Withdrawal of A Guide for Registered Auditors: Combating Money Laundering and Financing of Terrorism

The Independent Regulatory Board for Auditors (IRBA) notified registered auditors of the withdrawal of A Guide for Registered Auditors: Combating Money Laundering and Financing of Terrorism.

The IRBA Board approved the withdrawal of the guide, due to changes in legislation, notably to the Financial Intelligence Centre (FIC) Act, 2001 (Act No 38 of 2001). These changes include revisions to Schedules 1, 2 and 3 of the FIC Act that removed the IRBA as a supervisory body, effective from 19 December 2022.

Registered auditors should familiarise themselves with the guidelines developed and issued by the FIC, and the South African Institute of Chartered Accountants to implement the changes to the FIC Act.