"Where there are rules, they will be broken." While some rules may be trivial, others are designed to safeguard the interests of all stakeholders. This course explores the auditor’s responsibility towards laws and regulations in an audit and the appropriate response when non-compliance is identified.
Participants will also learn about the consequences of failing to fulfill their reporting responsibilities, focusing on ISA 250 – Consideration of Laws and Regulations in an Audit of Financial Statements. The course provides a practical approach to understanding, documenting, and responding to non-compliance in line with relevant professional standards and legislation.
This course equips participants with the practical tools and knowledge needed to manage their responsibility for identifying, responding to, and reporting non-compliance with laws and regulations during an audit.
• Auditor's knowledge and understanding of applicable laws and regulations • Different responsibilities regarding laws with direct effect and laws with indirect effect • Determining whether the auditor is responsible for identifying all instances of non-compliance • Responding to identified non-compliance under ISA 250 • Reporting obligations under the Auditing Profession Act (APA) for reportable irregularities • Compliance with the Code of Conduct (NOCLAR – Non-Compliance with Laws and Regulations) • Timing and methods for reporting non-compliance • Practical documentation of non-compliance and related actions • Compliance with anti-bribery and corruption legislation • Identifying specific laws and regulations relevant to the audit
