Compile and Audit / Review the same Annual Financial Statements – Legal Restrictions incl. Auditor Rotation Feeling the financial pinch of lockdown? Looking to take on new clients or new engagements [audits / reviews / compilations] for existing clients, to improve things? Are you, in fact, allowed to do the audit / review of the same client for which you compiled the AFS? How long can you serve for, as auditor / reviewer? Well, auditors, accountants and professional consultants are often unsure about whether they can offer multiple services to the same client. These matters are referred to as “independence restrictions” and can have major financial benefits if adhered to, or otherwise cause devastating reputational and legal damage, if not. Join us as we look at the legal and ethical independence restrictions affecting professionals, who offer, or want to offer, assurance and non-assurance services.

Legal independence restrictions pertaining to specific industries, e.g. attorneys, companies, body corporates and others Ethical independence restrictions, e.g. SAICA / IRBA / SAIPA Code of Ethics Auditor / reviewer and firm rotation restrictions

Auditors, Audit managers, Audit partners, Engagement Quality Control Reviewers, Compliance officers, and Ethics officers