Download or read book The Limitation of an Auditior s Liability in South Africa written by Steven Firer and published by GRIN Verlag. This book was released on 2016-02-04 with total page 218 pages. Available in PDF, EPUB and Kindle. Book excerpt: Master's Thesis from the year 2013 in the subject Law - Comparative Legal Systems, Comparative Law, , course: LLM, language: English, abstract: This dissertation recommends that the laws governing the liability of the auditor in South Africa be amended to ensure a sustainable audit function and accordingly a competitive market for audit firms. These amendments must take the form of (a) introducing a monetary cap or ceiling on the quantum of damages that may be claimed by a plaintiff in the event that an auditor is found guilty of a breach of his or her legal duties and obligations in contract and in delict, (b) the provision for auditors to enter into contracts with their clients to limit the quantum of damages that may be suffered by the client as a result of the auditor’s breach of the contract with his or her client, and (c) introducing legislation which, will protect audit partners from personal liability if they did not participate directly in another partner's misdeed or fraud. It is submitted that this dissertation should be viewed as a Revised Project 70 where the South African Law Commission in 1988 investigated the desirability of the limitation of professional persons and the possible regulation thereof by legislation [the conclusion was that there was no justification to limit the liability of any category of professionals by legislation]; which is updated with and including the fundamental and paradigm shifting changes that have taken place in the global markets since then regulators in Australia, United States of America, United Kingdom, Austria, Germany, Greece, Belgium, Slovenia and Australia have removed the prohibition on auditors limiting their liability in relation to work conducted within the statutory audit function. This dissertation explores and analyses whether these significant changes to the legal systems in the United States of America, European Union and Australia would be considered appropriate for implementation in South Africa. The main component of this dissertation is constituted by a comparative analysis of the different civil liability systems for auditors which currently exist in Australia, Germany, South Africa, the United Kingdom and the United States of America. The objective of the comparative analysis was to determine to what extent the different systems of civil liability of auditors which exist in Australia, Germany, United Kingdom and United States of America could be implemented in South Africa. [...]
Download or read book Accounting and Auditing Practices in Africa written by Mariaan Roos and published by AFRICAN SUN MeDIA. This book was released on 2017-06-28 with total page 171 pages. Available in PDF, EPUB and Kindle. Book excerpt: This book comprises nine chapters drawn from the papers presented at the fourth annual conference of the African Accounting and Finance Association which took place in Somerset West, South Africa in 2014. The chapters address a number of aspects of accounting, ranging from the adoption of IFRS for SMEs in Africa, the compliance by SMEs with IFRS for SMEs in Ghana, the provision of finance to small businesses, drivers of corporate failures, financial regulations, the audit of casinos, the auditors' report and investment decisions, the role of government audit committees, and audit fees and audit quality.
Download or read book Limitation of Professional Liability written by South African Law Commission and published by . This book was released on 1993 with total page 244 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Download or read book Responsibilities and Liabilities of Accountants and Auditors written by United Nations Conference on Trade and Development and published by New York : United Nations. This book was released on 1996 with total page 104 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Download or read book The Auditor written by Mervyn King and published by Routledge. This book was released on 2018-06-13 with total page 110 pages. Available in PDF, EPUB and Kindle. Book excerpt: The audit profession is at a tipping point. Without significant innovation in its business model, staff recruitment strategies and audit execution processes, the audit profession may not remain relevant in the 21st century. The number of claims against auditors has significantly increased over the past twenty years due to the spate of corporate and audit failures early in the 21st century (Enron, Worldcom, Parmalat, etc.). Regulation to monitor professional and ethical standards has increased, leading audit firms to feel under even more financial pressure. In addition, the investor community is calling for greater insight and foresight from auditors. These challenges, coupled with the unlimited liability regime of auditors still applicable in many jurisdictions, are making audit firms and regulators nervous as to the systemic risk of another one of the Big 4 failing. And yet, the audit profession is in place to protect businesses, their wider stakeholder groups, including clients and investors, and society at large. Therefore, this book asks the important question about the profession’s future and engages a broad readership in the discussion of audit failure and reform. Intended to help readers to get up to speed with the issues and possible solutions quickly, this book assists directors, investors, business people and regulators, especially those with a non-financial background, to gain a greater understanding of the challenges and threats being faced by the audit profession, which in turn could disrupt the capital market and affect businesses across the globe. The book outlines the critical success factors needed for a sustainable audit profession.
Download or read book EBOOK Auditing and Assurance Services written by Cornelie Crous and published by McGraw Hill. This book was released on 2012-03-16 with total page 687 pages. Available in PDF, EPUB and Kindle. Book excerpt: Auditing & Assurance Services, First South African Edition, combines a genuine international perspective with South African examples and coverage of the landmark changes within the South African auditing environment. Key features include: South African content - The authors weave regionally specific content and examples throughout the text and cover the changes to the regulatory and corporate governance environment in South Africa. International perspective - Professional practice and regulation all over the world is driven by international events and initiatives. The clarified ISAs are fully integrated into the chapters with international real-world cases used to illustrate concepts and application. Systematic approach - The text gives students a deep understanding and working knowledge of fundamental auditing concepts and how they are applied. The core foundation of the text and its focus on critical judgements and decision-making processes prepare students for today’s complex and dynamic audit environment. Student engagement - A student-friendly writing style and a variety of real-life examples make the text easily accessible. Each chapter ends with a comprehensive variety of materials to apply and test students’ understanding of acquired knowledge.
Download or read book Business Ethics written by Bob Tricker and published by Routledge. This book was released on 2014-01-03 with total page 562 pages. Available in PDF, EPUB and Kindle. Book excerpt: Traditionally, books on business ethics focus on CSR, companies’ relations with their stakeholders, and corporate citizenship. More recently, green credentials and sustainability have been added to that agenda. Unconventionally, this book argues that business ethics are basic to running business, not a separate subject. They are inherent to the governance and management of every organization, not an optional exercise in corporate citizenship. Business ethics concern behaviour in business and the behaviour of business. Decisions at every level in a company have ethical implications – strategically in the board room, managerially throughout the organization, and operationally in all of its activities. The use, and sometimes the abuse, of corporate power, the process of corporate governance, raises ethical issues. Business involves risk-taking, whether decisions are at the strategic, managerial, or operational level. Exposure to ethical risk needs to be part of every organization’s strategy formulation, policy making, and enterprise risk management. Designed to be read by both undergraduates and postgraduates, this book is a primer on ethics in business. It is also relevant to ethics courses that are now part of many legal, accountancy and other professional examinations. The book is not about moral philosophy, nor does it prescribe appropriate standards of behaviour or recommend economic, legal or political solutions. Rather it enables readers to recognize ethical issues in business, to respond appropriately, and to embed ethics in business processes. The book not only considers what business ethics are, and why they are important, but offers practical approaches on how to develop a successful corporate ethics culture.
Download or read book Annual Survey of South African Law written by and published by . This book was released on 2007 with total page 1264 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Download or read book Auditing written by Lawrence Robert Dicksee and published by . This book was released on 1909 with total page 612 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Download or read book The Future of Auditing written by David Hay and published by Routledge. This book was released on 2019-06-20 with total page 77 pages. Available in PDF, EPUB and Kindle. Book excerpt: The Future of Auditing provides a concise overview of the function of auditing and the future challenges it faces, underpinned with suggestions for future research. It evaluates the key challenges facing the profession, such as quality, competition, and governance, as well as highlighting the under-explored areas of ethics, fraud, and judgement. The emphasis throughout is on the value of audit, and the importance of auditing research. Providing an original assessment of global versus national auditing, evidence-based auditing standards, and the structure of professional firms, David Hay critically examines the value of auditing from different standpoints. He critically reviews current assumptions about the value of audits of financial statements, and explores research opportunities and priorities to improve understanding of the value of auditing and its future role and function. This authoritative but accessible guide to the future of auditing and the challenges it faces will be useful not only to auditing researchers, but also to policy makers, standard setters, financial journalists, and auditing professionals seeking an accessible overview of current and future issues in auditing.
Download or read book The Principles and Practice of Auditing written by George Puttick and published by Juta and Company Ltd. This book was released on 2007 with total page 1300 pages. Available in PDF, EPUB and Kindle. Book excerpt: A valuable resource for students preparing for certification, registered accountants and auditors, and financial personnel in various businesses, this is the 9th updated edition of a classic auditing text. Integrating theory with practice and application, it is up-to-date with the field's recent and gradual transition from self-regulation to external auditing and supervision.
Download or read book Juta s Statutes of South Africa written by South Africa and published by . This book was released on 2004 with total page 1602 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Download or read book The Comparative and International Law Journal of Southern Africa written by and published by . This book was released on 1977 with total page 396 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Download or read book Auditing written by L.R. Dicksee and published by Рипол Классик. This book was released on 1969 with total page 387 pages. Available in PDF, EPUB and Kindle. Book excerpt: Authorized American Edition.
Download or read book Accountants Negligence and Liability written by Simon Salzedo KC and published by Bloomsbury Publishing. This book was released on 2021-03-26 with total page 566 pages. Available in PDF, EPUB and Kindle. Book excerpt: An in-depth practical work covering all the main areas of accountants' legal liabilities in negligence claims, including audit liabilities to clients and others, tax and insolvency work and conflicts of interest. It covers accountants' negligence in relation to claims against accountants acting for corporations as well as accountants acting for individuals. The second edition focusses on the difficult legal issues surrounding the liability of accountants in negligence claims. It covers statutory and non-statutory audits, tax advice, specified procedures reporting, due diligence reports and corporate finance reporting. It looks at the scope of losses for which the accountant may be liable with detailed reference to case law as well as money laundering and regulatory issues. Limitation and contributory fault are considered with special reference to accountants' cases. The following important developments and case law are included: - The material covering the application of the SAAMCO/scope of duty principle has been substantially revised following the clarification of the SAAMCO principle of scope of duty by the Supreme Court in BPE Solicitors & Anor v Hughes-Holland [2017] UKSC 21, [2018] AC 599 and the Court of Appeal in the accountants' case of Manchester Building Society v Grant Thornton UK LLP [2019] EWCA Civ 40, [2019] 1 WLR 4610 - AssetCo v Grant Thornton [2019] EWHC 150 (Comm), [2019] Bus LR 2291 in which the first edition of this book was cited several times, an auditor was held liable for trading losses caused by management fraud and the Court of Appeal at [2021] PNLR 1 considered the application of the scope of duty principle to a general audit case and the question of credit for the receipt by the company of new capital - The difficult question of the application of the scope of duty principle to dividends, discussed by the High Court in BTI v PricewaterhouseCoopers [2020] PNLR 7 and the Court of Appeal in AssetCo v Grant Thornton - Lowick Rose LLP v Swynson Ltd & Anor [2017] UKSC 32 on avoided loss - Developments in the application of rules of contributory fault to accountants in the light of the trial judgments on this issue in Manchester Building Society v Grant Thornton and AssetCo v Grant Thornton - The effect of the Supreme Court's decision in Singularis Holdings v Daiwa Capital Markets [2020] AC 1189 on auditor's counterclaims and the illegality defence - The controversial High Court decision on accountants' conflicts of interest in Harlequin Property v Wilkins Kennedy [2017] 4 WLR 30 - Pre-action disclosure against auditors following the decision in Carillion Plc v KPMG LLP [2020] EWHC 1416 (Comm) - First Tower Trustees v CDS (Superstores) [2019] 1 WLR with important implications for the application of UCTA to disclaimers of liability - Halsall v Champion Consulting [2017] PNLR 32 where extended limitation under s14A was considered in the context of tax schemes and a tax adviser's contractual time bar was construed - Evans v PricewaterhouseCoopers [2019] EWHC 1505 (Ch) on the date when the cause of action for tax advice was considered in detail - Developments in the law of privilege in relation to investigations of auditors including Sports Direct v Financial Reporting Council [2020] EWCA Civ 177, [2020] 2 WLR 1256 - Substantial revisions to the Code of Ethics, disciplinary bye-laws, and the FRC's rules and schemes
Download or read book Butterworths Survey of South African Law written by and published by . This book was released on 1994 with total page 424 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Download or read book Due Diligence written by Luis F. Gillman and published by . This book was released on 2001 with total page 136 pages. Available in PDF, EPUB and Kindle. Book excerpt:
