Risk assessment Archives - Leaf Quality Systems (Pty) Ltd

New ISSA 5000 Webinar Series for Sustainability Assurance Engagements
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New ISSA 5000 Webinar Series for Sustainability Assurance Engagements

Leaf Quality Systems2025-08-28T17:46:08+02:00

LATEST UPDATE New ISSA 5000 Webinar Series for Sustainability Assurance Engagements The International Auditing and Assurance Standards Board is hosting a three-part global webinar series designed to assist sustainability assurance practitioners, firms, jurisdictional standard setters, and professional organisations as they adopt, implement, or apply International Standard on Sustainability Assurance (ISSA) 5000, General Requirements for Sustainability Assurance Engagements (ISSA 5000), available on: www.iaasb.org/focus-areas/understanding-international-standard-sustainability-assurance This series, ISSA 5000 in Focus, is available on: www.iaasb.org/events/issa-5000-focus-webinar-series-sustainability-assurance-engagements Each webinar includes an explanation of ISSA 5000 requirements with practical implementation insights, real-world examples, and solutions to common challenges. Webinar #1: Foundational [...]

New ISSA 5000 Webinar Series for Sustainability Assurance EngagementsLeaf Quality Systems2025-08-28T17:46:08+02:00

Group audits 2 of 3 – Procedures Excluding Consolidation Procedure
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LEAF Financial Reporting, LEAF Quality, LEAF Training

Group audits 2 of 3 – Procedures Excluding Consolidation Procedure

LEAF Quality Systems (Pty) Ltd2022-01-24T08:06:29+02:00

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 deserve. In the discussion of audit procedures, this article EXCLUDES the consolidation process, and should be read in conjunction with parts 1 and 3 to reach an understanding of group audits as a whole. It addresses key requirements which auditors would be wise to include [...]

Group audits 2 of 3 – Procedures Excluding Consolidation ProcedureLEAF Quality Systems (Pty) Ltd2022-01-24T08:06:29+02:00

Significant Risk Assessment
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LEAF Audit Quality, LEAF Global, LEAF Training

Significant Risk Assessment

LEAF Quality Systems (Pty) Ltd2021-09-19T17:16:27+02:00

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 of revenue recognition and management override of controls, per ISA 315 and 240, instead of truly applying their mind to the circumstances of each audit client and adequately justifying the risk assessment on file. This article attempts to break this important assessment down into simple [...]

Significant Risk AssessmentLEAF Quality Systems (Pty) Ltd2021-09-19T17:16:27+02:00

Internal Control – We revisit the concepts
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LEAF Audit Quality, LEAF Technical, LEAF Training

Internal Control – We revisit the concepts

LEAF Quality Systems (Pty) Ltd2021-09-19T17:36:44+02:00

Internal Control – We revisit the concepts When thinking about internal control, and its relationship to risk assessment and the ISA 315 standard, we consider it equal to a first-year university auditing subject, and not really an area of concern when it comes to compliance and regulation, since most small-to-medium sized firms insist on following a substantive approach in auditing and do not give internal control as a risk assessment tool the required attention. Important definitions and concepts The definitions of the concepts and [...]

Internal Control – We revisit the conceptsLEAF Quality Systems (Pty) Ltd2021-09-19T17:36:44+02:00