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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.

*SAIBA provides guides that are available as part of your preparation. Any recommended textbooks and webinars are an additional cost for your own expense. 

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

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