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Learning and Development Newsletter – September 2023 CA Pathways to Relevance (CAPtR)

2023-09-28T12:27:02+02:00

Learning and Development Newsletter – September 2023 CA Pathways to Relevance (CAPtR) During May 2023, the World Economic Forum released an insight report on the Future of Jobs from 2023 to 2027. According to this report, there will be a great shift in skills and attitudes needed in the finance and accounting industry within the next couple of years. According to the organisations surveyed within the industry, the following top three types of training will be prioritised for future reskilling and upskilling: On-the-job training and coaching Internal training departments Licensed training from professional associations. The full report is available [...]

Learning and Development Newsletter – September 2023 CA Pathways to Relevance (CAPtR)2023-09-28T12:27:02+02:00

Trust, Corruption and Sustainable Development are Interconnected Issues in Public’s Attitude towards Tax

2023-09-28T12:22:13+02:00

Trust, Corruption and Sustainable Development are Interconnected Issues in Public’s Attitude towards Tax The Public Trust in Tax survey, which covered 7 700 members of the public across the globe, shows that accountants have a major role to play in addressing corruption. This negatively impacts on attitudes towards tax in economies across the globe. Results show that 53,8% consider corruption a major factor; however, most people believe professional accountants contribute to improving tax systems by making them more efficient (59%), more effective (57%), and fairer (55%). The findings follow the Association of Chartered Certified Accountants (ACCA), the International Federation [...]

Trust, Corruption and Sustainable Development are Interconnected Issues in Public’s Attitude towards Tax2023-09-28T12:22:13+02:00

IRBA Staff Audit Practice Alert 9: Guidance on the IRBA Rule on Enhanced Auditor Reporting for the Audit of Public Interest Entities

2023-09-28T12:18:23+02:00

IRBA Staff Audit Practice Alert 9: Guidance on the IRBA Rule on Enhanced Auditor Reporting for the Audit of Public Interest Entities The Independent Regulatory Board for Auditors (IRBA) Rule on Enhanced Auditor Reporting for the Audit of Financial Statements of Public Interest Entities (EAR Rule), was published on 15 September 2023 and is available on: https://www.irba.co.za/guidance-for-ras/general-guidance/enhanced-auditor-reporting-ear Complementary to this publication, Staff Audit Practice Alert 9, Guidance on the IRBA Rule on Enhanced Auditor Reporting for the Audit of Financial Statements of Public Interest Entities was published, and is available in PDF format on the IRBA website: https://www.irba.co.za/guidance-for-ras/technical-guidance-for-ras/staff-practice-alerts This publication has been prepared with the assistance [...]

IRBA Staff Audit Practice Alert 9: Guidance on the IRBA Rule on Enhanced Auditor Reporting for the Audit of Public Interest Entities2023-09-28T12:18:23+02:00

IFAC Supports ISSB Focus on Implementation of IFRS S1 and S2

2023-09-28T12:07:23+02:00

IFAC Supports ISSB Focus on Implementation of IFRS S1 and S2 IFAC has long supported the establishment of the International Sustainability Standards Board (ISSB) to develop a global baseline of sustainability disclosures – now endorsed by the International Organisation of Securities Commissions (IOSCO) and ready to be internationally adopted and implemented. High-quality implementation of IFRS (International Financial Reporting Standards) S1 and IFRS S2 is critical to the ISSB’s mission. For more information, follow: https://www.ifrs.org/groups/international-sustainability-standards-board/ ISSB is addressing ‘climate first’ with IFRS S2 and delivering IFRS S1 requirements for broader disclosure of investor-focused information about sustainability-related risks and opportunities. Next, companies [...]

IFAC Supports ISSB Focus on Implementation of IFRS S1 and S22023-09-28T12:07:23+02:00

QM Standards Implementation Guides and Other Related Material

2023-09-28T13:38:26+02:00

QM Standards Implementation Guides and Other Related Material Since the previous IRBA communication issued on 2 July 2021, QM implementation materials have been published for SAICA, IAASB and IFAC, available on the IRBA’s dedicated QM webpage: https://www.irba.co.za/guidance-for-ras/technical-guidance-for-ras/auditing-standards-and-guides/quality-management The IAASB materials are: +  First-time Implementation Guide for International Standard on Auditing (ISA) 220 (Revised), Quality Management for an Audit of Financial Statements (published on 17 February 2022) +   ISA 220 (Revised): Definition of an Engagement Team Fact Sheet (published on 2 May 2022) +   Fact Sheet on Quality Management and Group Audits: Highlighting Certain Aspects of Interaction between [...]

QM Standards Implementation Guides and Other Related Material2023-09-28T13:38:26+02:00

QM Standards Implementation Guides and Other Related Material

2023-09-26T13:22:39+02:00

QM Standards Implementation Guides and Other Related Material Since the previous IRBA communication issued on 2 July 2021, QM implementation materials have been published for SAICA, IAASB and IFAC, available on the IRBA’s dedicated QM webpage: https://www.irba.co.za/guidance-for-ras/technical-guidance-for-ras/auditing-standards-and-guides/quality-management The SAICA materials are: +  SAICA TechTalk: The Quality Management Standards (held on 11 November 2021) +   The Implementation of the Quality Management Standards by Small and Medium-sized Practices webinar (held on 26 August 2022) +   ISQM Service Providers for Small and Medium-sized Practices webinar (held on 23 November 2022) +   SAICA and PAFA ISQM workshops on The Implementation of [...]

QM Standards Implementation Guides and Other Related Material2023-09-26T13:22:39+02:00

IRBA Undertakes a Post-implementation Review of its SAAEPS 1

2023-09-21T12:57:11+02:00

IRBA Undertakes a Post-implementation Review of its SAAEPS 1 In the last quarter of 2023, the IRBA is embarking on a post-implementation review to inform and direct the discussions on sustainability assurance. In August 2018, the IRBA's Committee for Auditing Standards approved and issued SAAEPS 1, Sustainability Assurance Engagements: Rational Purpose, Appropriateness of Underlying Subject Matter and Suitability of Criteria (SAAEPS 1). SAAEPS 1 is available on PDF and Word on the IRBA website: https://www.irba.co.za/guidance-for-ras/technical-guidance-for-ras/other-assurance/assurance-on-sustainability-reports For any queries, email standards@irba.co.za Recent Articles

IRBA Undertakes a Post-implementation Review of its SAAEPS 12023-09-21T12:57:11+02:00

IESBA Publishes Interactive 2022 Annual Report

2023-09-19T13:16:45+02:00

IESBA Publishes Interactive 2022 Annual Report The IESBA has released its 2022 Annual Report, Reinforcing Ethics and the Public Interest in a Rapidly Evolving World, available on: https://www.ethicsboard.org/publications/2022-iesba-annual-report?utm_source=Main+List+New&utm_campaign=9c0bbb5a0b-EMAIL_CAMPAIGN_2023_07_31_10_57&utm_medium=email&utm_term=0_-9c0bbb5a0b-%5BLIST_EMAIL_ID%5D It presents a board in transition, aiming to further strengthen the Code. The 2022 IESBA Report features an overview of the Board’s extensive outreach efforts to stakeholders, and to promote global adoption, and effective implementation of the Code. Recent Articles

IESBA Publishes Interactive 2022 Annual Report2023-09-19T13:16:45+02:00

IFAC Emphasises Importance of Multilingual Materials

2023-09-14T13:01:31+02:00

IFAC Emphasises Importance of Multilingual Materials IFAC plays a vital role in driving the development, adoption, and implementation of transparent and high-quality international standards, used by professional accountants. The federation takes proactive steps to address access to translations in local languages by providing translation support and engaging with donors. The World Bank recently extended significant financial support to expanding accessibility of certain materials into Spanish and French. For more details, contact Michelle Brody on: MichelleBrody@ifac.org or permissions@ifac.org Recent Articles

IFAC Emphasises Importance of Multilingual Materials2023-09-14T13:01:31+02:00

The IASB issues amendments to IAS 21

2023-09-06T10:28:23+02:00

The IASB issues amendments to IAS 21 The IASB recently issued amendments to IAS 21, The Effects of Changes in Foreign Exchange Rates, effective for annual reporting periods beginning on or after 1 January 2025. For further information on the new requirements and their benefits, watch the webcast on: https://www.ifrs.org/projects/completed-projects/2023/lack-of-exchangeability-research/webcast-lack-of-exchangeability-amendments-to-ias-21/ The amendments will be consolidated into IAS 21 and IFRS 1 in March 2024, when they will be available for users with free website registration. Recent Articles

The IASB issues amendments to IAS 212023-09-06T10:28:23+02:00
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