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IRBA: 2025 Firm Annual Returns
- 11 February 2025
- Auditing and Assurance
- South African Accounting Academy
Summary:
The annual renewal process for firms to submit their returns is now open on the Independent Regulatory Board for Auditors' (IRBA) website, with the deadline for the submission of the firm return being 4 April 2025.
Article:
This entails the submission of the assurance work declaration, public practice questionnaire and firm-related information.
To facilitate this submission process, the following documents are available for download:
- Communique: Firm Annual Returns: Firm Assurance Work Declaration and Public Practice Questionnaire with Firm-related Information 2025
- Explanatory Memo (This document is being issued to all firms that are registered with the IRBA) https://www.irba.co.za/upload/Assurance%20Fees%202025/Explanatory%20Memo_Firm%20Returns%202025%20Final(1).pdf
- High-risk Excel Template
- Low-risk Excel Template
- Staff Complement Excel Template
This online submission functionality is linked to the applicable registered auditor's (RA) profile and available when that RA logs onto the IRBA website.
Only one return per firm is required.
This submission must be filled in completely, to enable the IRBA to perform a detailed analysis that will inform its risk-based inspections methodology and the billing of assurance fees.
Even if none of the partners in the firm performed any assurance work during the period 1 January 2024 to 31 December 2024, the firm is still required to complete and submit a zero-assurance fee return.
RAs are obligated to submit the required firm-related information, even if they are submitting a zero-assurance fee return.
Network firms that declare assurance fees under one firm must ensure that all other firms in the network that is registered with the IRBA submit a zero-assurance work return.
Only submissions on the IRBA website will be accepted; therefore, no email submissions will be accepted.
The Explanatory Memo contains instructions for the completion and submission of the firm return and supporting documents.
Kindly pay specific attention to the new requirements relating to firm annual renewal, and the consequences for non-compliance, in terms of Government Gazette No. 49079 published on 4 August 2023, and as detailed in the Explanatory Memorandum under sections 3 and 4. https://www.irba.co.za/upload/BN%20467%20of%202023%20-%20Documents%20and%20Processes.pdf
In summary, if you do not submit your Assurance Fee Declaration on time or fail to pay any invoiced assurance fees by the due date, your firm will be referred to the IRBA’s legal department. This may result in the removal of your firm from the register, as it will no longer be in good standing with the IRBA.
The deadline for the submission of the firm return is 4 April 2025.
Click here to download the document:
https://www.irba.co.za/upload/06_%20Firm%20returns%202025.pdf
Relevance to Auditors, Independent Reviewers & Accountants:
- Members (Registered Auditors) must declare their compliance to IRBA in line with their relevant memberships on an annual basis.