Leaf Quality Systems, Author at Leaf Quality Systems (Pty) Ltd

2023-05-02T12:15:54+02:00

Applying Group Audit Principles ISA 600 (Revised) provides clear requirements on how to approach the audit of group financial statements. One may think that these requirements only apply to the audit of a group where consolidated financial statements are compiled, in terms of the relevant financial reporting framework. However, the scope of ISA 600 (Revised) goes beyond that, and there are different circumstances in practice where the principles of ISA 600 (Revised) may be applied. Sub-groups and branches ISA 600 (Revised), paragraphs 2 and 14(k), explains that group financial statements include the financial information of [...]

IFAC Releases New Implementation Tool for Auditors on Identifying and Assessing Risks of Material Misstatement

Leaf Quality Systems2023-02-22T08:46:38+02:00

IFAC Releases New Implementation Tool for Auditors on Identifying and Assessing Risks of Material Misstatement The International Federation of Accountants (IFAC) has released a new resource, The Risk Identification and Assessment Process: Tips on Implementing ISA 315 (Revised 2019), available by following the link: https://www.ifac.org/knowledge-gateway/supporting-international-standards/publications/risk-identification-and-assessment-process-tips-implementing-isa-315-revised-2019?utm_source=Main+List+New&utm_campaign=cdce03c774-IFAC-alert-315-tool&utm_medium=email&utm_term=0_-cdce03c774-%5BLIST_EMAIL_ID%5D The tool helps auditors with implementing the International Auditing and Assurance Standards Board’s ISA 315 (Revised 2019), Identifying and Assessing the Risks of Material Misstatement, effective for audits of financial statements for periods beginning on or after 15 December 2021. The resource is based on Chartered Professional Accountants of Canada’s Implementation Tool for Auditors, [...]

About Leaf Quality Systems

Title