Data Protection

2021-12-06T12:49:50+02:00

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 considerable losses in this regard. Audit firms should, therefore, take all the necessary steps to protect the data they process, including personal information processed, in terms of the Protection of Personal Information Act, 2013. Professional requirements The International Standard on Quality Control 1 (ISQC [...]

Data Protection2021-12-06T12:49:50+02:00

ISA 315 (Revised 2019) Webinar

2021-09-20T14:44:40+02:00

  Many auditors assume that ISA 315 (Revised 2019) is in most instances the same as the extant standard, but this is not the case. This new standard coming into effect for audits of financial statements for periods beginning on or after 15 December 2021 not only expands on existing concepts, but also introduces new changes in the risk assessment process. New concepts like “relevant assertions” and “significant classes of transactions, account balances or disclosures” changes the way auditors consider and respond to risk of material misstatement. It is critical for auditors to understand how risk assessment is treated [...]

ISA 315 (Revised 2019) Webinar2021-09-20T14:44:40+02:00

Auditing Intangible Assets Webinar

2021-08-13T11:09:19+02:00

    LEAF ‒ a team of audit specialists driving the standard of excellence Auditing intangible assets Have you burnt your fingers by not treating intangible assets correctly? Are you understanding and interpreting the requirements of the accounting framework appropriately? Have you succeeded in verifying the existence and valuation of these assets? We understand the challenge of thinking creatively when designing and performing audit procedures. Leaf’s team of specialists are at the ready to provide practical training in the key requirements relating to intangible assets, and how to implement them through discussion of practical examples. We offer training in [...]

Auditing Intangible Assets Webinar2021-08-13T11:09:19+02:00

Audit Induction Training 2021 – Managers Day 1

2021-08-20T10:24:11+02:00

To register click on the link below https://leaf.clickmeeting.com/audit-induction-training-managers-day-1/register   Audit induction training – Managers 2021 Duration: 16 hours (including breaks) 8 hours - Day 1 8 hours - Day 2 Overview: When registered candidate auditors are appointed as managers, their responsibilities expand to include those also expected from the partners. These responsibilities comprise more high-level communication with clients, risk assessment of client’s businesses, overseeing audit engagements and leading teams. This new phase in a lifelong learning journey may be navigated successfully with a solid base of key technical and professional skills, and guidance provided along the way. A thorough understanding of [...]

Audit Induction Training 2021 – Managers Day 12021-08-20T10:24:11+02:00

Financial Instruments – Audit Quality Webinar

2021-08-18T16:04:17+02:00

Financial instruments (with case study on ECL and estimates) Duration: 2 hours Overview: Auditors often overlook the importance of auditing financial instruments. Even common balances like cash and bank, accounts receivable, and accounts payable classify as financial instruments, and their classification, recognition, and measurement in terms of the accounting framework require appropriate audit procedures. IFRS has more complex disclosure requirements which require detailed attention. This webinar will give participants a practical understanding of key requirements relating to financial instruments, how to apply them during the audit and how to document everything in audit working papers. Participants will learn how [...]

Financial Instruments – Audit Quality Webinar2021-08-18T16:04:17+02:00

Auditing Inventory Webinar

2021-08-02T16:07:59+02:00

Auditing inventory Duration: 2 hours Overview: Auditors often overlook the importance of auditing inventory. Inventory is usually a material balance and requires more audit attention than merely performing an inventory count. Goods-in-transit may be incorrectly accounted for, inventory may be carried at an inappropriate value and the costing method may be incorrectly applied. Inventory may also be ceded as security in some instances. It is important to consider all relevant aspects to obtain sufficient, appropriate audit evidence for concluding on this balance. This webinar will give participants a practical understanding of key requirements relating to inventory, how to implement [...]

Auditing Inventory Webinar2021-08-02T16:07:59+02:00

Audit Induction Training 2021 – Managers Day 1

2021-07-13T08:40:22+02:00

Audit induction training – Managers 2021 Duration: 16 hours (including breaks)   Overview: When registered candidate auditors are appointed as managers, their responsibilities expand to include those also expected from the partners. These responsibilities comprise more high-level communication with clients, risk assessment of client’s businesses, overseeing audit engagements and leading teams. This new phase in a lifelong learning journey may be navigated successfully with a solid base of key technical and professional skills, and guidance provided along the way.   A thorough understanding of the relevant quality control, engagement quality and ethical requirements is needed to achieve a well-rounded combination of [...]

Audit Induction Training 2021 – Managers Day 12021-07-13T08:40:22+02:00

Audit of legal practitioners’ business accounts

2021-09-19T17:15:37+02:00

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 Companies Regulations 2011 to the Companies Act 2008. This opinion applied to legal practitioners who are registered as companies, in terms of the Companies Act, and considered whether the holding of assets in the legal practitioners’ trust accounts is regarded as part of the ordinary [...]

Audit of legal practitioners’ business accounts2021-09-19T17:15:37+02:00

Interest on legal practitioners trust accounts

2021-09-19T17:16:11+02:00

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 where this may occur is interest earned on trust accounts and paid over to the Legal Practitioners Fidelity Fund (LPFF). This article explains the requirements and what to look out for Types of trust accounts Legal practitioners may operate three different types of trust [...]

Interest on legal practitioners trust accounts2021-09-19T17:16:11+02:00

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