Tag: Hayley Barker Hoogwerf

The South African and other global economies have fallen victim to corporate failures that resulted in devastating effects on investors and the public. When such corporate failures do occur, the role of the auditor is often brought under scrutiny; particularly as it relates to the role of the auditor in detecting fraud, resulting in an increased focus on the audit expectation gap.

COVID-19 has taken the world by storm, so much so that plunges in global stock markets are making history in terms of the low levels being hit, as well as the speed at which the collapses are occurring. For the first time in history, the US oil prices fell below zero. From travel bans and cancelled sporting events to national lockdowns, COVID-19 has influenced global and personal realities.

The South African Institute of Chartered Accountants (SAICA) recently hosted representatives from the International Auditing and Assurance Standards Board (IAASB) and received first-hand feedback on their work relating to quality control and related projects, with touchpoints regarding audit quality and how this is set to affect practice going forward.