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The following statement of copyright is applicable to all learning content on the API Learning platform, unless explicitly indicated otherwise. 

Copyright © [April, 2020] International Federation of Accountants (IFAC). All rights reserved. Used with permission of IFAC. Contact for permission to reproduce, store or transmit, or to make other similar uses of this document.

IFAC is the global organization for the accountancy profession dedicated to serving the public interest by strengthening the profession and contributing to the development of strong international economies. IFAC is comprised of over 175 members and associates in more than 130 countries and jurisdictions, representing almost 3 million accountants in public practice, education, government service, industry, and commerce.

The African Organisation of English-speaking Supreme Audit Institutions is an autonomous, independent and non-political institution with membership from 26 supreme audit institutions.  AFROSAI-E is acting on behalf of the African Professionalisation Initiative, a collaboration between AFROSAI-E, the East and South African Association of Accountants General (ESAAG) and the Pan African Federation of Accountants (PAFA). The African Professionalisation Initiative is working to build capacity of competent accountancy professionals in the public sector.


The “International Auditing and Assurance Standards Board”, “International Standards on Auditing”, “IAASB”, “ISA”, “International Public Sector Accounting Standards Board”, “International Public Sector Accounting Standards”, “IPSASB”, “IPSAS”, “International Ethics Standards Board for Accountants”, “International Code of Ethics for Professional Accountants”, “International Independence Standards”, “IESBA”, “International Federation of Accountants”, “IFAC” and their respective logos are trademarks or registered trademarks and service marks of IFAC in the US and other countries

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This course contains copyright material of the IFRS® Foundation in respect of which all rights are reserved. Reproduced by AFROSAI-E with the permission of the IFRS Foundation. No permission granted to third parties to reproduce or distribute. For full access to IFRS Standards and the work of the IFRS Foundation please visit

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Last modified: Tuesday, 1 December 2020, 10:32 AM