CIPC Notice 35 of 2026 clarifies transitional provisions for sections 30A and 30B of the amended Companies Act.
CIPC Notice 35 of 2026 clarifies transitional provisions for sections 30A and 30B of the amended Companies Act.
CIPC Notice 35 of 2026 clarifies transitional provisions for sections 30A and 30B of the amended Companies Act.
IRBA issues an exposure draft guide for registered auditors on medical scheme assurance engagements. Comments are due by 27 August 2026.
LATEST 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 [...]
LATEST UPDATE IRBA Anonymous Tip-Offs The IRBA has created a separate email address to receive tip-offs. Tip-offs and other relevant information from the public are seen as important sources for the IRBA’s regulatory mandate. Information may be provided anonymously. The primary benefit of such a process is enhanced proactiveness of the risk-based inspections approach, which is already implemented in international jurisdictions, where tip-offs are received anonymously. Some information received through this process may yield similar proactive benefits for other IRBA departments, ultimately assisting in earlier regulatory intervention. Anonymous tip-offs are expected to empower those who [...]
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 [...]
LATEST UPDATE Clients’ Use of Service Organisations In the latest issue of IRBA News, Issue 73, an article was published on insights and observations on auditing clients' use of service organisations in inspections. The article includes reflections on complexities in audits, where the use of service organisations directly impacts the audit of the user entity's financial statements; references to relevant audit requirements; and common inspections observations. The most common inspections observations include the failure by auditors to identify the use of service organisations, and identification of service organisations without obtaining sufficient audit evidence supporting the [...]
LATEST 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 [...]
LATEST UPDATE New IRBA Data Shows how Independence, Resourcing and Review Practices are Shaping Audit Quality in South Africa The Independent Regulatory Board for Auditors (IRBA) has released its 2025 Audit Quality Indicators (AQI) Survey Report, providing insights into the key operational and behavioural factors that influence audit quality across audits of public interest entities in South Africa. Now in its seventh year, the AQI Survey draws on data submitted by 14 audit firms covering some 536 completed public interest entity audits. The 2025 results highlight how decisions relating to auditor independence, resourcing, supervision and [...]
