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So far LEAF Quality Systems (Pty) Ltd has created 174 blog entries.
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Proposed Due Process Policy serves Public Interest

2024-05-30T23:34:29+02:00

Proposed Due Process Policy serves Public Interest The Independent Regulatory Board for Auditors' (IRBA) Committee for Auditing Standards (CFAS) has approved the release of the Proposed Due Process Policy for the Development, Adoption and Issue of Quality Management, Auditing, Review, other Assurance and Related Services Pronouncements (Revised March 2024) in March 2024 on exposure, for public comment until 31 May 2024. This proposed policy serves the public interest by facilitating an understanding of the CFAS' objectives and operating procedures. Previously, the CFAS had issued an exposure draft with the same name (Revised November 2022), which was issued for exposure [...]

Proposed Due Process Policy serves Public Interest2024-05-30T23:34:29+02:00

The SAICA Code of Professional Conduct, 2023 Edition

2024-03-27T20:38:01+02:00

SAICA has published the 2023 edition of the SAICA Code on its website, available on: https://saicawebprstorage.blob.core.windows.net/uploads/SAICA-Code-of-Professional-Conduct-2023.pdf SAICA requests members and associates to remain up to date with the Code and to ensure compliance. The revisions to the Code relating to the Definition of Engagement Team and Group Audits became effective on 15 December 2023.

The SAICA Code of Professional Conduct, 2023 Edition2024-03-27T20:38:01+02:00

CIPC Enforcement of BO filing and Securities Register

2024-03-27T20:17:23+02:00

On 6 February 2024, the CIPC issued a follow-up notice (Notice 5 of 2024) to the one issued in September 2023 (Notice 53 of 2023). The CIPC implemented a beneficial ownership register from 1 April 2023, which became mandatory from 24 May 2023. All entities in the CIPC register need to have filed their beneficial ownership information by 24 May 2024. As of 1 April 2024, entities which have not complied with the beneficial ownership filing requirement will be prevented from filing their annual returns. The notice may be accessed on: https://saicawebprstorage.blob.core.windows.net/uploads/Beneficial-Ownership-Enforcement-Notice_2024.pdf

CIPC Enforcement of BO filing and Securities Register2024-03-27T20:17:23+02:00

Finalised Disciplinary and Investigation Matters

2024-02-14T13:50:18+02:00

Finalised Disciplinary and Investigation Matters In the latest issue of IRBA News, Issue 64, five finalised disciplinary matters and 24 finalised investigation matters were reported. The issue contains a more detailed analysis of these matters and may be accessed on the following link: https://www.irba.co.za/upload/IRBA%20News%20Issue%2064.pdf Recent Articles

Finalised Disciplinary and Investigation Matters2024-02-14T13:50:18+02:00

Notice of Withdrawal and Reissuance of Maximum Fines for Auditors guilty of Improper Conduct

2024-05-31T00:33:04+02:00

Notice of Withdrawal and Reissuance of Maximum Fines for Auditors guilty of Improper Conduct On 5 January 2024, the Minister of Finance gazetted a notice of withdrawal of the notice of maximum fines for improper conduct of registered auditors, issued on 15 June 2023, and issued a new maximum fine notice for a comment period of 30 days. This does not reverse the notice of maximum fines for improper conduct as promulgated by the Minister on 15 June 2023, which will remain applicable for improper conduct committed from 15 June 2023 until the adoption of the new notice for [...]

Notice of Withdrawal and Reissuance of Maximum Fines for Auditors guilty of Improper Conduct2024-05-31T00:33:04+02:00

Exposure Draft Approved

2024-01-30T15:16:37+02:00

Exposure Draft Approved The IRBA CFAS has approved, for issue, the Exposure Draft: Proposed Guide for Registered Auditors (Revised), Joint Audit Engagements (proposed Guide (Revised)), available on: https://www.irba.co.za/upload/Proposed%20Guide_Joint%20Audit%20Engagements%20(Revised%20XX%2020XX)(2).pdf The Exposure Draft (ED), which was approved in November 2023 for a 90-day period, provides guidance on the application of International Standards on Auditing and IRBA pronouncements when registered auditors or firms perform a joint audit engagement. Recent Articles

Exposure Draft Approved2024-01-30T15:16:37+02:00

FIC Issues Guidance on the Definition of Trust and Company Service Providers

2023-09-06T10:58:53+02:00

FIC Issues Guidance on the Definition of Trust and Company Service Providers FIC recently published public compliance communication 6A (PCC 6A), in response to the amended Schedule 1 to the FIC Act, contained in Government Gazette, No. 47596, of 29 November 2022, which came into effect on 19 December 2022. This communication provides guidance on the interpretation of Schedule 1, item 2 accountable institutions, namely trust company service providers. It is available on: https://www.fic.gov.za/Documents/PUBLIC%20COMPLIANCE%20COMMUNICATION%20No6A.pdf Recent Articles

FIC Issues Guidance on the Definition of Trust and Company Service Providers2023-09-06T10:58:53+02:00

Why Auditors in South Africa Deserve a Standing Ovation

2023-09-06T10:06:57+02:00

Your Content Goes Here If you've been tuned in to the business grapevine, you might've heard about the recent meeting of the International Forum of Independent Audit Regulators over in Washington DC. The gist? The auditing profession is facing challenges, with some students and auditors considering alternative career paths, due to pressures, costs, compliance, and negative press regarding a few high-profile blunders. But here's the silver lining: auditing still packs a punch as a career choice. Auditors are the backbone of trust and transparency in the business world. They're blending the trusted methods of traditional accounting with cutting-edge tools [...]

Why Auditors in South Africa Deserve a Standing Ovation2023-09-06T10:06:57+02:00

QM Standards Implementation Guides and Other Related Material 3

2023-08-31T10:59:55+02:00

QM Standards Implementation Guides and Other Related Material The IRBA recently reminded auditors of the available implementation resources concerning the IAASB suite of Quality Management (QM) standards, 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 At time of publication, these standards required firms to have a system of QM designed and implemented by 15 December 2022. Since the previous IRBA communication issued on 2 July 2021, QM implementation materials have been published for SAICA, IAASB and IFAC. In this Latest Update and the subsequent two, each institution is discussed individually. SAICA: +          SAICA TechTalk: The Quality Management Standards (held [...]

QM Standards Implementation Guides and Other Related Material 32023-08-31T10:59:55+02:00

QM Standards Implementation Guides and Other Related Material 2

2023-08-31T10:59:26+02:00

QM Standards Implementation Guides and Other Related Material 2 Since the previous IRBA communication issued on 2 July 2021, QM implementation materials have been published for SAICA, IAASB and IFAC. In this Latest Update, we discuss IFAC. International Federation of Accountants (IFAC): The IFAC developed and published a three-part series that provides tips and guidance for the practical implementation of the QM standards. +         Instalment One: It is time to Get Ready for the New Quality Management Standards, published on 31 October 2022, is available on: https://www.ifac.org/knowledge-gateway/supporting-international-standards/publications/quality-management-series-small-firm-implementation-installment-one +         Instalment Two: Developing a Detailed Implementation Plan, issued on 5 July 2023, [...]

QM Standards Implementation Guides and Other Related Material 22023-08-31T10:59:26+02:00
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