LATEST UPDATE

The Independent Regulatory Board for Auditors’ (IRBA) Committee for Auditing Standards (CFAS) has approved the issuing of the Exposure Draft (ED): Proposed Guide (Revised 20XX) for Registered Auditors: Assurance Engagements on the Annual Financial Statements and Annual Statutory Returns of a Medical Scheme (proposed Guide), available on the IRBA website.

This proposed Guide provides practical guidance to registered auditors on conducting an assurance engagement on the annual financial statements and annual statutory returns of a medical scheme. The guidance relates to understanding the nature and characteristics of a medical scheme, and the nature and extent of work on the engagement.

The proposed effective date of the Guide (Revised XXXX) is for engagements on accounting periods ending on or after 31 December 2026.

Respondents should email their feedback to standards@irba.co.za by 27 August 2026. To download the ED, visit the IRBA website.

For queries, or a copy of the Guide, email standards@irba.co.za.