Transactions not at arm’s length

Available from

27 August, 2020



Course Category:


August2020 Understanding transactions that are not arm’s length – the risks and implications on the financial statements.

R 475 VAT Incl.

Product Information


By the end of this event the attendee will:  

  • Understand the implications of transactions that are not at arm’s length
    • When will the auditor apply ISA 550 (Related parties);
    • How the auditor will apply risk assessment procedures;
  • Be aware of possible indicators of transactions that are not at arm’s length
  • Be aware of questions that the auditor will consider to determine the implications of transactions that are not at arm’s length; and
  • Be aware of the illustrative procedures which may be used for risk assessment and further procedures for transactions with the entity that might not be at arm’s length.


Transactions that are not at arm’s length may pose risks in an audit of the financial statements because if such transactions are not identified by management and/or the auditor it could give rise to risks that are not addressed in the audit, and ultimately in misstatements in the financial statements.

The perpetration of fraud involving transactions that are not arm’s length has become more prevalent at entities in South Africa over the past few years. The IRBA have issued a Staff Audit Practice Alert to provide auditors with guidance regarding the auditor’s considerations with respect to transactions that are not at arm’s length. 

During this webinar we will focus mainly on identifying transactions that are not at arm’s length, but we will also highlight some basics on parties that are related.


The following pricing apply:
Ad hoc: R475.00
Subscription: N/A.


Study unit 1


Study unit 2

Implications of transactions that are not at arm’s length

Study unit 3

Determining whether ISA 550 (Related parties) applies

Study unit 4

Summary of Definitions of a Related Party as per

  • ISAs
  • IFRS (IAS 24)
  • Companies Act
  • JSE Listings Requirements
  • National Treasury.
  • King IV
  • Income Tax Act
  • IRBA Code
Study unit 5

Risk assessment procedures

  • How ISA 550 expands on application of ISA 315 and ISA 330
Study unit 6

Specific considerations:

  • Possible indicators 
  • Questions to be considered 
Study unit 7

Illustrative Procedures for risk assessment

Study unit 8

The effect on the auditor’s report


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


Lettie Janse van Vuuren

Lettie is a 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 the SAIBA Quick Update Subscription package.


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.

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