Audit vs. independent review
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Date
Authors
Odendaal, Elizabeth Margaretha
De Jager, Herman
Journal Title
Journal ISSN
Volume Title
Publisher
Southern African Institute of Government Auditors
Abstract
One of the provisions in the Companies Act of 2008 which is particularly significant to the auditing profession in South Africa is the introduction of the "independent review of financial statements of certain non-public interest companies" as an alternative to the conventional audit of financial statements which is required for public and public interest companies. However, no regulations have yet been provided regarding the manner, form and procedures for the conduct of an independent review, nor have the professional qualifications of persons who may conduct such reviews yet been defined. This study is a background study and analysis in order to provide a better understanding of this alternative to an audit of a company's annual financial statements. The outcome of the research could be instrumental in the development of relevant regulations for the independent review of company financial statements in South Africa.
Description
Keywords
Independent review, Companies Act 71 of 2008
Sustainable Development Goals
Citation
Odendaal, EM & De Jager, H 2010, 'Audit vs. independent review', Southern African Journal of Accountability and Auditing Research, vol. 10, pp. 33-43. [http://www.saiga.co.za/publications-sajaar.htm]