Quality Management and Practice Review
The accountancy profession has a significant role to play in promoting economic growth and business sustainability, and therefore requires professionals to deliver quality services that contribute to the value chain and economic systems.
Furthermore, the quality of services rendered by professionals is important because the public trust and rely on the work of professionals to make effective, informed business and economic decisions. Tom Seidenstein (Chair of IAASB) stated: “Quality standards will drive the accountancy profession to an enhanced approach to quality ‘management’ rather than ‘control’, which better enables the consistent performance of quality engagements.” SAIPA embraced the greater focus placed on quality management in the accountancy profession and accepts its responsibility in enhancing the consistent performance of quality engagements by professionals to serve the public interest.
The Practice Review programme fulfils a mandatory requirement for SAIPA to review all Professional Accountants (SA) and professional services providers (PSPs) who perform assurance and non-assurance, compilation and/or tax services, while providing an educational experience to members and practices.