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IRBA News #65
- 19 April 2024
- Auditing and Assurance
- South African Accounting Academy
IRBA has indicated that their current 5-year strategy is coming to an end in 2025 and they will soon begin a process of developing a new one. IRBA would like to hear from their valuable stakeholders regarding what they think IRBA, as the audit regulator, should focus on in the coming 5 years.
This newsletter covers the period January to March 2024, and includes summaries on the following topics:
- Changes to Standards (including Ethics)
- Legal:
- Disciplinary Committee (overview and short summaries)
- 15 open matters (involving 13 categories of improper conduct) referred to the Legal Department for disciplinary hearings (1 of these was referred during the current reporting period)
- 7 matters finalised (including a summary of these finalised matters)
- 6 matters finalised through admission of guilt and the other 1 matter was finalised after a disciplinary hearing
- Reportable Irregularities statistics
- Disciplinary Committee (overview and short summaries)
- Registry (registrations, re-registrations and terminations)
- 2024/2025 Annual renewal process
- Investigations:
- Investigating Committee – met once and referred 22 matters to the Enforcement Committee
- Enforcement Committee – met once and concluded on 17 matters
- 16 Matters finalised by fines issued through an admission of guilt process (i.e. following the Decision to charge)
- 1 Matter was referred to the Legal Department for a disciplinary hearing
- Education & Transformation news:
- Notable achievement in the Competency Framework review process
- Professional Development remains a continuous process
- How the audit development programme (ADP) is faring
- A closer look at the Professional Bodies
- Corporate Governance best practices in a changing world
- Revision of the International Education Standards (IES)
- IRBA Learning Resources
- Communications and some general news items.
Click here to download the IRBA News:
https://www.irba.co.za/upload/IRBA%20News%20Issue%2065.pdf
Relevance to Auditors, Independent Reviewers & Accountants:
- Members of IRBA should stay up-to-date with the latest developments that affect registered auditors.
- This newsletter summarises all the relevant changes for the preceding quarter.
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