News Room2021-04-13T09:45:26+02:00
2112, 2021

Group audits 2 of 3 – Procedures Excluding Consolidation Procedure

By |December 21st, 2021|

Group audits 2 of 3 – Procedures Excluding Consolidation Procedure Group audits represent some of the most risky audits to undertake, as most public interest audits comprise the audit of groups of companies. However, the standards and audit principles relevant to group audits do not always receive the detailed attention they [...]

3011, 2021

Group Audits 1 of 3 ‒ Consolidations

By |November 30th, 2021|

Group Audits 1 of 3 ‒ Consolidations Group audits represent some of the most risky audits to undertake, as most public interest audits comprise the audit of groups of companies. However, the standards and audit principles relevant to group audits do not always receive the detailed attention they deserve. This article [...]

2910, 2021

Data Protection

By |October 29th, 2021|

Data Protection Since the onset of the Covid-19 pandemic, many auditors and their clients have been working remotely, resulting in much more client data being exchanged on technological platforms. Not all platforms are secure, which creates a greater threat of data security breaches. The damage caused by data breaches is unpredictable and audit firms may incur [...]

3007, 2021

The Impact of POPIA

By |July 30th, 2021|

The Impact of  POPIA The Protection of Personal Information Act, 2013 (Act No. 4 of 2013), otherwise known as POPIA, came into effect on 1 July 2020. Responsible parties were granted a grace period of 12 months to ensure compliance with POPIA by 30 June 2021. This means that responsible parties must be able [...]

3006, 2021

Audit of legal practitioners’ business accounts

By |June 30th, 2021|

Newsletter June Audit of legal practitioners’ business accounts Audit requirements relating to the business financial statements of legal practitioners practicing in companies have been clarified. In October 2019, the Companies and Intellectual Property Commission (CIPC) issued a notice of the withdrawal of the non-binding opinion pertaining to Regulation 28(2)(a) of the [...]

3105, 2021

Interest on legal practitioners trust accounts

By |May 31st, 2021|

Newsletter May Interest on legal practitioners trust accounts When performing assurance engagements on legal practitioners’ trust accounts, auditors must ensure that they are familiar with all legal and regulatory requirements. When auditors are not fully aware of the latest requirements, misstatements and instances of non-compliance may go undetected. A common area [...]

3004, 2021

Significant Risk Assessment

By |April 30th, 2021|

Newsletter April Significant Risk Assessment Risk assessment is a crucial step during any audit, and involves a great deal of judgment by the auditor, especially when it comes to determining which of the risks identified are significant. Many auditors grapple with this, and end up simply including the presumed significant risks [...]

3103, 2021

ISQM 1

By |March 31st, 2021|

Newsletter March 2021 - ISQM 1 Since the new quality management standards were issued in December 2020, they have been the topic of several communications on social media and other platforms. The main questions on everyone’s mind are: ‘What are the changes?’ ‘What do we need to do?’ and, ‘By when [...]

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