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IRBA: Inspections 9th Cycle Strategy Handbook
- 16 April 2025
- Auditing and Assurance
- South African Accounting Academy
Summary:
The IRBA has published the 9th Inspections Cycle - Inspections Strategy and Process Handbook.
Article:
Key to the collaborative effort is for stakeholders to understand the IRBA’s roles and processes, as well as how to use and interpret the Inspections Department’s outputs, specifically in the context of their 2024 Public Inspections Report.
This document, therefore, provides an overview of the inspections process and includes significant changes for the 9th Inspections Cycle (covering the three-year period from 1 April 2024 to 31 March 2027). Auditors may find this information valuable, as they plan for and perform audits. Also, audit committees and those charged with governance may use this information to better understand the inspections process, as well as to initiate and inform constructive dialogue with their auditors in the interest of enhanced audit quality.
Click here to download the 28-page Handbook:
https://www.irba.co.za/upload/Inspections%209th%20Cycle%20Strategy%20Handbook.pdf
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.
- As a registered auditor and member of IRBA (or any interested party/stakeholder), you need to understand the IRBA’s roles and processes, as well as how to use and interpret the Inspections Department’s outputs, specifically in the context of their 2024 Public Inspections Report.