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Clients’ Use of Service Organisations

2026-04-29T13:31:34+02:00

LATEST UPDATE Clients’ Use of Service Organisations In the latest issue of IRBA News, Issue 73, an article was published on insights and observations on auditing clients' use of service organisations in inspections. The article includes reflections on complexities in audits, where the use of service organisations directly impacts the audit of the user entity's financial statements; references to relevant audit requirements; and common inspections observations. The most common inspections observations include the failure by auditors to identify the use of service organisations, and identification of service organisations without obtaining sufficient audit evidence supporting the [...]

Clients’ Use of Service Organisations2026-04-29T13:31:34+02:00

Pending Disciplinary and Finalised Investigation Matters

2026-04-29T13:27:40+02:00

LATEST UPDATE Pending Disciplinary and Finalised Investigation Matters In the latest issue of IRBA News, Issue 73, eight disciplinary matters pending disciplinary hearings and 22 finalised investigation matters were reported. Current open matters involve eight categories of improper conduct. The most common charge is failure to exercise due care and skill. Other frequent charges include insufficient appropriate audit evidence, dishonesty and integrity issues, as well as non-declaration of assurance work. Tax and accounting issues, independence, the Prevention and Combating of Corrupt Activities Act, and executor or trustee duties make up the remaining categories. In several [...]

Pending Disciplinary and Finalised Investigation Matters2026-04-29T13:27:40+02:00

Highlights from the March 2026 IAASB Meeting

2026-04-29T13:23:42+02:00

LATEST UPDATE Highlights from the March 2026 IAASB Meeting During the IAASB quarterly board meeting, available on: https://www.iaasb.org/meetings/iaasb-quarterly-board-meeting-0, the following was approved: The exposure draft of ISRE 2410 (Revised), available on: https://www.iaasb.org/consultations-projects/review-interim-financial-information-isre-2410 This will be published for public consultation in early May, with a 120-day comment period. The Technology Quality Management Workstream Action Plan to Develop Non-Authoritative Material, available on: chrome-extension://efaidnbmnnnibpcajpcglclefindmkaj/https://www.iaasb.org/_flysystem/azure-private/2026-03/0260316-Agenda-Item-3F-Approved-Tech-QM-Action-Plan.pdf This sets out the scope, approach, governance, and timeline for developing non-authoritative materials to support consistent and effective application of our quality management standards when technological tools enabled by emerging technologies are used in [...]

Highlights from the March 2026 IAASB Meeting2026-04-29T13:23:42+02:00

IFIAR Releases Report on 2025 Annual Survey of Audit Inspection Findings

2026-04-29T13:10:28+02:00

LATEST UPDATE IFIAR Releases Report on 2025 Annual Survey of Audit Inspection Findings The International Forum of Independent Audit Regulators (IFIAR) released a report on the results of its 14th annual survey of inspection findings. These findings arise from its member regulators’ individual inspections of audit firms affiliated with the six largest global audit firm networks (the Global Public Policy Committee networks or GPPC networks). IFIAR collected information about two categories of activities: inspections of firm-wide systems of quality control and inspections of individual audit engagements. IFIAR members from 52 jurisdictions contributed to the 2025 [...]

IFIAR Releases Report on 2025 Annual Survey of Audit Inspection Findings2026-04-29T13:10:28+02:00

Photographic Evidence

2026-04-01T10:31:09+02:00

When an auditor obtains photographic evidence to support audit procedures, the requirements for audit evidence need to be considered, i.e. Sufficient and appropriate Relevant and reliable Accurate and complete Sufficiently precise for purpose It should be kept in mind that evidence is persuasive, rather than conclusive. ISA 200 para 5: ‘As the basis for the auditor’s opinion, ISAs require the auditor to obtain reasonable assurance about whether the financial statements as a whole are free from material misstatement, whether due to fraud or error. Reasonable assurance is a high level of assurance. It is [...]

Photographic Evidence2026-04-01T10:31:09+02:00

Key Audit Issues and Emerging Trends in Financial Reporting Compliance

2026-03-31T16:37:47+02:00

Your Content Goes Here Verification of compliance with the financial reporting framework Auditors frequently make use of disclosure checklists to verify compliance with the requirements of the relevant financial reporting framework. When making use of such checklists, it is very important to document the auditor’s considerations in support of the ‘Yes’, ‘No’ or ‘N/A’ answers provided. If there is no or insufficient support documented, the audit work is not re-performable, which is non-compliant with ISA 230 and makes it very difficult to check whether conclusions documented are correct under the circumstances. Incorrect conclusions regarding compliance with the financial reporting [...]

Key Audit Issues and Emerging Trends in Financial Reporting Compliance2026-03-31T16:37:47+02:00

Changes in the SAICA Training Regulations

2026-02-03T14:55:56+02:00

SAICA recently issued their 2026 SAICA Training Regulations, effective from 1 January 2026. Training officers must ensure that the current version of the training regulations is communicated to all role-players in the training programme, so that it may be applied, in relation to their responsibilities. An overview of the most significant changes from the previous version of the training regulations is provided below.   Key Changes in ISA 570 (Revised 2024) The terminology in the training regulations was aligned with the terminology used in the SAICA Training Programme and editorial consistency was applied [...]

Changes in the SAICA Training Regulations2026-02-03T14:55:56+02:00

Audit Issues & Trends to Consider

2026-01-29T16:35:45+02:00

Your Content Goes Here Failure to assess non-compliance under NOCLAR and report RIs It was found that auditors often do not assess non-compliance as required. This is a two-stage, escalating obligation: NOCLAR per Section 360 of the IRBA Code: Requires auditors to identify, evaluate, and respond to actual or suspected non-compliance with laws and regulations (NOCLAR). Non-compliance may have a material effect on the financial statements, or may be fundamental to the entity's business (e.g. fraud, bribery and environmental breaches). Reportable Irregularity (RI) per APA Section 45: This is a specific, more severe subset of NOCLAR. An RI is [...]

Audit Issues & Trends to Consider2026-01-29T16:35:45+02:00

Three Trends Shaping the South African Audit Profession

2026-01-29T16:24:47+02:00

What’s News? Your Content Goes Here As 2026 gets underway, the audit profession in South Africa continues to experience high expectations, scrutiny, and an environment that is evolving more rapidly than many firms would like. Several clear trends are shaping how audit firms need to adapt this year. Audit quality is no longer a project Audit quality remains firmly in the spotlight, particularly through IRBA inspections, investigation of complaints, and the successful issue of fines, with or without disciplinary hearings. Firms that do not embed audit quality in their leadership culture, and do not apply the appropriate resources [...]

Three Trends Shaping the South African Audit Profession2026-01-29T16:24:47+02:00

IESBA launches Firm Culture and Governance Viewpoints 

2026-01-29T15:56:12+02:00

LATEST UPDATE IESBA launches Firm Culture and Governance Viewpoints  The International Ethics Standards Board for Accountants (IESBA) recently launched its viewpoints on firm culture and governance, initiating a six-month global dialogue on ethical culture focusing on the 2028 – 2031 strategy, sustainability ethics, firm governance, private equity, technology, and emerging risks and trends. The IESBA Viewpoints, Firm Culture and Governance Dialogues, is an IESBA publication designed to support global, dialogue-driven engagement on the organisational drivers of ethical behaviour in accounting firms. Building on IESBA’s Viewpoints across eight core elements of firm culture and governance, the [...]

IESBA launches Firm Culture and Governance Viewpoints 2026-01-29T15:56:12+02:00
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