In a significant ruling that affects legal practitioners, the requirement for auditing attorneys' business accounts has been clarified by the courts.

In the complex landscape of international accounting standards, the International Financial Reporting Standards (IFRS) for Small and Medium-sized Entities (SMEs) provide tailored guidelines that acknowledge the unique challenges faced by smaller entities. One significant aspect of these standards is the exemption granted to SMEs regarding the consolidation of their ultimate holding company. Our article explores this topic further, focusing on the requirements under IFRS for SMEs and its implications within the South African accounting environment.

In the dynamic landscape of financial reporting, organizations strive to maintain transparency and credibility by engaging in various forms of assurance services. Two common methods employed are audits and independent reviews. Additionally, management plays a crucial role in the compilation of financial statements, contributing to the overall reliability of financial information.