The Companies Act 71 of 2008 recognises SAIPA members as Independent Reviewers. However, this is a totally new line of reporting for Professional Accountants (SA), and SAIPA is constitutionally bound to ensure that its members do not take up appointment for duties that they are not competent to conduct.
SAIPA is proud to officially publish the list of Accounting Officers that have undertaken the task of acquiring the required training on the Independent Review engagement. Congratulations are therefore in order for the Certified Independent Reviewers
In terms of the Companies Regulations "Accounting Officers" can conduct independent reviews for private companies and owner managed entities (these are entities with a Public Interest Score(PIS) of less than 100.
SAIPA has amongst other things, appealed to the department of trade and industry (the dti) against the current exclusion and limitation of SAIPA members to only the Companies with less than 100 PIS, giving an undertaking that Professional Accountants that would have been trained and certified by the Institute should also be allowed to conduct reviews on the entities with PIS of 100 to 350.
In order to achieve this, SAIPA has arranged for members to receive intensive training that demystifies and provide guidelines in terms of ISRE (International Standard on Review Engagements) 2400, covering the following areas:
1. Regulatory Framework
2. Core Concepts
3. Independence
4. Quality Control
5. Engagement Acceptance and Continuance
6. Planning
7. Materiality in Review Engagement
8. Procedures & Evidence
9. Documenting & Evaluating Results
10. Conclusions & Reporting
11. Reportable Irregularity
Cost: R1895.00 per delegate, (Excluding VAT)
CPD Hours: 35 structured hours upon successfully completing the assessment.
Start Date: NOW.
Venue: At the comfort of your home/office
Registration is NOW OPEN: Click here
You will receive:
1. A comprehensive E-learning course
2. A supplementary Guide to Independent Reviews
3. Video presentations from a leading expert
4. An extensive case studies and examples
5. Example working papers and procedures
6. Verifiable CPD Hours
RECOGNITION OF PRIOR LEARNING & OPTING TO ONLY TAKE THE EXAM
Individuals that chose not to go through the e-learning course on the Independent Review certificate, and only take the exam, now have this option available. It should however be noted that one would need to have some prior learning and Professional experience for this to be considered.
The following qualifications will be considered for exemption from the certificate course upon the member submitting a request in writing:
a. Registered auditors
b. Members holding an academic qualification with independent review as a module (post 2011)
c. Members that hold a certificate obtained from a reputable training provider provided the content of the training meets with the standards developed by SAIPA.
The linked document provides details on how to proceed with the application for Recognition of Prior Learning.
