IRBA Board Adopts Narrow-scope Amendments to ISA 700 (Revised) and ISA 260 (Revised)

In January 2024, the Independent Regulatory Board for Auditors’ (IRBA) Board approved the International Auditing and Assurance Standards Board’s (IAASB) narrow-scope amendments to International Standard on Auditing (ISA) 700 (Revised), Forming an Opinion and Reporting on Financial Statements, and ISA 260 (Revised), Communication with Those Charged with Governance as a Result of the Revisions to the IESBA Code that Require a Firm to Publicly Disclose When a Firm Has Applied the Independence Requirements for Public Interest Entities (PIEs) for adoption, issue and prescription by registered auditors in South Africa. These amendments are available on:

The recent changes to the IESBA Code require firms to publicly disclose when the independence requirements for PIEs have been applied in an audit of financial statements. These amendments to the ISAs provide a clear mechanism to action this new requirement.

The narrow-scope amendments are effective for audits of financial statements for periods beginning on or after 15 December 2024. For queries, contact the Standards Department by emailing