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Auditor accreditation model: Proposed JSE requirements
- 14 June 2023
- Accounting
- South African Accounting Academy
The Auditor Accreditation Model was introduced in 2009, and previously amended in 2017.
In May 2023, the Johannesburg Stock Exchange (JSE) announced proposed amendments to the JSE Listings Requirements and JSE Debt Listings Requirements, relating to the Auditor Accreditation Model.
The proposed amendments remove the Auditor Accreditation Model (essentially removing the requirement for audit firms, individual auditors, reporting accountants, reporting accountant specialists and IFRS advisers to be accredited) and expand on the information that a listed entity’s audit committee should consider in the assessment of the suitability for the appointment of an auditor.
It is important to note that the proposed removal of the Auditor Accreditation Model from the Listings Requirements does not impact or reduce the regulatory oversight of the IRBA.
The proposed amendments are available on the JSE’s website: https://www.jse.co.za/regulation/companies-issuer-regulation
The JSE invited comments on the proposed amendments which were due on 5 June 2023.
Click here to download SAICA’s Comment letter:
Relevance to Auditors, Independent Reviewers & Accountants:
- Your relevant clients should take heed of amendments to rules published by the JSE as a regulator.
- The auditors of JSE clients have to comply with the proposed amendments to the Auditor Accreditation Model.
- You need to be aware of these requirements – should you want to become the auditor of a publicly traded entity.
Relevance to Your clients:
- Your relevant clients should take heed of the proposed amendments to the Auditor Accreditation Model, and other amendments published by the JSE.
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