Council for Medical Schemes Publication that Impacts Auditor’s Reports
There has been a recent regulatory development subsequent to a previous communication on 28 March 2024, in respect of the revisions to the IFRS Foundation® Trade Mark Guidelines, which is available on:
The Council for Medical Schemes (CMS) has issued Circular 15 of 2024, titled ‘IFRS Foundation trademark impact on auditor report templates’, available on:
This circular informs stakeholders about the publication of the revised prescribed auditor report templates for medical schemes, effective for auditor’s reports of annual reporting periods of medical schemes beginning on 1 January 2023.
Consequently, the Independent Regulatory Board for Auditors (IRBA) has revised the health warning included in the Revised Guide for Registered Auditors: Assurance Engagements on the Annual Financial Statements and Annual Statutory Returns of a Medical Scheme (updated for narrow-scope amendments made to IAS 1). The amended health warning may be accessed on:
- Medical schemes engagements – IRBA
- Guides and Circulars for Auditors ‒ IRBA
Please contact the CMS directly regarding any queries.