Johannesburg, South Africa 18 April 2024: The annual Deloitte Africa Restructuring Survey reinforces the importance of effective governance and robust financial controls to ensure business distress is detected early enough to take the necessary steps to protect or salvage the organisation.
These governance and financial controls become increasingly important in the context of the recent Statistics South Africa Statistics (Stats SA) data, which indicated a rise in company closures, with liquidations increasing by 34.6% (or 109 businesses) in January 2024, as compared to the same period the previous year. Industries impacted included financing, insurance, real estate, and hospitality sectors.
Jo Mitchell-Marais, Africa Turnaround & Restr…
Read the full article at: https://www.deloitte.com/za/en/about/press-room/restructuring-survey-Businesses-need-stronger-governance-and-financial-controls.html