Law

• Common law dictates that accountants should be accountable to ethical best practice.

• As a professional body CIBA is empowered to prescribe ethical rules for members.

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

• Acts and regulations may prescribe rules regarding the preparation of financial statements in a certain format. This is the responsibility of the owners/managers/board of the relevant entity.

• CIBA designated members may assist entities with preparing their financial statements. Such assistance must be in the form as prescribed here.

Guides and Circulars

• Press release on ISRS™ 4410

• 2016-2017 Handbook of international quality control, auditing, review, other assurance, and related services pronouncements (including ISRS™ 4410)

• IFAC Guide to Compilation Engagements, a PowerPoint slide deck to introduce users to the value and benefits of compilation engagements.

• IFAC guide to compilation engagements.

• International Standard on Related Services 4410 (Revised) Compilation Engagements (ISRS 4410)

CIBA

• Notice – 202008: CIBA prescribes the application of ISRS4410 (202006-Share-Folder)

• Guide to Preparing Financial Statements for Companies_October 2024 - View the 3 page summary here, or log in to your member profile (accounts.myciba.org) and download the full guide.

• CIBA financial statements Example using IFRS for SME.

CPD

• CIBA members are required to go to www.saiba.academy for CPD related to these and other topics.

• CIBA members read www.acountingweekly.com for the latest developments.

• Watch the CPD: Preparing financial statements in terms of IFRS for SME.