Overview 

The Companies Act, No 71 of 2008 changed the landscape of regulation and compliance with respect to the auditing of companies.  In 2011, the Companies Act as amended, introduced an alternative level of assurance – the independent review.

Independent review engagements are a less onerous alternative to a full audit. They however offer more assurance than compilations and accounting officer's reports. This webinar is aimed at clarifying what an independent review is, what it aims to achieve, as well as highlighting how it differs from other engagements.

Join Caryn Maitland CA(SA) on 28 April 2020 from 09:00 a.m. to 11:00 a.m. as she gives you the when, the what and the be who of independent review engagements.

Learning objectives

By the end of this event the participant will:

• Understand what an independent review is;
• Understand the requirements of the Companies Act;
• Understand how to determine if a company qualifies for an independent review;
• Know who can perform an independent review; and
• Know how to perform an independent review.

Content

The webinar will cover the following topics:

• Authority to conduct an independent review:
  • What is an Independent Review?
  • Requirements of the Companies Act.
  • Calculation of the Public Interest Score.
  • Who can perform and Independent Review?
  • Compilation vs Independent Review.
• Pre-Engagement and Planning:
  •  Pre-conditions and accepting the engagement.
  • Engagement letter.
  • Ethical requirements.
  • Professional scepticism and professional judgement.
  • Preliminary analytical review.
  • Areas that are likely to be misstated.
  • Documentation requirements.
• Performing the review for all financial statement areas:
  • Focused enquiries.
  • Additional procedures.
  • Reconciling financial statements to underlying records.
  • Related parties.
  • Fraud and non-compliance with laws and regulations.
  • Presentation and Disclosure.
• Finalisation and reporting:
  • Overall analytical review.
  • Evaluation of misstatements.
  • Letter of representation and management letter.
  • Reporting in terms of regulation 29 (RI).
  • Modified/Unmodified conclusion.

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

Caryn Maitland CA(SA)

Caryn Maitland is a Chartered Accountant (SA). She has been a member of IRBA as a registered auditor and accountant since 2002 and is also a registered member of SAICA.

Caryn has lectured Auditing and Accounting at various institutions and has conducted independent workshops and seminars for professional accountants since 2006 on various topics.

Caryn has presented on the national tour for the annual Legislation Update with ProBeta Training (Pty) Ltd in 2014 and 2015, as well as on the FASSET national tour for the Tax Administration Act in 2014.  She is also involved with the annual SAICA SMP Technical tour.

Who should attend

The following persons will benefit from attending this webinar:

• Professional Accountants including: RA(SA), CA(SA),PA(SA) and BAP(SA);
• Accounting officers;
• Trainee accountants; and
• Accounting department staff.

Price            

• R 475.00 - Online admission - Individual.
• R 950.00 - Online admission - Company.
• R 0.00 - All paid SAAA CPD subscribers.

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.