted when they lead to losses. The aim of...