Independent Review Specialist

Why do I require a license

The Independent Review Specialist License is a pre-requisite for a BAP(SA) to obtain CIPC recognition and registration as an independent reviewer to perform independent reviews.

The purpose of the license

To obtain the license you need to provide evidence of competence in the specialist area. This evidence is presented by passing an exam. The exam is set by an independent industry expert and accredited by CIBA.

What are the benefits of the Independent Review Specialist License

As a CIBA licensed practitioner, you will:

• Be equipped with the necessary skills to fulfill your statutory duties in terms of section 30(7)(b) and regulation 29 of the Act and Regulations.
• Be equipped with the necessary skills to apply standards of conduct, quality control and ISRS 2400 in performing an independent review.
• Specialist work attracts higher fees, with higher profit margins.

Description

The Companies Act, 71 of 2008 requires certain companies to be audited and others to have their financial statements independently reviewed by an independent reviewer. An independent review is an alternative to the audit but still allows an opinion to be expressed on the financial statements. Independent reviews have to be performed in terms of the International Standard on Review Engagements 2400 by a qualified independent reviewer.

Price

The following pricing apply: R2,500.00

Annual renewal fee from R550.00

No incorrect purchases will be refunded. Please ensure that you comply with the requirements listed within the products. No refunds will be made should you not comply with the requirements. If you are unsure whether you comply, please contact academy@saiba.org.za.

The License does not form part of a subscription package.

Content

The License consists of the following:

1. Access to study material to assist in preparation for the assessment. The study material includes the following 6 units:
   • Introductions and Definitions
   • Ethics and Quality
   • Accepting the Client
   • Performing the Engagement
   • Completing
   • Issue a Report
2. Assessment
   • Multiple choice questions
   • Essay assessment

Requirements

The entry requirements to enroll are as follows:

1. a BAP(SA) (CIBA designation) OR an equivalent designation with another professional body equivalent at NQF level 7 plus SAIBA Associate membership together with
2. a minimum of 3 years of general accountancy experience.

Should you lack the BAP(SA) designation you could qualify for the designation via CIBA’s competency recognition routes. Read more here.