Webinars On-Demand

Independent Reviews & Financial Reporting Part 2

Overview 

This session builds on the foundation established in Part 1. It provides accountants and compilers of financial statements with a comprehensive understanding of the essential aspects of financial reporting, including the most appropriate framework for the preparation and presentation of financial statements. Attendees will also explore regulatory requirements and gain guidance on interpreting key financial disclosures in compliance with ISRE 2400. 

Join Lettie Janse van Vuuren CA(SA) for practical considerations in the real-world application of financial reporting principles.  

Learning objectives 

Attending this webinar will equip you with the following skills:  

• Differentiate between financial reporting and compilations in terms of process, objectives and outcomes. 

• Gain an awareness of the key regulatory requirements set out in the Companies Act and regulations that govern financial reporting. 

• Recognise how IFRS and IFRS for SMEs differ in scope, complexity and reporting requirements. 

• Know the roles and responsibilities of management and compilers.  

• Learn basic techniques to analyse and interpret financial statements.   

Content 

The webinar will cover the following topics:   

• Introduction: 

  • Where did we stop with Part 1? 

  • Financial reporting VS Compilations. 

• Identifying key regulatory requirements governing financial reporting: Companies Act 

  • Section 29 Financial Statements. 

  • Section 30 Annual Financial Statements. 

  • Regulation 28 – Financial Reporting Framework. 

  • Calculating the Public Interest Score, including concepts of “owner-managed”. 

• IFRS vs IFRS for SMEs. 

  • Basic differences. 

  • Preparation and presentation of financial statements. 

  • Financial Reporting Framework. 

  • Recognising the responsibilities of management and compilers. 

  • Ethical considerations in financial reporting. 

• Analysing the financial statements. 

  • Users of the financial information. 

  • Financial position. 

  • Financial performance. 

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