"Earn the license that distinguish you as a licensed independent reviewer"

Licensed Independent Reviewer

Stand-alone license

This license is accredited by CIBA and authorises the member to perform a specialist service within the standards of engagements as set by CIBA.

The license is not the equivalent of a designation nor a qualification.

Purpose of the license

• Equip business accountants in practice to perform independent reviews with confidence.

Assessing the competence of designated members to providing quality independent review services.

After completing this license the designated member will be:

able to obtain the license you need to provide evidence of competence in the specialist area. This evidence is presented by passing an exam. The exam is set by an independent industry expert and accredited by CIBA.

exposed to the necessary skills to fulfil their statutory duties in terms of section 30(7)(b) and regulation 29 of the Act and Regulations.

exposed to the necessary skills to apply standards of conduct, quality control and ISRS 2400 in performing an independent review.

The following topics are covered in the license

• Study unit 1:

Introductions and definitions

• Study unit 2:

Code Of Conduct Applicable To Reviewers

Quality Control Standards Applicable To Reviewers

• Study unit 3:

Accepting the client

• Study unit 4:

Performing the engagement

• Study unit 5:

Completing the engagement

• Study unit 6:

Issuing a report

Why a license for independent reviewers

• The Companies Act, 71 of 2008 requires certain companies to be audited and others to have their financial statements independently reviewed by an independent reviewer. An independent review is an alternative to the audit but still allows an opinion to be expressed on the financial statements. Independent reviews have to be performed in terms of the International Standard on Review Engagements 2400 by a qualified independent reviewer.
• The Licence: Independent Review Engagements is a pre-requisite for a BAP(SA) to obtain CIPC recognition and registration as an independent reviewer and perform independent reviews.

If you want to perform independent reviews you have to be licensed

The Licensed Independent Reviewer (LIR) is a professional license that is awarded to:

• members of CIBA, that has
• obtained a BAP(SA) designation, and who
• wants to perform independent reviews and other review services, and
• has a minimum of 2 years of relevant post-designation experience

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