Performing Independent Reviews
Presenters : Monja van Zyl CA(SA)
Overview
Independent reviews are voluntary limited assurance engagements that are optional to audits for certain business entities. Close corporations, schools, trusts, partnerships and sole proprietorships can opt for this less onerous and less costly type of engagement.
Determining whether to perform a full audit or an independent review mainly depends on the Public Interest Score (PIS) of the entity. This means that an entity that scores below the PIS threshold is not obliged to have an annual audit.
Learning objectives
By attending this webinar you will gain the following competencies:
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Have a broad understanding of the different types of assurance and other related services engagements.
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Have updated knowledge of the international standard and legislation on independent reviews.
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Establish how to determine whether a business should be audited or have an independent review performed on its financial statements.
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Know how to accept, perform, and report an independent review engagement.
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Setting up and establishing a system of quality control for your independent review engagements.
Content
The webinar will cover the following topics:
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Differentiating the various engagements.
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ISRE2400 (Revised) - Engagement to Review Financial Statements.
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SAAPS3 (Revised May 2019) Illustrative reports.
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Companies Act 71 of 2008.
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Calculating the (PIS) threshold.
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How to obtain the independent reviewer licence.
