Drafting Financial Statements (Foundational Principles) 2024
To equip South African accountants with the essential knowledge and practical techniques needed for the efficient preparation and presentation of financial statements, crucial for reliable and transparent financial reporting. February 2024
Category: Financial Reporting
R 375 VAT Incl.
What you will learn
By attending this discussion forum, you will be:
- Understanding of ISRS 4410 Compilation Engagements: Attendees will gain in-depth knowledge about the International Standard on Related Services (ISRS) 4410 and its application in compilation engagements, focusing on principles and practices for compiling financial statements.
- Compliance with Companies Act Requirements: The webinar will cover the specific requirements of the South African Companies Act related to the compilation of financial statements, ensuring that attendees are well-versed in legal compliance.
- Ethical Considerations in Financial Reporting: Participants will explore ethical issues in financial statement preparation, guided by the South African Institute of Chartered Accountants (SAICA) Code of Conduct, emphasizing professional integrity and responsibility.
- Selecting the Appropriate Accounting Framework: The webinar will provide a high-level overview of different accounting frameworks including IFRS, IFRS for SMEs, and Generally RecognizedAccounting Practice (GRAP), highlighting how to choose the right framework for different scenarios
- Comparative Analysis of Accounting Frameworks: Attendees will gain a comparative understanding of how IFRS, IFRS for SMEs, and GRAP differ, enabling them to make informed decisions about the most suitable accounting framework for their specific financial reporting needs.
Accounting professionals can greatly enhance their expertise by acquiring a thorough comprehension of diverse financial reporting frameworks, with a specific emphasis on ISRS 4410 Compilation Engagements, the stipulations of the Companies Act, and ethical considerations outlined in the SAICA Code of Conduct.
This understanding empowers them to adeptly implement these standards and principles in their professional activities, guaranteeing the precision, compliance, and ethical soundness of financial statement preparation. Such proficiency not only elevates the caliber and dependability of financial reporting but also fortifies the integrity and trustworthiness of the accounting profession in South Africa.
The webinar will cover the following topics:
- ISRS 4410 Compilation Engagements:
- Overview of ISRS 4410
- Principles of Compilation Engagements
- Responsibilities under ISRS 4410
- Documentation and Reporting Standards
- Companies Act Requirements for Financial Statements:
- Overview of South African Companies Act
- Legal Requirements for Financial Statements Compilation
- Compliance and Disclosure Obligations
- Penalties for Non-Compliance
- Ethical Considerations in Financial Reporting:
- Introduction to the SAICA Code of Conduct
- Ethical Standards for Accountants
- Conflict of Interest and Confidentiality
- Professional Conduct and Independence
- Choosing the Right Accounting Framework:
- Criteria for Framework Selection
- Comparative Analysis of IFRS, IFRS for SMEs, and GRAP
- Applicability and Scope of Different Frameworks
- Transitioning Between Frameworks
The following CPD is awarded 3 Units Financial Reporting
There are no preconditions for this course.
Recorded webinar made available on a specified date
Nestene Botha CA(SA)
Nestene Botha completed her B.Com (Hons) at North West University in 2012. In 2014 she completed her professional articles and her Master’s Degree in Chartered Accountancy. She then registered with SAICA as a Chartered Accountant in 2015.
Nestene has lectured on the audit programme at the University of Cape Town. She started her own audit, tax & accounting practice which she has since grown into a reputable firm in the Table View area with 60 clients and two staff members.
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