LATEST UPDATE

Pending Disciplinary and Finalised Investigation Matters

In the latest issue of IRBA News, Issue 72, six disciplinary matters pending disciplinary hearings and 20 finalised investigation matters were reported.

Current open matters involve eight categories of improper conduct. The most common charge remains insufficient appropriate audit evidence. Other frequent charges include dishonesty and integrity issues, as well as failure to exercise due care and skill.

In several investigation matters, among others, sufficient, appropriate audit evidence was not obtained for material balances and disclosures; material misstatements were not appropriately identified, evaluated and addressed; appropriate professional scepticism was not exercised; incomplete Annual Assurance Work Declarations were submitted to the IRBA; non-compliance and reportable irregularities were not considered; audit reports were signed while being registered as non-assurance; and self-review threats were not identified, evaluated and addressed.

This issue may be accessed on:
www.irba.co.za/upload/IRBA%20News%20Issue%2072.pdf