IRBA Rules Arising from the ISQM
The IRBA has prescribed the IRBA Rules arising from the ISQM, 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.
Recent Articles
Newsletter February 2025
Bending the Rules Auditors often find themselves in a delicate situation where an audit client wants a certain outcome, while the rules do not allow it. The correct treatment is [...]
Newsletter January 2025
Changes in SAICA Training Regulations SAICA recently issued their updated SAICA 2025 Training Regulations, effective from 1 January 2025. Training officers must ensure that the current version of the training [...]
Newsletter November 2024
Audit Implications of IFRS 18 In the constantly evolving field of financial reporting, auditors must stay abreast of significant changes in accounting standards to ensure accurate and compliant financial statements. [...]
Newsletter October 2024
IRBA EAR Rule The IRBA Rule on Enhanced Auditor Reporting for the audit of financial statements of public interest entities (EAR Rule) was published in the Government Gazette on 15 [...]
Newsletter September 2024
Providing Accounting Services to Audit Clients Many audit firms provide financial statement preparation services to voluntary audit clients through accounting staff and engagement partners that do not form part of [...]
Guidance on Beneficial Ownership, in Terms of Section 21b of the FIC Act
Guidance on Beneficial Ownership, in Terms of Section 21b of the FIC Act The FIC has published PCC 59, which offers accountable institutions guidance on compliance with the beneficial ownership [...]