Drafting Financial Statements - Foundational Principles


CPD hours: 2 Hours

Price: R450.00

Video Type: Single

Presenter: Nestene Botha CA(SA)
CA(SA)
...

Drafting Financial Statements - Foundational Principles

CPD Hours: 2

Price: R450.00


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Title / Topic

Drafting Financial Statements - Foundational Principles

Presenters : Nestene Botha CA(SA)


Overview

Accounting professionals can greatly enhance their expertise by acquiring a thorough comprehension of diverse financial reporting frameworks, with a specific emphasis on ISRS 4410 Compilation Engagements, the stipulations of the Companies Act, and ethical considerations outlined in the SAICA Code of Conduct.

This understanding empowers them to adeptly implement these standards and principles in their professional activities, guaranteeing the precision, compliance, and ethical soundness of financial statement preparation. Such proficiency not only elevates the caliber and dependability of financial reporting but also fortifies the integrity and trustworthiness of the accounting profession in South Africa.

Join Nestene Botha CA(SA) in this 2-hour webinar as she unveils the fundamental principles and skills necessary for accurately drafting financial statements, with a specific focus on adhering to the South African Financial Reporting Standards.


Learning objectives

Attending this webinar will equip you with the following skills:

  • Understanding of International Standard on Related Services (ISRS) 4410 - Compilation Engagements and its application in compilation engagements, focusing on principles and practices for compiling financial statements.
  • Compliance with the South African Companies Act requirements related to the compilation of financial statements. 
  • Acquire knowledge of ethical considerations in financial reporting guided by the South African Institute of Chartered Accountants (SAICA) Code of Conduct with an emphasis on professional integrity and responsibility.
  • Gain a comparative understanding of how IFRS, IFRS for SMEs, and GRAP standards differ.
  • Knowledge of how to select the appropriate accounting framework for different scenarios and specific financial reporting needs.

Content

The webinar will cover the following topics: 

  • ISRS 4410 Compilation Engagements:
    • Overview of ISRS 4410
    • Principles of Compilation Engagements
    • Responsibilities under ISRS 4410
    • Documentation and Reporting Standards
  • Companies Act Requirements for Financial Statements:
    • Overview of South African Companies Act
    • Legal Requirements for Financial Statements Compilation
    • Compliance and Disclosure Obligations
    • Penalties for Non-Compliance
  • Ethical Considerations in Financial Reporting:
    • Introduction to the SAICA Code of Conduct
    • Ethical Standards for Accountants
    • Conflict of Interest and Confidentiality
    • Professional Conduct and Independence
  • Choosing the Right Accounting Framework:
    • Criteria for Framework Selection
    • Comparative Analysis of IFRS, IFRS for SMEs, and GRAP
    • Applicability and Scope of Different Frameworks
    • Transitioning Between Frameworks

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