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IRBA: 2025 Public Inspections Report
- 18 March 2026
- Miscellaneous
- South African Accounting Academy
Summary:
The IRBA has released its 2025 Public Inspections Report on Audit Quality, which covers the 2nd year of the IRBA's 9th Inspections Cycle, spanning over the period 1 April 2024 to 31 March 2025.
Article:
This report provides insights into the themes, and the outcomes thereof, that were the focal point for the inspections conducted during the 2025 financial year.
During the year under review, the IRBA inspected 25 firms and issued 20 firm-level reports. Their focus on public interest entities (PIEs) and high-risk audits underscores their dedication to safeguarding public interest.
While some improvement has been noted in certain areas and at various firms, the 2025 engagement inspections highlighted a number of recurring deficiencies, particularly in areas such as revenue recognition, journal entries and reliance on information technology (IT) controls. These findings underscore the need for continuous improvement and vigilance in maintaining audit quality.
Professional scepticism and judgement remain at the core of high-quality audits. The inspections have identified persistent deficiencies in the application and documentation of these critical elements.
The 2024/2025 inspections the IRBA performed continued to focus on and monitor firms’ progress in advancing audit quality through the effective use of technology, effective consequence management, mandatory training, leadership commitment and investment in quality management systems. The IRBA remains dedicated to collaborating with stakeholders to address emerging challenges and uphold public trust in financial reporting.
Click here to download the 35-page document:
https://irba.co.za/upload/Public%20Inspections%20Report%202025.zip
Relevance to Auditors, Independent Reviewers & Accountants:
- The Auditing Profession Act 26 of 20051 (as amended) (the Act) requires the IRBA to inspect/review the practice of a registered auditor that audits a public company, as defined in Section 1 of the Companies Act 71 of 2008, at least once every three years, in addition to the inspections performed on any other registered auditor. Therefore, the IRBA continues to perform firm-wide and assurance engagement file inspections at various firms.
- Firms and registered auditors are encouraged to reflect on the themes identified in this report and consider if they are prevalent within their own systems of quality management. When this is continuously done with a commitment to improving audit quality, such reflections can strengthen audit quality and ultimately lead to restored confidence in the profession.
- Registered Auditors must apply the contents of the latest IRBA Inspections Report in their practice and quality control processes. All attest and assurance staff must stay informed about mistakes made by other practices that have been inspected by IRBA, and take measures to prevent the identified deficiencies within their own practice. This includes Independent Reviewers, because an independent review is regarded as assurance work.