Odendaal, Elizabeth MargarethaDe Jager, Herman2012-05-242012-05-242011Odendaal, EM & De Jager, H 2011, 'Independent reviews : perceptions of Chartered Accountants (South Africa)', Southern African Journal of Accountability and Auditing Research, vol. 12, pp. 25-36.1028-9011 (print)http://hdl.handle.net/2263/18868The Companies Act of 2008 introduces the independent review of financial statements of certain non-public interest companies as an alternative to the conventional audit. The audit of financial statements can only be performed by a Registered Auditor and is currently still required for all companies. The objective of the study is to determine the perceptions of Chartered Accountants (South Africa) regarding independent reviews. A questionnaire was used in order to obtain the perceptions of Chartered Accountants (South Africa) regarding independent reviews. This questionnaire covered the nature of an independent review, determinants of audit exemption, performing an independent review, and practitioners deemed competent to perform an independent review. The study also evaluated whether Chartered Accountants (South Africa), who are not allowed to perform audits, do in fact qualify to perform independent reviews. The respondents confirm the need for a principle-based stand-alone set of independent review standards as this is likely to clarify the terminology and to enhance the quality of reviews. The study also reveals that Chartered Accountants (South Africa) meet the requirements to perform independent reviews. However, the Independent Regulatory Board for Auditors should oversee the regulation of Chartered Accountants (South Africa) performing independent reviews to ensure that independent reviews are also performed in the public interest.enSouthern African Institute of Government AuditorsChartered Accountants (South Africa)Independent review standardsDraft Regulations to the Companies ActRegistered Government Auditors (RGA)Independent Regulatory Board for Auditors (South Africa)South Africa. Companies Act, 2008Financial statements -- ReviewsAuditors' reportsSouth African Institute of Chartered AccountantsArticle