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
Overview of the IFRS for SMEs Accounting Standard 2025 Update
Your Content Goes Here On 27 February 2025, the International Accounting Standards Board (IASB) issued the third edition of the IFRS for SMEs® Accounting Standard. This edition aligns SME accounting more [...]
Audit Issues & Trends to Consider
Audit Issues & Trends Your Content Goes Here Audit issues and trends to consider: Auditing accounting estimates Every set of financial statements contains accounting estimates made by management. Estimates may, however, contain [...]
Professional Scepticism
Your Content Goes Here Misstatements in financial statements originate from errors or fraud. The risks of these occurring can only be appropriately determined with a thorough understanding of circumstances, systems [...]
Audit Issues & Trends to Consider
Audit Issues & Trends Your Content Goes Here Audit issues and trends to consider: Corroborating evidence for client discussions Enquiry is an audit procedure used extensively throughout the audit, in addition to [...]
Audit Issues & Trends to Consider
Audit Issues & Trends Your Content Goes Here Audit issues and trends to consider: Going concern South Africa’s persistent economic challenges, including load shedding, high unemployment, inflationary pressures, political uncertainty, and constrained [...]
Audit of Body Corporates and Homeowners’ Associations
Your Content Goes Here Difference between body corporates and homeowners’ associations While both body corporates and homeowners’ associations fall under Community Schemes Ombud Service (CSOS) regulations, homeowners’ associations are [...]