IRBA 2021 Inspections Report

What you will learn

By the end of this event the attendee should understand:  

• • Improve the quality of your client’s audit file by improving and maintaining audit quality with knowledge of the upcoming IRBA inspections;
  • Better communicate with the audit firm and audit partner;
  • Appreciate the complexity of the audit process;
  • Facilitate the discussion between the client and the audit firm; and
  • Be aware of the contents of the IRBA Inspections Report, including awareness of the 7th Inspection Cycle and the new IRBA 5-year strategy.

Description

Business Accountants often assist clients to prepare for an audit. They do this by preparing the audit file that the audit firm will use to audit the client.

Business Accountants that understand the challenges faced by audit firms when it comes to quality control will be able to assist the audit firm in performing better audits.

IRBA is the regulator of auditors and has released their 2021 Public Inspections Report which reveals recurring quality deficiency faced by audit firms in the 3rd and final year of their 7th Inspections Cycle.

This webinar explains the IRBA findings and how audit firms should improve their practice and quality control processes.  All attest and assurance staff must stay informed about mistakes made by other practices that have been inspected by IRBA, and take measures to prevent the identified deficiencies within their own practice. This includes Independent Reviewers because independent review is regarded as assurance work.

Join our technical experts to review the findings of the report and identify practical measures to safeguard your engagement working papers.

This will assist Business Accountants to prepare better client audit files thereby reducing costs and presenting value to audit firms. It may also assist Business Accountants to perform better Independent Review Engagements as independent review is regarded as assurance work.

Price

The following pricing apply:

Ad hoc: R450 for this webinar
Subscription: N/A

Content

Study unit 1

Introduction:

• Reflection on the 7th Inspection cycle.
• Overview of the new IRBA 5-year strategy.

Study unit 2

The IRBA 2021 Public Inspections Report:

• Findings and summary.
• Overview of inspection results 2021.
• Key inspection themescomprising deficiencies:
  • Firm-wide deficiencies.
  • Individual assurance engagement deficiencies. 
• Remedial Action Process: 
  • Top 5 reportable deficiencies.
  • Remedial action plan. 

Study unit 3

Conclusion

Requirements

There are no preconditions for this course.
Moderate level.
Recorded webinar made available on a specified date

Presenter

Lettie Janse van Vuuren | CBA (SA)

Lettie is a Certified Business Accountant (SA), Chartered Accountant, Registered Auditor, as well as an Assessor and Moderator. As a professional trainer and webinar host, she is able to hold the attention of an audience with her relaxed and humorous presentation style.  She has a unique ability to communicate with delegates at their respective levels of knowledge and experience.  Over the last 20 years, she has trained thousands of partners, managers, trainee accountants and other professionals.

She is responsible for researching, compiling and presenting our MCLU (Monthly Compliance and Legislation Updates). 

SAIBA Academy Support

By attending this webinar, you will be provided with:
– Summarised slide presentation.
– Reference documents and / or course material where available.
– Access to a technical knowledge base.
– Recorded webinar that includes an expert presenter and participant interaction.