Agenda NOTICE IS HEREBY GIVEN OF A MEETING OF by DaronMackey

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									Agenda




NOTICE IS HEREBY GIVEN
OF A MEETING
OF THE                          :   AUDITING GUIDANCE COMMITTEE
                                    (AGC)

DATE                            :   WEDNESDAY, 13 MAY 2009

TIME                            :   10H00 – 13H00

VENUE                           :   TAU ROOM,
                                    SAICA, 7 ZULBERG CLOSE,
                                    BRUMA LAKE

COMMITTEE MEMBERS
    Devon Duffield              :   Chairman - KPMG
       Vincenzo Paino           :   Ernst & Young
       Petunia Mthimunye        :   Eskom
       Ahmed Timol              :   Grant Thornton
       Edwin Selbst             :   Horwath Leveton Boner
       Willie Botha                 Mervitz and Malan Chartered
                                    Accountants
       Gerda Janse van Vuuren   :   Nampak
       Hayley Newton-Holroyd    :   RW Irish - Alliott Inc.
       Nirupa Padia             :   University of the Witwatersrand

EX-OFFICIO
     Ewald Müller               :   SAICA Senior Executive – Standards
       Ashley Vandiar           :   SAICA Project Director – Auditing
       Eugene Modiha            :   SAICA Project Manager –Auditing



BY INVITATION

       Thingle Pather           :   KPMG
       Sandy van Esch           :   IRBA Director: Standards

ALL COMMITTEE MEMBERS AND OTHER AUTHORISED PERSONS READING THIS
AGENDA AND ATTACHMENTS ARE REMINDED THAT THEY ARE DOING SO IN AN
OFFICIAL CAPACITY AND ARE REQUESTED TO RESPECT THE CONFIDENTIALITY
THEREOF.
                                      2

1.   WELCOME AND APOLOGIES

     To WELCOME members and NOTE apologies, if any.
                                                                   D Duffield

2.   PREVIOUS MINUTES

     2.1   To CONSIDER and, if thought fit, APPROVE the minutes of the
           previous meeting held on 10 March 2009.
                                                         Attachment 1
                                                            D Duffield

     2.2   To CONSIDER any matters arising from the minutes not dealt with
           elsewhere on the agenda.
                                                            Attachment 2
                                                               D Duffield

3.   ETHICS

     To CONSIDER what ethical issues, if any, are currently being faced by
     members of the committee.
                                                                D Duffield

4.   REVISED GUIDE ON TRADING WHILE FACTUALLY INSOLVENT

     4.1   To NOTE the revised guidance on Trading While Factually Insolvent.
                                                                 Attachment 3
                                                                     A Vandiar

     4.2   To CONSIDER, DISCUSS and provide relevant comments.
                                                                   D Duffield

5.   DISCUSSION PAPER ON PRACTICE REVIEW FUNDING

     5.1 To NOTE the Discussion Paper on Practice Review Funding.
                                                               Attachment 4
                                                                   E Müller

     5.2   To CONSIDER, DISCUSS and provide relevant comments.
                                                                   D Duffield

6.   DISCUSSION PAPER ON REVIEW ENGAGEMENTS

     6.1   To NOTE the Discussion Paper on Review Engagements (including
           thresholds).
                                                          Attachment 5
                                                               E Müller

     6.2   To CONSIDER, DISCUSS and provide relevant comments.
                                                                   D Duffield
                                        3

7.    REPORT OF THE INDEPENDENT AUDITOR IN TERMS OF THE
      TELEVISION  LICENCE      REGULATIONS      UNDER THE
      BROADCASTING ACT NO 4 OF 1999, AS AMENDED

      5.1   To NOTE the proposed Report of the Independent Auditor in terms of
            the Television Licence Regulations.
                                                                Attachment 6
                                                                     W Botha

      5.2   To CONSIDER, DISCUSS and APPROVE for publishing.
                                                                     D Duffield

8.    GOING CONCERN ASSUMPTION

      6.1   To NOTE the draft Going Concern Tool-kit for Small Medium Practices.
                                                                  Attachment 7
                                                                     A Vandiar

      6.2   To CONSIDER, DISCUSS and provide relevant comments
                                                                     D Duffield

9.    PRONOUNCEMENTS AND WORK PROGRAMME

      To NOTE and CONSIDER the IAASB and IRBA’s work programmes.
                                                           Attachment 8
                                                              A Vandiar

10.   KING III

      10.1 To NOTE feedback relating to the status of KING III and SAICA’s
           comment letter
                                                               Attachment 9
                                                                   E Müller

      10.2 To NOTE feedback on the paragraph on assurance in interim reports as
           included in the KING III code.
                                                                    A Vandiar

11.   COMPANIES ACT

      To NOTE a verbal report back on the status of the Companies Act, no. 71 of
      2008.
                                                                       E Müller
                                         4


12.   SAICA ACTIVITIES

      To NOTE a verbal report on activities of SAICA Standards Division of
      relevance to the AGC.
                                                                         E Müller

13.   AUDIT GUIDANCE COMMITTEE EVALUATION QUESTIONNAIRE

      To NOTE and DISCUSS the results of the Audit Guidance Committee
      evaluation questionnaire.
                                                                   D Duffield

14.   JSE LISTING REQUIREMENTS FEEDBACK

      To NOTE a verbal report on the JSE Listing Requirements.
                                                                      S van Esch

15.   PRO-FORMA FINANCIAL INFORMATION & PROFIT FORECAST

      To NOTE a verbal report on the status of the project to update the guides on
      Pro-forma Financial Information & Profit Forecast.
                                                                       S van Esch

16.   IRBA FEEDBACK

      To NOTE verbal feedback from IRBA, including feedback from the April
      meeting of Auditing National Standards Setters.
                                                                    S van Esch

17.   OTHER MATTERS

      With the permission of the chairman, to CONSIDER any matters not dealt
      with elsewhere on the agenda.
                                                                 D Duffield

18.   FUTURE MEETINGS

      To NOTE that the meeting dates for 2009, are as follows:

      o Wednesday, 12 August 2009 from 10H00 – 13H00 at SAICA’s offices,
      o Wednesday, 11 November 2009 from 10H00 – 13H00 at SAICA’s offices
        followed by lunch
                                                                 D Duffield
                     5


PREPARED BY    :   EUGENE MODIHA
                   PROJECT MANAGER – AUDITING
                   28 APRIL 2009

REVIEWED BY:       ASHLEY VANDIAR
                   PROJECT DIRECTOR – AUDITING AND
                   MEMBER ADVICE
                   28 APRIL 2009

APPROVED BY:       DEVON DUFFIELD
                   CHAIRMAN
                   06 MAY 2009

ISSUED         :   06 MAY 2009

#259452

								
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