Bonginkosi Kalipa’s Post

Part-1 A series of topics where an open book policy will be of greatest help, provided they are properly highlighted before the exam. There is no need to rote learn these standards when you have them written in the ISA Handbook _ISA 250 - NON COMPLIANCE_ • If non compliance directly affects FS [not properly reflected / disclosed] = Obtain SAAE • If non compliance donnot directly affect FS: *Paragraph 15,16,17* • If Management donnot provide sufficient information : *Paragraph 20,21,22* • Impact On Report : *Paragraph 26, 27, 28, A26 , A27* • Internal Controls to prevent & detect non compliance : *Paragraph A2* • Examples of non compliances that have direct affect on FS : *Paragraph A12* • Examples of "Other procedures" that might bring into auditor's attention any instances of non compliance : *Paragraph A15* • Examples of Indications of non compliance : *Paragraph A18* • Examples when Auditor shall doubt management Integrity : *Paragraph A24* • Withdrawal Scenario : *Paragraph A25* • Communication To Be Made : *General rule is "next higher authority"*

This post, in Christopher Paris's inimitable style covers how an auditor should raise a non conformity and is also very useful for anyone on the receiving end of a non conformity being raised. The examples in the video are worth looking at even though are they from ISO9001 as the principles covered also apply to ISO27001 certification audits. I also cover some of this in this article. https://lnkd.in/etiNufRn Highly recommended.

Standard Monday💚 A step to enlighten everyone; Today spotlight is on ISA 315 guiding auditors in understanding and assessing risks of material misstatement. Let us all make this fun, kindly share what you know about ISA 315 in the comment section. #StandardMonday #ISA315 #auditexcellence #TheAuditingCircle

📢 New CPD Alert! 📢 2024-25 Update: Auditing https://bit.ly/4fvTxIf This course explores key current issues in auditing. It looks at control and risk factors key to understanding an entity, examines ISA 320's approach to calculating materiality, explores the IAASB’s targeted revisions proposed for ISA 570 Going Concern and considers an auditor's responsibilities when using the work of an expert.

Jung Lee, #JGA Director, on responding to areas of concern: “Consider what is new and relevant. Sometimes providing a detailed overview of the entire #audit approach with specific discussion around how each procedure/response addresses the #PCAOB’s concerns can provide a clearer picture to the inspector.” https://ow.ly/NBU950QKl90

To give an independent and valuable Opinion is the main task of Auditor!

At TCG we perform audits and assessments for clients all the time! But what are the key differences and which is right for your company? Nicholas Markel shares his thoughts on the matter in our newest blog post: https://lnkd.in/gDd8zsDx If you'd like to discuss our capabilities for audits, assessments and more, please send us a message! ✉

During an inspection or audit, the Host plays a critical role in ensuring transparency, cooperation, and compliance during the inspection/audit process, ultimately contributing to a successful outcome. It is very important to prepare and plan activities prior to the Inspection/Audit.  https://lnkd.in/g5DdP-UQ

FREE SESSION Preparing for a FIC Inspection Presented by Lynette Badenhorst CA(SA) Webinar 26 August 2024 09:00 - 11:30 All accountable institutions will eventually face a FIC inspection. To ensure you're fully prepared, please join me for a free session where I will guide you through the inspection process and what to expect. •   Understand the FIC inspection process •   Identify the key documents and information requested by the FIC •   How to organise and present information efficiently •   Learn how to effectively prepare for an inspection day •   Understanding the formal notification process •   Key timelines and deadlines •   Common pitfalls and how to avoid them •   Preparation for the Inspection •   What to Expect on the Day of the Inspection •   Interaction with FIC inspectors: Dos and Don'ts •   Handling unexpected queries or issues •   Addressing any findings or recommendations •   Implementing corrective actions if required. Register here https://lnkd.in/d78Bwk8q For more information contact Nerissa Singh here https://lnkd.in/efNBDMAC #fica #Accounting #auditing #Legalpractices #Propertymanagement #Highvaluegoods #BeneficialOwnership #CPD #Onlinetraining

Nobody likes the word AUDIT. Nobody. Recently, however, I have started to use this word more and more in the context of process validation in an operations management context. If you want to see if a process is occurring as it 'should', then audit it. That 'should' has a lot of caveats. Has the process been written down? Has it been trained? Is the training consistent? Has the process been reviewed? These are all good questions and all of them can be highlighted during a thoughtful audit - an audit, by the way, where the intention is to illuminate opportunity and not escalate a gotcha moment (see image of IRS check below). Operations run on processes and processes need to be reviewed from time to time to make sure that they are effective, safe, and represent best practices...if they didn't how would I know that I cannot write off my diamond encrusted steel toed boots? #safetyflare When was your last surprise audit? #operationsmanagement #continuousmprovement #audits