Overview    

IRBA released their latest Public Inspections Report which reveals recurring quality deficiency themes identified in the second year of their 7th Inspections Cycle. 

Registered auditors must apply the contents of the latest IRBA Inspections Report in their practice and quality control processes.  All attest and assurance staff must stay informed about mistakes made by other practices that have been inspected by IRBA and take measures to prevent the identified deficiencies within their own practice.  This includes Independent Reviewers because independent review is regarded as assurance work. 

Join our technical expert Lettie Janse van Vuuren CA(SA), RA, CBA(SA) on 16 March 2021 from 10:00 a.m. to 12:00 p.m. as she reviews the findings of this report from both a firm and file review engagement level. Lettie will also discuss the common trouble areas, risks and identify practical measures to safeguard your engagement working papers.  

Lettie has assisted numerous audit practices and auditors in preparation for IRBA inspections – both on firm level and individual engagement level.  She has also assisted in the formulation of the resulting Remedial Action Process, including the root-cause analysis and action plans. 

Learning objectives   

  By the end of this event the participant should:  

• Be aware of the contents of the IRBA Inspections Report, including: 

  • The findings - focus on recurring quality deficiencies; and 

  • Recommendations. 

• Be aware of the basic requirements relating to the remedial action process; 

• Be able to identify similar shortcomings within own practice; 

• Be aware of actions necessary to pass upcoming IRBA inspections; 

• Be able to inform audit/ other assurance staff on improvements and quality measures; and  

• Be able to adapt standardised working papers that address deficiencies identified in the report. 

Content  

  The webinar will cover the following topics:  

• IRBA Public Inspections Report - Analysis and summary: 

  • Objective. 

  • Background and focus areas. 

  • Overview of inspection results. 

  • Key inspection themes:  

    • Deficiencies found at firm level.  

    • Deficiencies found at engagement level. 

  • Remedial Action Process:  

    • Root cause analysis. 

    • Remedial action plan. 

  • Future outlook: What to expect next? 

Obtaining your CPD certificate  

This webinar qualifies for 2 CPD hours with your professional body including: ACCA, SAICA, AAT, SAIPA, SAIBA, IAC, CIS, ICBA, LSSA, FPI, and the IBA. The SAAA CPD policy is compliant with IFAC IES7 and is recognised by all relevant professional bodies.  

All attendees are issued with a CPD certificate available in an online profile.  

About the presenter 

Lettie Janse van Vuuren CA(SA), RA, CBA(SA)  

Lettie is a Chartered Accountant, Registered Auditor, as well as an Assessor and Moderator. She joined SA Accounting Academy in November 2017 as Head of Technical. As a professional trainer and webinar host, she is able to hold the attention of an audience with her relaxed and humorous presentation style.  She has a unique ability to communicate with delegates at their respective levels of knowledge and experience.  Over the last 20 years, she has trained thousands of partners, managers, trainee accountants and other professionals.  

She is responsible for researching, compiling and presenting our MCLU (Monthly Compliance and Legislation Updates). She was the Professional Development Manager at SAICA for 4 years and in charge of accrediting new training offices and monitoring existing ones (including the moderation of training offices and trainee assessments). 

 Who should attend?  

  The following persons will benefit from attending this webinar:  

• Professional accountants including: RA, CA(SA), PA(SA) and BAP(SA).  

• Independent reviewers.   

• Audit trainees. 

• Assurance support staff.  

Price              

• R 475.00 - Online admission - Individual. 

• R 950.00 - Online admission - Company. 

Steps to register for the event:  

If you already have a profile, login and register for the webinar. 

If you don’t have a profile, create a free profile then login and register for the webinar. 

Click here to create a free profile (There is no charge to create a profile and gain access to our free Monthly Practice Management Series). 

Click here to find out about the Technical Resource Centre & CPD Subscription options. 

Additional material 

  By attending this webinar you will be provided with: 

• Summarised slide presentation. 

• Reference documents and/or course material where available. 

• You can ask questions during the webinar and you will also have access to me the presenter after the webinar.