The KPMG Gupta scandal has revealed the serious engagement risk faced by accounting firms.

A lack of engagement quality control and failure to do proper client acceptance procedures has
cost KPMG a number of clients and huge public embarrassment.

Join Nicolaas van Wyk as he applies the recent KPMG case study to Independent Review
Engagements and the working papers that should be prepared in line with the relevant standards
and legislation.

Each delegate will receive free access to Independent Review Working Papers
and a template quality control manual.

Key learning outcomes

At the end of the seminar you will be able to:

• Understand the key requirements of the professional standards.
• Apply the standards to each phase of the engagement.
• Have practical tools to assist in such engagements.
• Know how to make engagements more effective and efficient.
• Understand the link between risks, controls and engagement approach.

Course content

• The purpose of engagement working papers.
• Overview of the review standard.
• Working papers linked to each section of the standard.
• Analysis of KPMG as a case study to identify short comings.
• The five key working papers that will keep you out of jail.
• Choice of reporting standards and which report to use and when: IFRS, IFRS for SMEs or entity specific framework.
• Using the PI Score to determine the engagement type.
• Critical information that must disclosed on the first page of financial statements.
• Who is responsible and liable for misstatements in the financial statements?
• Which standards to use when performing accounting officer, independent review or compilation engagements.
• When are financial statements fairly presented? What happens if they are not?
• New technologies to enhance your workflow.
• What to do as independent reviewer when your client doesn’t pay his tax.
• Recapping independent review duties – what should you do, what should you not do.
• Lead schedules and checklists to use.
• Engagement letters and type of reports to issue.
• Documenting assurance engagements.
• General principles of proper documentation for an engagement.
• Consolidate learning by working through a case study.

Presenter:

Nicolaas van Wyk

Nicolaas has extensive experience in management, strategy development, and project management and has developed numerous technical guides and presented on a number of technical accounting topics. He obtained his BCom in 1994 and his BCom Honours in 1995 from the University of Pretoria. In 2007 he completed his MBA through the Gordon Institute of Business Science.

He has drafted numerous submissions and papers on the financial reporting requirements in the Close Corporations and Companies Act, and has also presented a number of seminars on these topics. During the initial stages of the Companies Act reform, Nicolaas acted as the coordinator for the Department of Trade and Industry (dti) Working Group on Company Formation.

Nicolaas has been CEO of SAIBA since 2013.

Who should attend:

Join accountants and auditors just like you that want to update their independent review knowledge or are new to this type of engagement:

• Accountants
• Auditors
• Senior trainees and engagement team members

CPD

Attendance of the half-day seminar/webinar will accrue 4 hours’ CPD for members
of a relevant professional body such as ACCA, SAICA, AAT, SAIPA, SAIBA, IAC, CIS,
ICBA, LSSA, FPI, and the IBA.

Complete the free online assessment at the end of the event and receive an
additional 1 CPD hour.

Sponsors