Barriers to the adoption of independent reviews by non-public interest entities in South Africa :the current perceptions of South African professional accountants

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dc.contributor.authorNyambuya, Kudzinetsa
dc.date.accessioned2020-09-15T11:23:39Z
dc.date.available2020-09-15T11:23:39Z
dc.date.issued2019
dc.descriptionA research report submitted to the Faculty of Commerce, Law and Management, University of the Witwatersrand, Johannesburg, in partial fulfilment of the requirements for the degree of Masters of Commerce (Accountancy), 2019en_ZA
dc.description.abstractOrientation: The South African Companies Act no. 71 of 2008 introduced independent reviews as an additional form of providing assurance for the non-public interest entities (non-PIEs) with the aim of reducing the reporting burden. Despite the Companies Act becoming effective on 1 May 2011, some companies which qualify for independent reviews still opt to have their annual financial statements (AFS) audited. Research aim: The purpose of this study is to gain an understanding of the reasons that companies which qualify for independent reviews still select to have their AFS audited when there is a less burdensome option. The main research question is directed towards investigating why audits are still preferred to independent reviews and the barriers to the selection of independent reviews. Motivation of the study: Small and medium-sized enterprises (SMEs) play a crucial role in the South African economy so it is critical to ascertain whether the independent review option is meeting its goal of reducing the reporting burden. The feedback provided assists the government in developing and updating strategies meant to support SMEs. Research approach and method: The research follows a qualitative approach within an interpretive paradigm where the data were collected from a series of nineteen detailed semi-structured interviews with a sample of South African professional accountants with the relevant experience on the subject matter. Main findings: The main findings indicate that audits are retained due to the need of small companies to reduce agency costs and appease the demands of various stakeholders, specifically lenders, lack of knowledge and guidance from practitioners regarding independent reviews, independent reviews being compared to audits, misconceptions and the resistance to change. Contributions of the study: This study contributes to providing an understanding of the barriers to the successful adoption of independent reviews and also recommendations on how acceptance of independent reviews can be improved to meet the purpose of reducing reporting burden for non-PIEs in South Africa.en_ZA
dc.description.librarianXN2020en_ZA
dc.facultyFaculty of Commerce, Law and Managementen_ZA
dc.format.extentOnline resource (76 leaves)
dc.identifier.citationNyambuya, Kudzinetsa (2019) Barriers to the adoption of independent reviews by non-public interest entities in South Africa: the current perceptions of South African professional accountants, University of the Witwatersrand, Johannesburg, <http://hdl.handle.net/10539/29659>
dc.identifier.urihttps://hdl.handle.net/10539/29659
dc.language.isoenen_ZA
dc.rights.holderUniversity of the Witswatersrand, Johannesburg
dc.schoolSchool of Accountancyen_ZA
dc.subjectUCTD
dc.subjectAgency cost
dc.subjectAssurance
dc.subjectAudit
dc.subjectIndependent review
dc.subjectNon-public interest entities
dc.subjectProfessional accountant
dc.subject.lcshAccountants--South Africa
dc.subject.lcshManagement
dc.subject.otherSDG-8: Decent work and economic growth
dc.titleBarriers to the adoption of independent reviews by non-public interest entities in South Africa :the current perceptions of South African professional accountantsen_ZA
dc.typeDissertationen_ZA
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