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Pending Disciplinary and Finalised Investigation Matters

2026-01-29T15:32:53+02:00

LATEST 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 Matters2026-01-29T15:32:53+02:00

IRBA Adopts the International Standard on Auditing 240 (Revised)

2025-12-09T14:22:33+02:00

LATEST UPDATE IRBA Adopts the International Standard on Auditing 240 (Revised) The Independent Regulatory Board for Auditors (IRBA) announced the adoption, issue and prescription of the International Standard on Auditing (ISA) 240 (Revised), The Auditor’s Responsibilities Relating to Fraud in an Audit of Financial Statements (ISA 240 (Revised)), for use by registered auditors in South Africa. This follows the International Auditing and Assurance Standards Board’s (IAASB) release of ISA 240 (Revised) in July 2025. Recent high-profile corporate failures have intensified the public scrutiny of auditors’ responsibilities relating to fraud. As a result, the IAASB undertook [...]

IRBA Adopts the International Standard on Auditing 240 (Revised)2025-12-09T14:22:33+02:00

Revised Illustrative Reports and Applicability of the EAR Rule

2025-12-09T14:23:17+02:00

LATEST UPDATE Revised Illustrative Reports and Applicability of the EAR Rule The Independent Regulatory Board for Auditors’ (IRBA) Committee for Auditing Standards (CFAS) has approved the issuing of the revised illustrative reports for use by registered auditors when reporting on regulatory returns for banks, mutual banks, insurers and medical schemes, available on: https://www.irba.co.za/guidance-to-ras/technical-guidance-for-auditors/industry-specific-guides-and-regulatory-reports The narrow-scope amendments to ISA 700 (Revised) operationalise the changes to the IESBA Code related to PIEs. These changes, adopted into the IRBA Code, require firms to publicly disclose when the independence requirements for PIEs have been applied in an audit of [...]

Revised Illustrative Reports and Applicability of the EAR Rule2025-12-09T14:23:17+02:00

IRBA Annual Report 2025 Tabled in Parliament: A Milestone Year

2025-11-28T13:47:36+02:00

LATEST UPDATE IRBA Annual Report 2025 Tabled in Parliament: A Milestone Year The Independent Regulatory Board for Auditors (IRBA) has officially tabled its Annual Report for the 2024/2025 financial year before the Standing Committee of Finance in Parliament, marking the conclusion of its five-year strategic cycle. The Annual Report reflects a year of significant progress in restoring trust with key stakeholders, enhancing oversight effectiveness, and fostering transparency within the profession. Key highlights include: Strategic Transition Audit Quality Improvements Transformation and Talent Development Regulatory Advancements Stakeholder Engagement. The IRBA also received a clean audit opinion from [...]

IRBA Annual Report 2025 Tabled in Parliament: A Milestone Year2025-11-28T13:47:36+02:00

High Court Judgment on Case between the IRBA and the Auditor of a Property Owners’ Association

2025-11-28T13:27:38+02:00

LATEST UPDATE High Court Judgment on Case between the IRBA and the Auditor of a Property Owners’ Association South Africa’s Independent Regulatory Board of Auditors (IRBA) was sharply criticised by Judge Mandlenkosi Motha of the High Court in Johannesburg for failing to follow the provisions of the Auditing Professions Act (APA) when investigating a complaint against an auditor. The procedure followed was antithetical to the APA Thomas Lessing, member of the Serengeti Estates Property Owners Association NPC (Sepoa), brought an application to review and set aside a decision taken by IRBA regarding 10 complaints he [...]

High Court Judgment on Case between the IRBA and the Auditor of a Property Owners’ Association2025-11-28T13:27:38+02:00

Release of Staff Audit Practice Alert 11: The Use of Generative Artificial Intelligence and Emerging Technologies in Audits

2025-11-26T12:16:30+02:00

LATEST UPDATE Release of Staff Audit Practice Alert 11: The Use of Generative Artificial Intelligence and Emerging Technologies in Audits The Independent Regulatory Board for Auditors (IRBA) has issued Staff Audit Practice Alert 11: The Use of Generative Artificial Intelligence and Emerging Technologies in Audits. This non-authoritative guidance provides insights into the impact of generative artificial intelligence (GenAI) and emerging technologies when applying certain requirements of the International Standards on Quality Management and the International Standards on Auditing in the South African context. As the profession continues to evolve in response to technological advancements, it [...]

Release of Staff Audit Practice Alert 11: The Use of Generative Artificial Intelligence and Emerging Technologies in Audits2025-11-26T12:16:30+02:00

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