Naledzani Mamuremu

Fourth and Final Publication in Series Exploring Ethics in an Era of Complexity and Digital Change Released

Notice On 27 April 2022 the final publication in a four part series discussing ethical leadership in an era of complexity and digital change was released after a global roundtable event held jointly with Chartered Professional Accountants of Canada (CPA Canada) and the Institute of Chartered Accountants of Scotland (ICAS). Paper 4 is entitled: “Mindset …

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Report on IESBA Accomplishments for 2020 and 2021 released

Notice The International Ethics Standards Board for Accountants (IESBA) released on 4 May 2022 the report, Elevating Ethics and Independence Standards for a Complex World, which summarises the Board’s accomplishments for 2020 and 2021. Information The IESBA is an independent global standard-setting board. The IESBA’s mission is to serve the public interest by setting ethics standards, …

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Revised Illustrative Section 15 Retirement Fund Agreed-upon Procedures Reports

Notice The Independent Regulatory Board for Auditors’ (IRBA) Committee for Auditing Standards,at its meeting on 1 March 2022, approved the following revised Illustrative Section 15 Retirement Fund Agreed-upon Procedures Reports: Ordinary Funds Umbrella Funds; and Retirement annuity and preservation Funds. Information The revised illustrative regulatory reports have been updated for the following: The International Standard …

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Non-authoritative guidance on Fraud in an Audit of Financial Statements

Notice On 5 May 2022 the IAASB published non-authoritative guidance called “The Fraud Lens – Interactions Between ISA 240 and Other ISAs”. Information ISA 240 both expands on certain ISAs as well as provides fraud-specific audit procedures that complement the other ISAs. In doing so, ISA 240 broadly focuses on the auditor’s fraud lens when …

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New IAASB fact sheet addresses audit engagement team definition

Notice The International Auditing and Assurance Standards Board (IAASB) issued a new fact sheet on 2 May 2022 that provides guidance on the updated definition of an ‘engagement team’ in respect of audit engagements. Note, however, that the definition of ‘engagement team’ specifically excludes an auditor’s external expert and internal auditors who provide direct assistance …

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