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Navigating the Path to Audit Excellence: An Overview of the IRBA 2025 Public Inspections Report

2026-09-03T16:13:37+02:00

Every year, the IRBA issues its Public Inspections Report to provide the profession with critical insights into topical deficiencies, and trends identified during the inspection of audit firms and engagements. The 2025 report, which was issued in March 2026, serves as a vital tool for auditors to identify gaps within their own practices and implement the remedial measures necessary to address these gaps. A risk-based inspection approach The IRBA continues to employ a risk-based approach to its inspections. The past cycle addressed inspections through three primary avenues: Theme-based inspections Firm-wide inspections The monitoring of [...]

Navigating the Path to Audit Excellence: An Overview of the IRBA 2025 Public Inspections Report2026-09-03T16:13:37+02:00

IFIAR Releases Report on 2025 Annual Survey of Audit Inspection Findings

2026-09-03T16:13:39+02:00

LATEST UPDATE IFIAR Releases Report on 2025 Annual Survey of Audit Inspection Findings The International Forum of Independent Audit Regulators (IFIAR) released a report on the results of its 14th annual survey of inspection findings. These findings arise from its member regulators’ individual inspections of audit firms affiliated with the six largest global audit firm networks (the Global Public Policy Committee networks or GPPC networks). IFIAR collected information about two categories of activities: inspections of firm-wide systems of quality control and inspections of individual audit engagements. IFIAR members from 52 jurisdictions contributed to the 2025 [...]

IFIAR Releases Report on 2025 Annual Survey of Audit Inspection Findings2026-09-03T16:13:39+02:00

IESBA and IAASB Clarify Link Between ISQM 1 and FCG Viewpoints

2026-04-29T13:00:45+02:00

LATEST UPDATE IESBA and IAASB Complete Analysis on Linkages between ISQM 1 and FCG Viewpoints The analysis: Explains linkages and key differences between IESBA’s FCG viewpoints and ISQM 1 Highlights their mutually supportive nature and key differences in their objectives, scope, output and focus Was developed in close coordination with the IAASB, responding to calls from stakeholders. The International Ethics Standards Board for Accountants (IESBA) has released the complete analysis of the linkages, available on: https://www.ethicsboard.org/publications/linkages-between-iesba-viewpoints-and-isqm-1 between the International Standard on Quality Management (ISQM) 1, available on: https://www.iaasb.org/publications/international-standard-quality-management-isqm-1-quality-management-firms-perform-audits-or-reviews and the IESBA’s Firm Culture and Governance [...]

IESBA and IAASB Clarify Link Between ISQM 1 and FCG Viewpoints2026-04-29T13:00:45+02:00

Photographic Evidence

2026-09-03T16:13:39+02:00

When 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 [...]

Photographic Evidence2026-09-03T16:13:39+02:00

Root Cause Analysis – The Root of Many Evils

2026-09-03T11:42:47+02:00

What’s News? Root Cause Analysis – The Root of Many Evils With the advent of ISQM1, ISQM2, and the revised ISA 220, the term, ‘root cause analysis’, has surfaced as a requirement when encountering failures in audit engagements, and within the audit quality management system. During inspections, the IRBA also assists firms with the determination of root causes. It is one of the most important aspects of the quality management system and, therefore, deserves detailed attention. Why do I say that? It is one of the few opportunities for engagement partners, quality leaders and audit teams to have [...]

Root Cause Analysis – The Root of Many Evils2026-09-03T11:42:47+02:00

Key Audit Issues and Emerging Trends in Financial Reporting Compliance

2026-09-03T16:13:40+02:00

Verification 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 [...]

Key Audit Issues and Emerging Trends in Financial Reporting Compliance2026-09-03T16:13:40+02:00

Three Trends Shaping the South African Audit Profession

2026-09-03T16:14:20+02:00

What’s News? As 2026 gets underway, the audit profession in South Africa continues to experience high expectations, scrutiny, and an environment that is evolving more rapidly than many firms would like. Several clear trends are shaping how audit firms need to adapt this year. Audit quality is no longer a project Audit quality remains firmly in the spotlight, particularly through IRBA inspections, investigation of complaints, and the successful issue of fines, with or without disciplinary hearings. Firms that do not embed audit quality in their leadership culture, and do not apply the appropriate resources to aggressively improve to [...]

Three Trends Shaping the South African Audit Profession2026-09-03T16:14:20+02:00

Recap of 2025

2026-09-03T16:14:22+02:00

As we come to the close of 2025, it’s appropriate to reflect on key articles and updates communicated throughout the year. In this article, we identify key takeaways and focus areas for 2026.   Articles The following topics were addressed in the monthly articles issued during 2025: Updates to requirements Audit quality findings Practical application guidance Changes in SAICA Training Regulations (January) Bending the Rules (February) Proactive Audit Quality: A Continuous Improvement Approach under ISQM 1 (March) Audit of Body Corporates and Homeowners’ Associations (April) Professional Scepticism [Business rationale for significant transactions (journal [...]

Recap of 20252026-09-03T16:14:22+02:00

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