Reporting on Insolvencies - What the auditor & accountant should know - Webinar on demand
CPD Hours: 2
Price: R237.50
Reporting on Insolvencies - What the auditor & accountant should know - Webinar on demand
Presenters : Lettie Janse van Vuuren CA(SA)
Learning Objectives:
By the end of this event the participant should:
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Understand the difference between commercial insolvency vs factual insolvency;
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Know potential legal consequences arising with insolvencies;
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Understand the legislation and other legal references to insolvencies;
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Understand what to consider regarding clients' responses to factual solvency; and
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Know how to fulfil your obligations w.r.t reporting on insolvencies.
Content:
The webinar will cover the following topics:
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Background to insolvencies.
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Commercial vs Factual insolvency.
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Potential legal consequences.
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Legal references.
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Section 4 of the Companies Act – solvency and liquidity test.
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Relation of Sec 4 to CIPC Compliance Checklist.
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Section 22 of the Companies Act on Close Corporations.
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Section 129 of the Companies Act on financially distressed companies.
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Regulation 29 of the Companies Act.
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Auditing and review standards.
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Close Corporations Act.
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Client responses to factual insolvency and your consideration.
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Subordination agreements.
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Letters of support.
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Guarantees.
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Reporting on insolvencies – how, when and to whom?
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Bonus Documents.
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Subordination agreements format and checklist.
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Possible reportable irregularity working paper template.
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