• The Audit, Accounting and Tax Division is registered with the Independent Regulatory Board of Auditors (IRBA) as well as with the South African Institute of Chartered Accountants (SAICA). Apart from the above we also have management registered with South African Institute for Business Accountants (SAIBA), South African Institute of Professional Accountants (SAIPA) and tax practitioners who are registered with their various bodies including the South African Institute of Tax Professionals (SAIT).
• The Financial Planning Services Division  is registered with the Financial Services Conduct Authority (FSCA). and assists clients with risk solutions and wealth creation. HDI Financial Services is an Authorised Financial Services Provider, FSP 10003.
• The IT Solutions Division is registered with Microsoft as a Microsoft Partner and provides clients with a 24-hour IT help desk and onsite support for all information technology solutions.

Contact Us

Telephone: 031 563 1259

Email: info@hdigroup.co.za

Address: 7 Canford Park, 53 Anthony Road, Durban North

By HDI Group
HDI Auditing Incorporated | HDI Accounting and Taxation Incorporated

What is Business Ethics?

By definition, business ethics refers to the standards for morally right and wrong conduct in business.

In today’s business environment amidst growing scrutiny of business practices, it’s more important than ever for companies to carry out work the right way. Business owners should never underestimate the link between business ethics and business success.

Why are good ethics so important to businesses?

Ethics Improves Your Business Reputation

The main reason why business should establish business ethics is to promote integrity among their employees and gain trust from key stakeholders, such as investors and most importantly from their customers and clients.

Business Ethics help you Retain Top Talent

Good ethics in business starts at the top. If you’re a business owner or manager, it’s important to lead by example. When employees see you make ethical choices, it lets them know that they can have confidence in the company; they know that you’ll do right by them and your customers. This boosts morale and as word spreads about how you treat employees well, you’ll draw in good workers. Having strong employee retention rates will help you save money over time on recruitment costs and training.

Limit Risk with Good Business Ethics

Businesses that practice good business ethics face less risk for fines and other legal trouble. Sure, the law and regulations are complicated, but a lot of trouble can be avoided just by doing what’s morally right. If business decisions are made with that in mind, you can save the stress of having to defend your company against lawsuits, fines and penalties.

Social and Ethics Committee, does my Company require one?

As we discussed above, a key emphasis has been placed on companies to consider their social, economic and environmental impact of their business activities on the societies in which they operate. As companies grow and become larger, their accountability to society increases which makes it more important for Companies to ensure that their operations are being effectively monitored in this regard.

What is the Companies Act requirements?

The Companies Act, No. 71 of 2008, as amended (“the Act”) prescribes that all state-owned companies, companies listed on the Johannesburg Stock Exchange and private companies, with a Public Interest Score above 500 in any two of the preceding five (5) years, must constitute a Social and Ethics Committee in accordance with Regulation 43 of the Companies Regulations.

Responsibilities of the Social and Ethics Committee

The Committee’s responsibilities include monitoring the company’s activities with regards to social and economic development, good corporate citizenship, environment, health and public safety, consumer relationships and labour and employment. In relation to identifying and evaluating corruption risks, the Committee should further ensure that the company implements a Corporate Compliance Programme in accordance with a practice note released by the Companies and Intellectual Property Commission (“CIPC”).

Composition of a Social and Ethics Committee

When constituting the committee, the membership must comprise of a minimum of three directors and/or prescribed officers of the company. One of these members must be a non-executive director who is not involved in the day-to-day management of the business or has been within the previous three financial years.

CIPC issued the guidelines on 19 November 2018 for Social and Ethics Committees that are required for certain entities, which can be found on the CIPC website: Guideline for Corporate Compliance

Whilst the Companies Act prescribes when a company should constitute a social and ethics committee it is in the best interest of a company to operate ethically no matter how big or small they are. Trustworthy companies are better at attracting and keeping customers and clients, talented employees, and capital which leads to success.

The HDI Group believes in the business principles of being Ethical, Honest, Patient and Straight Forward.

Contact Us

Telephone: 031 563 1259

Email: info@hdigroup.co.za

Address: 7 Canford Park, 53 Anthony Road, Durban North

By HDI Group
HDI Auditing Incorporated | HDI Accounting and Taxation Incorporated

As your business grows it is essential to have trusted financial, accounting and tax professionals managing your financial records and tax compliance as well as providing you and your business with strategic financial advice. After all, the busier you get, the more complex financial management becomes and the less time you will have to maintain your books and accounting records, not to mention all the while trying to make sense of all the data and worrying about your IT environment.

Through an integrated service environment, we minimize your risks and maximize opportunities, we call this the HDI Connected Intelligence. This strategic approach will give you or your business the advantage.

HDI Group – The Integrated Advantage

Driven by our commitment to delivering practical business solutions that businesses need to succeed, The HDI Group has become recognized as Durban’s leading independent business services solutions provider since our establishment in 1994. Informed by our business and industry knowledge and with a clear focus on client’s needs, we offer a range of fully integrated services in the areas of audit, Accounting, tax, statutory, consulting, financial advisory, wealth creation and information technology.

Audit, Accounting, Taxation

Going beyond merely meeting statutory requirements, HDI Auditing, Accounting and Tax empowers clients to perform better. We listen to our client’s needs, consider the implications and tailor our approach to realize the maximum benefit. Harel Davidson Incorporated provide audit assurance and consulting services to clients thereby improving their external financial reporting and complying to the relevant regulatory requirements. HDI Accounting and Taxation Incorporated and HDI Accounting Incorporated offers all other accounting, taxation, and statutory services, these services include Independent Reviews, Annual Financial Statements prepared in terms of the International Financial Reporting Standards (IFRS) and IFRS for SME’s and compilations. We also offer a full range of Secretarial and Administrative Services such as company registrations and amendments and CIPC annual returns.

Freeing clients up to focus on their core business, our accounting and payroll related services include data capture and bookkeeping, compilation and submission of Tax, VAT, PAYE, SDL, and workmen’s compensation. We advise and assist both corporate and individual clients in complying with all aspects of tax-related legislation and regulations in South Africa and best of all we deal with the South African Revenue Service, so you don’t have to!

The directors and management who head the Audit, Accounting and Tax division offer a wide range of knowledge, expertise, and experience, all are registered with their relevant professional bodies which include Independent Regulatory Board of Auditors, South African Institute of Chartered Accountants, South African Institute of Business Accountants, South African Institute of Professional Accountants as well as South African Institute of Tax Professionals.

Financial Services

For independent advice or a review of your existing portfolios, HDI Financial Services offer a host of the best financial planning solutions available in South Africa. These services include, life insurance, dread disease and disability cover, income protection and investments. Our approach considers Discovery, Hollard Life, Liberty, Momentum, Old Mutual, Sanlam, Sygnia, FMI and Allan Gray products to ensure clients enjoy only the best benefits of truly independent financial advice. Other services that HDI Financial Services offer includes, financial planning, group benefits, Investment, retirement and estate planning, Investment management, medical aid, and medical insurance.

IT Solutions

HDIT Solutions is a Microsoft Certified partner who supplies and implements hardware and software solutions across Durban and South Africa.  Our approach ensures that the risks associated with the deployment of new technology both hardware and software are reduced, while at the same time offering clients a competitive total cost of IT ownership and peace of mind that comes with having access to 24-hour backup. Our complete range of services includes, structured service level agreements, infrastructure project management, network design and implementation, hardware maintenance, disaster recovery, WAN services system integration, Microsoft select agreements and migration & 24-hour help-desk.

HDI Group – The smart way to grow your business

Contact Us

Telephone: 031 563 1259

Email: info@hdigroup.co.za

Address: 7 Canford Park, 53 Anthony Road, Durban North

By HDI Group
HDI Auditing Incorporated | HDI Accounting and Taxation Incorporated