Month: November 2022

DUE DILIGENCE Due diligence is a fact finding exercise and is usually conducted to reduce the risk of poor investment decisions. Purpose of due diligence An advisor is engaged by the acquirer of a company to gather information on the Read More …

CORPORATE GOVERNANCE Corporate governance is the system by which companies are directed and controlled. Good corporate governance is important because the owners of a company and the people who manage the company are not always the same. Principles of corporate Read More …

AUDIT OF BANKS AND OTHER FINANCIAL INSTITUTIONS Bank audit can be classified into three categories: Concurrent audit Internal audit Statutory audit Concurrent audit: audit or examination of transaction as and when a transaction actually happens. It is a continuous audit, which Read More …

AUDITOR’S REPORT Relevant Standard (ISA 700) This is the final procedure of the audit engagement which provides an auditor with an avenue or opportunity to communicate his opinion on the financial statement to the users. The auditor should review and Read More …

CPA AFR: INTEGRATED REPORTING ADVANCED FINANCIAL REPORTING AND ANALYSIS INTEGRATED REPORTING What is integrated reporting and what are the benefits? Integrated Reporting brings together material information about an organization’s strategy, governance, performance and prospects in a way that reflects the Read More …

CPA AFR: ACCOUNTING FOR INFLATION-IAS 29 ADVANCED FINANCIAL REPORTING ACCOUNTING FOR INFLATION-IAS 29 Overview IAS 29 Financial Reporting in Hyperinflationary Economies applies where an entity’s functional currency is that of a hyperinflationary economy. The standard does not prescribe when hyperinflation Read More …

CPA AFR: Environmental accounting ADVANCED FINANCIAL REPORTING Environmental accounting Environmental accounting is a subset of accounting proper, its target being to incorporate both economic and environmental information. It can be conducted at the corporate level or at the level of a national Read More …

CPA AFR: SEGMENTAL REPORTING (IFRS 8) SEGMENTAL REPORTING (IFRS 8) Objective IFRS 8 Operating Segments requires particular classes of entities (essentially those with publicly traded securities) to disclose information about their operating segments, products and services, the geographical areas in Read More …

CPA AFR: Management Discussion and Analysis (MD&A) ADVANCED FINANCIAL REPORTING Management Discussion and Analysis (MD&A) Management has a unique perspective on the entity. That perspective has value for users of financial reports. Generally, the information that is important to management Read More …

C.P.A AFR: Social accounting ADVANCED FINANCIAL REPORTING Social accounting Social accounting (also known as social accounting and auditing, social accountability, social and environmental accounting, corporate social reporting, corporate social responsibility reporting, non-financial reporting or accounting) is the process of communicating the social and environmental effects of organizations’ economic actions Read More …