Skip to the content

Independent Review Specialist

Become an Independent Review Engagement Specialist, attract more clients, get referrals from non-specialist accountants and diversify your income stream.

R 2500
Category Assurance
Accredited SAIBA
CPD Hours 25
Effort 1 month, 6 hours per week
Duration 2 hours, 100 marks
Format Self-study
Level NQF Level 6
Assessment Yes
Supervised No
Pre-Entry Yes
Tuition Optional
Study Material Yes

What you will learn

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 SAIBA.

As a SAIBA licensed practitioner you will:

  • Be equipped with the necessary skills to fulfill their 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.

Study Units

International use and application if review engagements
100 mins
What is a review engagement
20 mins
Who can perform an independent review
6 mins
Voluntary reviews vs Independent reviews
7 mins
Differences between assurance and non-assurance engagements
15 mins
Statutory law, Contract law, Common law and Review Standards – How do they interact
10 mins
Option available for companies with financial problems
30 mins
Concept of business rescue and applicable definitions
45 mins
Code of Conduct applicable to reviewers
Quality control standards applicable to reviewers
Screen the client
3 mins
Identify the purpose of the engagement and intended users
Understanding of the accounting framework
Assess capabilities
Consider independence
Agree the terms of the engagement
Consider integration of other services
Consider performing compilation procedures
Consider materiality
Obtain an understanding of the client’s industry, organisation, operations, assets, liabilities, revenue , expenses.
Perform inquiries and analytical procedures
Consider performing additional procedures
Consider changing the terms of the engagement
Ensure proper use of the practitioner’s name
Obtain a written representation letter
Consider subsequent events
Consider going concern
Consider past engagement responsibilities
Form a conclusion
Consider correct form and content of the report
Consider modifications of the report


The entry requirements for the licence is a BAP(SA) or an equivalent designation at NQF level 7, together with a minimum of 8 years of relevant experience.


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.

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

Download the Prospectus

Register NOW!