Pending Disciplinary and Finalised Investigation Matters
LEAF Quality Systems (Pty) Ltd2026-08-28T13:55:36+02:00CIPC Notice 35 of 2026 clarifies transitional provisions for sections 30A and 30B of the amended Companies Act.
Exposure Draft: Proposed SAAPS 3 (Revised XXX 2026), Illustrative Reports
LEAF Quality Systems (Pty) Ltd2026-07-01T18:51:59+02:00LATEST UPDATE Exposure Draft: Proposed SAAPS 3 (Revised XXX 2026), Illustrative Reports The Independent Regulatory Board for Auditors’ Committee for Auditing Standards has approved the issuing of the proposed South African Auditing Practice Statement (SAAPS) 3 (Revised XXX 2026), Illustrative Reports, for exposure on public comment by 7 August 2026. The proposed SAAPS 3 (Revised) includes significant revisions to SAAPS 3, including the following. The incorporation of new and revised reporting requirements arising from: ISA 570 (Revised 2024), Going Concern ISA 240 (Revised), The Auditor’s Responsibilities Relating to Fraud in an Audit of Financial Statements [...]
Pending Disciplinary and Finalised Investigation Matters
LEAF Quality Systems (Pty) Ltd2026-09-03T16:13:38+02:00LATEST UPDATE Pending Disciplinary and Finalised Investigation Matters In the latest issue of IRBA News, Issue 73, eight disciplinary matters pending disciplinary hearings and 22 finalised investigation matters were reported. Current open matters involve eight categories of improper conduct. The most common charge is failure to exercise due care and skill. Other frequent charges include insufficient appropriate audit evidence, dishonesty and integrity issues, as well as non-declaration of assurance work. Tax and accounting issues, independence, the Prevention and Combating of Corrupt Activities Act, and executor or trustee duties make up the remaining categories. In several [...]
IRBA Public Inspections Report on Audit Quality 2025 (Issued 2026)
LEAF Quality Systems (Pty) Ltd2026-05-15T14:06:53+02:00Understanding key audit quality findings, trends, and remedial actions Back by popular demand!   Overview The Independent Regulatory Board for Auditors (IRBA), South Africa’s audit regulator, is widely regarded as a leader in audit oversight and regulation. Its Annual Public Inspections Report provides critical insights into audit quality, highlighting common deficiencies, emerging risks, and industry trends identified during firm inspections. In an environment where the audit profession is under increasing scrutiny, maintaining high standards of audit quality is essential. The IRBA report serves as a valuable tool for audit firms to assess their own [...]
IRBA Public Inspections Report on Audit Quality 2025 (Issued 2026)
LEAF Quality Systems (Pty) Ltd2026-05-07T10:52:02+02:00Understanding key audit quality findings, trends, and remedial actions Overview The Independent Regulatory Board for Auditors (IRBA), South Africa’s audit regulator, is widely regarded as a leader in audit oversight and regulation. Its annual Public Inspections Report provides critical insights into audit quality, highlighting common deficiencies, emerging risks, and industry trends identified during firm inspections. In an environment where the audit profession is under increasing scrutiny, maintaining high standards of audit quality is essential. The IRBA report serves as a valuable tool for audit firms to assess their own practices, identify weaknesses, and implement effective [...]
Photographic Evidence
LEAF Quality Systems (Pty) Ltd2026-09-03T16:13:39+02:00When an auditor obtains photographic evidence to support audit procedures, the requirements for audit evidence need to be considered, i.e. Sufficient and appropriate Relevant and reliable Accurate and complete Sufficiently precise for purpose It should be kept in mind that evidence is persuasive, rather than conclusive. ISA 200 para 5: ‘As the basis for the auditor’s opinion, ISAs require the auditor to obtain reasonable assurance about whether the financial statements as a whole are free from material misstatement, whether due to fraud or error. Reasonable assurance is a high level of assurance. It is [...]
Key Audit Issues and Emerging Trends in Financial Reporting Compliance
LEAF Quality Systems (Pty) Ltd2026-09-03T16:13:40+02:00Verification of compliance with the financial reporting framework Auditors frequently make use of disclosure checklists to verify compliance with the requirements of the relevant financial reporting framework. When making use of such checklists, it is very important to document the auditor’s considerations in support of the ‘Yes’, ‘No’ or ‘N/A’ answers provided. If there is no or insufficient support documented, the audit work is not re-performable, which is non-compliant with ISA 230 and makes it very difficult to check whether conclusions documented are correct under the circumstances. Incorrect conclusions regarding compliance with the financial reporting framework requirements may lead [...]
Pending Disciplinary and Finalised Investigation Matters
LEAF Quality Systems (Pty) Ltd2026-09-03T16:14:21+02:00LATEST UPDATE Pending Disciplinary and Finalised Investigation Matters In the latest issue of IRBA News, Issue 72, six disciplinary matters pending disciplinary hearings and 20 finalised investigation matters were reported. Current open matters involve eight categories of improper conduct. The most common charge remains insufficient appropriate audit evidence. Other frequent charges include dishonesty and integrity issues, as well as failure to exercise due care and skill. In several investigation matters, among others, sufficient, appropriate audit evidence was not obtained for material balances and disclosures; material misstatements were not appropriately identified, evaluated and addressed; appropriate professional [...]
Pending Disciplinary and Finalised Investigation Matters
Leaf Quality Systems2025-11-26T12:21:36+02:00LATEST UPDATE Pending Disciplinary and Finalised Investigation Matters In the latest issue of IRBA News, Issue 71, six disciplinary matters pending disciplinary hearings and 16 finalised investigation matters were reported. Current open matters involve eight categories of improper conduct. The most common charge remains insufficient appropriate audit evidence. Other frequent charges include dishonesty and integrity issues, as well as failure to exercise due care and skill. In several investigation matters, among others, sufficient, appropriate audit evidence was not obtained for material balances and disclosures; material misstatements were not appropriately identified, evaluated and addressed; a risk [...]