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This approach states that the auditor has liability under ordinary negligence if the third party is known to be using the financial statements and there has been some sort of direct communication between the two parties. [12] An example could be the auditor directly giving a report to the bank that will be providing the loan for an actual client.
SAFLII was formally created in 2002 as a joint project between the Australasian Legal Information Institute (AustLII) and the University of Witwatersrand (Wits) in Johannesburg, South Africa. In 2006 the South African Constitutional Court Trust assumed ownership of the project. The website at the time of this transition carried approximately ...
The Independent Regulatory Board for Auditors (IRBA), formerly known as Public Accountants and Auditors Board (PAAB), is a statutory body controlling public accountancy in the Republic of South Africa. The designation conferred by IRBA is Registered Auditor (RA).
The SALJ was established in Grahamstown in 1884, making it one year older than England's Law Quarterly Review and three years older than the Harvard Law Review. [3] Its first 17 volumes were published under the title Cape Law Journal, before its name was changed to the South African Law Journal in 1901.
The South African Institute of Chartered Accountants (SAICA), South Africa’s pre-eminent body for accountants. The institute provides a wide range of support services to more than 48,000 members and associates who are chartered accountants (CAs(SA)), as well as associate general accountants (AGAs(SA)) and accounting technicians (ATs(SA)).
At the Ontario Superior Court of Justice, Deloitte was held to have been negligent, and Gans J awarded damages totalling $84,750,000 to Livent.In so doing, he observed that the standard of care is based on the profession's generally accepted auditing standards, and that the current state of Canadian jurisprudence concerning an auditor's duty can be expressed as follows: [8]
South African administrative law is the branch of public law which regulates the legal relations of public authorities, whether with private individuals and organisations or with other public authorities, [1] or better say, in present-day South Africa, which regulates "the activities of bodies that exercise public powers or perform public functions, irrespective of whether those bodies are ...
The concept of materiality is applied by the auditor both in planning and performing the audit, and in evaluating the effect of identified misstatements on the audit and of uncorrected misstatements, if any, on the financial statements and in forming the opinion in the auditor’s report. [11]