Revisions to the NAS Provisions of the Code

08 September 2022
Accounting
South African Accounting Academy

The revised NAS provisions contain substantive revisions that will enhance the International Independence Standards (IIS) by clarifying and addressing the circumstances in which firms and network firms may or may not provide a NAS to an audit or assurance client. The revised provisions include new requirements that expressly prohibit firms and network firms from providing certain types of NAS to their audit clients, especially when they are public interest entities (PIEs).

The revised NAS provisions replaces section 600 for audit and review engagements, and Section 950 for assurance engagements other than audit and review engagements.

Click here to access the SAAA alert on the IESBA FAQs re Revised Non-Assurance Services provisions of the Code (of 18 July 2022).

Click here to download the Revised SAICA Code of Conduct:

https://saicawebprstorage.blob.core.windows.net/uploads/resources/SAICA-Code-of-Professional-Conduct-Revised-2021.pdf

Relevance to Auditors, Independent Reviewers & Accountants:

As an accountant, auditor and independent reviewer, you need to be aware of and adhere to the Code of Conduct that your professional body publishes, as well as any revisions that may become effective.
All of these Codes are based on the IESBA Code of Conduct.

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https://accountingacademy.co.za/profession/monthly-legislation-update

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