Law

• Common law dictates that accountants should implement technical best practice.

• As a professional body CIBA is empowered to prescribe technical best practice for members.

• CIBA prescribes that all designated members should abide by the IAASB’s handbook for professional engagements.

Acts, Regulations, Standards and Pronouncements

• Not applicable

Guides and Circulars

The IAASB has provided a number of guides, videos and PowerPoint slides that will assist accountants with understanding their responsibilities in terms of ISAE 3000:

• ISAE 3000 (Revised)

• Assurance Engagements Other than Audits or Reviews of Historical Financial Information:

  Provides requirements and guidance on assurance engagements, other than audit or reviews of historical financial information. It is a principles-based standard that is capable of being applied effectively to a broad range of underlying subject matters, and provides a basis for current and future subject-specific ISAEs.

• ISAE 3402

• Assurance Reports on Controls at a Service Organization:

  For practitioners engaged to give an assurance report on internal controls at service organisations. The scope of assurance reporting covers internal controls over the service the service organisation provides that are relevant to user entities’ internal control over their financial reporting. ISAE 3402 expands on how ISAE 3000 (Revised) is to be applied in a reasonable assurance engagement to report on controls at a service organisation.

• ISAE 3410

• Assurance Engagements on Greenhouse Gas Statements:

  Deals with assurance engagements to report on an entity’s greenhouse gas statement. Assurance engagements envisaged may cover a GHG statement and other information, for example, when the practitioner is engaged to report on a sustainability report of which a GHG statement is only one part. ISAE 3410 expands on how ISAE 3000 (Revised) is to be applied in an assurance engagement to report on an entity’s GHG statement.

CIBA has provided a number of guides, videos and PowerPoint slides that will assist accountants with understanding their responsibilities in terms the various types of engagements.