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STANDARDS c o n t .


External Confirmations from Financial


Registered auditors are advised that the status and authority

paragraph contained in page 4 of SAAPS 6 has been updated

to reflect the wording as per the

Committee for Auditing

Standards (CFAS), Status and Authority of Quality Control,

Auditing, Review, Other Assurance and Related Services


document that was issued in November

2013. This change is considered non-substantive by the

CFAS, so it does not constitute a revision of SAAPS 6.

The SAAPS is available on the


Engagements onAttorneys' Trust Accounts

The CFAS approved a project for the revision of the

Guide for

Registered Auditors: Engagements on Attorneys' Trust


. The revision will be performed in two parts.


Part one of the project will be to update the illustrative

engagement letter, the management representation letter

and the auditor's report for amendments to ISAE 3000


Assurance Engagements Other Than Audits or

Reviews of Historical Financial Information

, which is

effective for assurance reports dated on or after 15

December 2015. It is expected that the revised documents

will be issued by July 2016.


Part two will be to update the Guide and appendices for:

o The UniformRules;

o ISAE 3000 (Revised);

o Guidance on components of other entrusted property

and all estatematters; and

o Other issues identified by the Task Group.

It is likely that the revised guide will be issued on exposure

early next year.

The Uniform Rules were promulgated on 26 February

2016 and were published in Government Gazette No. 39740,

General Notices and Notice 2 of 2016 and are effective from 1

March 2016.

( ) ( ) standards-functions-55/91?task=view practitioners/policy-documents/misc/uniform-rules-for-the- attorneys--profession


The CFAS invites proposals for future standard-setting

pro j ec t s . Pl ease submi t such proposa l s to

, including information regarding

the proposed project.

B-BBEE VerificationAssurance

Revision of SASAE 3502,

Assurance Engagements on

Broad-Based Black Economic Empowerment (B-BBEE)


A project is to commence shortly to revise SASAE 3502 for

amendments to legislation. Minor changes to be effected to

the SASAE are due to:


Amendments to the B-BBEE Act, 53 of 2003, that will

require a revision of references in terms of the B-BBEE

Amendment Act, 46 of 2013.


The definition of B-BBEE Codes of Good Practice (CoGP)

as a result of the issue of the 2013 CoGP, which replaced

the 2007 CoGP.


The Sector Codes which are in the process of being

amended, thus the effective dates of the amended codes

would have to be revised.


A revision of the illustrative verification certificates in the

appendices of the SASAE to align with the amendments to

the underlying criteria being audited in terms of the

amended 2013 CoGPand the amended Sector Codes.

It is expected that the revised SASAE 3502 will be issued in

July 2016.

Effect of Government Gazette No. 39703 on Sector Codes

The DTI issued Government Gazette No. 39703 on 17

February 2016, which has effected the repealing of the

following Sector Codes:


Construction Sector Code – Government Gazette No.



Chartered Accountancy Sector Code – Government

Gazette No. 34267.

Auditors are alerted to the fact that due to the above Sector

Codes being repealed, these codes may not be used to

determine the measured entity's (ME) B-BBEE status from 17

February 2016.

Issue 33 January - March 2016