SMP Knowledge sharing

SMP Monthly Top Tips - January 2021

Revision to the SAICA Code of Professional Conduct
SAICA Has Updated The SAICA Code of Professional Conduct (Revised November 2020). You can access the newest version of the Code here.

Audit procedures for ethical behaviour
An annual ethics auditing process provides an opportunity to reassess the effectiveness of ethical standards in shaping internal behavior.

9 Steps to Audit and Monitor an Ethical Culture
Practical article to walk you through a process for creating and maintaining an ethical organizational culture.

Practice in a box
SAICA in partnership with Business Genetics offers SMP’s powerful business tools to understand, standardize and improve your business. Learn more by watching the webinar recording.

”Grow my accounting practice” - Podcast
Insightful podcast discussions to discover brand new strategies to grow your accounting practice

Detailed resources available for new quality management standards
The IAASB published resources explaining all changes to the quality management standards as well as implementation plans.

Developing a separate standard for an audit of less complex entities
The IAASB published a detailed plan for the development of this new standard, including current thinking on what the standard will look like, what entities it will apply to, and the development timeline.

IFAC releases new international standard support resources
Updated support resources have been issued providing guidance relating to the application of the International Standard on Related Services 4400 (Revised), Agreed-Upon Procedures Engagements.

Joint report issued by IRBA, IESBA AND IAAS
Jointly issued staff guidance on navigating the heightened risk of fraud and other illicit activities during the COVID-19 pandemic.