The Companies Act, No 71 of 2008 changed the landscape of regulation and compliance with respect to auditing of companies. In 2011, the Companies Act introduced an alternative level of assurance, being independent review for private companies. These engagements offer an alternative to a full audit, being less onerous. On the other hand, an independent review offers more assurance than a compilation or accounting officers report.
Authority to conduct an independent review
Pre-Engagement and Planning
Performing the review for all financial statement areas
Finalisation and reporting
Director, Maitland and Associates Inc.