IRBA Rules Arising from the International Standards on Quality Management

The Independent Regulatory Board for Auditors (IRBA) has prescribed the IRBA Rules arising from the International Standards on Quality Management, dealing with the following topics.

Rule 1: Ultimate responsibility and accountability for the system of quality management
Rule 2: Transparency reports for firms that audit financial statements of publicly traded entities
Rule 3: Engagement quality reviewer (EQR) and an assistant to an EQR
Rule 4: Assembly and retention of audit documentation

IRBA Rules 1‒3 are effective for audits of financial statements for periods beginning on or after 15 December 2025, while IRBA Rule 4 is effective for audits of financial statements for periods beginning on or after 15 December 2024.

For queries, email IVanker@irba.co.za or standards@irba.co.za