Sectional title property in South Africa: an accounting and auditing perspective
| dc.contributor.advisor | Lubbe, D. S. | |
| dc.contributor.author | Lubbe, Leandi | |
| dc.date.accessioned | 2016-11-21T06:28:58Z | |
| dc.date.available | 2016-11-21T06:28:58Z | |
| dc.date.issued | 2013-01 | |
| dc.description.abstract | English: This study was undertaken against the background of the current housing problem in South Africa. Sectional titles play an important role in addressing this challenge, which is a high priority problem in the country. Very little research has so far been done on the South African sectional title industry from an accounting and auditing perspective. Furthermore, legislation in this regard is often contradictory and confusing. In addition, pressure regarding costs such as audit fees and management fees from owners of sectional title units bring about unique challenges and problems for the industry. These aspects do, however, provide ample opportunity for research. The first main aim of this study was an overview of practical problems experienced from an accounting and auditing perspective regarding risks associated with sectional titles, auditing-specific problems relating to sectional title and accounting-specific problems relating to sectional title. The second, two-fold aim of the study was to find possible solutions to the above-mentioned problems and to make recommendations in this regard. The third aim of the study was to set industry benchmarks by way of analysis and interpretation of a sample of annual financial statements of sectional title schemes over a three year period. These benchmarks can be of assistance as an industry standard for owners, trustees, managing agents, auditors and accountants rendering a professional service within the sectional title industry. The literature review of this study covered three main aspects in respect of sectional title schemes, namely legal aspects relating to accounting and auditing matters of sectional title schemes, auditing and assurance aspects and accounting and reporting aspects. The literature review paved the way for a detailed analysis of the auditing and accounting aspects relating to the sample of body corporate financial statements and an empirical study performed on the sectional title industry in South Africa by way of interviewing a sample of role players in the industry. The results of the empirical study and data analysis revealed a great number of contradictory and confusing legal aspects as well as uncertainties in the industry. Various problems and concerns were addressed and practical recommendations were made of which the industry should take note. The empirical findings can also be used as a valuable basis for further research. | en_ZA |
| dc.description.abstract | Afrikaans: Hierdie studie is onderneem teen die agtergrond van die heersende behuisingsvraagstuk in Suid-Afrika. Deeltitels speel ’n baie belangrike rol om hierdie hoë-prioriteit uitdaging aan te pak. Daar is nog baie min navorsing gedoen oor die Suid-Afrikaanse deeltitel-industrie, spesifiek vanuit ’n rekeningkundige en ouditkundige perspektief. Verder bestaan daar baie teenstrydige en verwarrende wetgewing oor hierdie industrie. Kostedruk deur eienaars van deeltiteleenhede op onder meer ouditen bestuursfooie bied verder eiesoortige uitdagings en probleme vir die industrie. Hierdie aspekte bied egter baie geleenthede vir navorsing. Die hoofdoel van hierdie studie was ’n oorsig oor die praktiese probleme wat vanuit ‘n rekeningkundige en ouditkundige perspektief ondervind word ten opsigte van die risiko’s wat met deeltitels geassosieer word, sowel as rekeningkundige en ouditkundige probleme wat met deeltitels verband hou. Tweedens is oplossings vir bogenoemde probleme en aanbevelings ten doel gestel. Derdens was dit ‘n mikpunt om riglyne daar te stel na aanleiding van die ontleding en vertolking van ’n steekproef finansiële jaarstate van deeltiteleiendom wat oor ‘n drie-jaar tydperk gedoen is. Hierdie riglyne kan as ’n moontlike industrie-standaard dien vir eienaars, trustees, bestuursagente, en ouditeure en rekenmeesters wat professionele dienste aan die deeltitel-industrie lewer. Die literatuuroorsig van die studie fokus op drie hoofaspekte aangaande deelititelskemas, naamlik, regsaspekte rakende rekeningkundige en ouditkundige kwessies, ouditkundige- en gerusstellingsaspekte en rekeningkundige- en verslagdoenings-aspekte. Die literatuuroorsig baan die weg vir ’n uitvoerige ontleding van die ouditkundige en rekeningkundige aspekte van ‘n steekproef finansiële jaarstate asook ’n empiriese studie gedoen oor die deeltitel-industrie in Suid-Afrika deur middel van onderhoude wat gevoer is met ‘n steekproef rolspelers in die industrie. Die resultate van die empiriese studie en data-ontleding onthul verskeie teenstrydige en verwarrende regsaspekte en onsekerhede in die industrie. Verskeie probleme en kommerwekkende aangeleenthede is aangespreek en praktiese aanbevelings is gemaak waarvan die industrie kennis behoort te neem. Die empiriese gevolgtrekkings kan ook gebruik word as ‘n waardevolle grondslag vir verdere navorsing. | af |
| dc.identifier.uri | http://hdl.handle.net/11660/4697 | |
| dc.language.iso | en | en_ZA |
| dc.publisher | University of the Free State | en_ZA |
| dc.rights.holder | University of the Free State | en_ZA |
| dc.subject | Sectional title | en_ZA |
| dc.subject | Sectional title management | en_ZA |
| dc.subject | Accounting | en_ZA |
| dc.subject | Auditing | en_ZA |
| dc.subject | Sectional titles act | en_ZA |
| dc.subject | Participation quota | en_ZA |
| dc.subject | Financial statements of sectional title schemes | en_ZA |
| dc.subject | Audit reports of sectional title schemes | en_ZA |
| dc.subject | Sectional title budgets | en_ZA |
| dc.subject | Auditing profession | en_ZA |
| dc.subject | Accounting profession | en_ZA |
| dc.subject | Dissertation (M.Acc. (Auditing))--University of the Free State, 2013 | en_ZA |
| dc.title | Sectional title property in South Africa: an accounting and auditing perspective | en_ZA |
| dc.type | Dissertation | en_ZA |