2021 IRBA Public Inspections Report
Presenters : Lettie Janse van Vuuren CA(SA)
Overview
IRBA released their brand new 2021 Public Inspections Report which reveals recurring quality deficiency themes identified in the 3rd and final 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 too because an independent review is regarded as assurance work.
Learning objectives & competencies developed
Competencies developed in this CPD webinar:
-
Awareness of the 7th Inspection Cycle that has included.
-
Awareness of the new IRBA 5-year strategy.
-
Knowledge of the contents of the latest IRBA Inspections Report.
-
Knowledge of how to identify similar shortcomings in own practice.
-
Knowledge of how to pass upcoming IRBA inspections by improving and maintaining audit quality.
Content
The webinar will cover the following topics:
-
Introduction:
-
Reflection on the 7th Inspection cycle.
-
Overview of the new IRBA 5-year strategy.
-
-
The IRBA 2021 Public Inspections Report:
-
Findings and summary.
-
Overview of inspection results 2021.
-
Key inspection themes comprising deficiencies:
-
Firm-wide deficiencies.
-
Individual assurance engagement deficiencies.
-
-
Remedial Action Process:
-
Top 5 reportable deficiencies.
-
Remedial action plan.
-
-
-
Conclusion.
