IRBA Findings: 2022 Public Inspections Report
Presenters : Lettie Janse van Vuuren CA(SA)
Overview
IRBA released their brand new 2022 Public Inspections Report on 17 March 2023. The report which reveals recurring quality deficiency themes identified in the 1st year of their 8th Inspections Cycle, carries the theme: With a Commitment to Promote Improvement and Remediation of Audit Quality.
Registered auditors (including independent reviewers) need to apply the contents of the latest IRBA Inspections Report in their practices as they make their quality control processes more robust. By knowing mistakes that were made by other practices, firms and their assurance staff take measures to prevent the occurrence of the identified deficiencies within their own practices.
Learning objectives
Attending this webinar will equip you with the following skills:
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Be up to date with the findings of the latest IRBA Public Inspections Report.
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Have a practical understanding of IRBA's minimum audit quality expectations.
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Possess knowledge of basic requirements relating to the remedial action process, including root cause analysis.
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Develop the skill to identify similar shortcomings within your own practice and apply the remedial action process.
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Have the competence to implement good practices within your firm through informed assurance staff.
Content
The webinar will cover the following topics:
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Looking at IRBA's latest inspections results.
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What is IRBA's 5 Whys Root Cause Analysis Tool?
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How to use IRBA's 5 Whys Root Cause Analysis Tool.
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Good practices and information technology.
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Which deficiencies should I avoid within my practice?
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Implementing recommendations made by IRBA.
