Overview     

Independence is one of the fundamental principles prescribed by the professional ethical code. It is crucial that every accountant, auditor and independent reviewer follow this principle as it directly affects one's objectivity. 

While every professional wants to retain their clients for as long as possible, how does this long association affect the professional's independence? Section 92 of the Companies Act prescribes requirements for the rotation of auditors, while Section 540 of the IRBA Code prescribes requirements for the long association of personnel (including partner rotation). These sections have to be applied concurrently and consistently and IRBA has addressed apparent shortcomings in their recently published Ethics Staff Alert on this topic. IESBA have also published support material on long association – clearly this is an area that requires guidance!. 

In this webinar, technical expert Lettie Janse van Vuuren CA(SA) discusses independence, the effect that long client association has on it, and what you can do to reduce related threats. Join Lettie on 10 November 2022 from 10:00 a.m. to 12:00 p.m. as she unpacks this subject.  

Learning objectives  & competencies developed 

   By attending this webinar you will develop the following competencies:  

• Stay attentive to the fundamental principle of independence in all engagements as required by the ethical code.  

• Stay updated on the relevant legislation and regulations that guide all your professional engagements. 

• Review client associations and check and mitigate any threats to your independence. 

• Apply IRBA's suggested five-step approach to identify and assess threats to independence due to long association. 

• Have ready access to reference material that relates specifically to going concern in auditors' reports. 

Content   

   The webinar will cover the following topics:   

• The fundamental principle of independence. 

• Legislation - The basics and definitions. 

  • Section 92 of the Companies Act. 

  • Section 540 of the IRBA Code. 

  • Which provisions apply to which entities. 

• Identify threats to independence. 

• Address threats to independence. 

  • IRBA's 5-step approach. 

• Basics of audit rotation. 

• IFAC and IESBA resources. 

Obtaining your CPD certificate   

This training is compliant with the International Education Standard (IES7) issued by the International Federation of Accountants and recognised for CPD by relevant professional bodies including ACCA, CIMA, IAC, IIA, SAIBA, SAICA and SAIPA. 

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

About the presenter  

Lettie Janse van Vuuren CA(SA), RA  

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, CA(SA), BAP(SA), Professional Accountant (SA), FCCA, AGA(SA), BA(SA), and ACCA. 

• Registered auditors. 

• Independent reviewers. 

• Trainee accountants.   

Price               

• R 450.00 - Online admission - Individual. 

• Group Price 1 - R950 (maximum of 5 attendees) 

• Group Price 2 - R1 850 (maximum of 10 attendees) 

• Group Price 3 - R2 650 (maximum of 15 attendees) 

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;  

• Detailed course material; 

• Source documents for reference/resource library; and   

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