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IRBA: News #68
- 23 December 2024
- Auditing and Assurance
- South African Accounting Academy
Summary:
The Independent Regulatory Board for Auditors (IRBA) has released its latest quarterly newsletter, providing useful summaries of changes to various standards, disciplinary matters, etc. In this edition, IRBA pays tribute to the memory of Imran Vanker.
Article:
The sudden and tragic loss of Imran Vanker has impacted many lives, and colleagues and friends have paid homage to this inspirational and compassionate man.
This newsletter covers the period October to December 2024, and includes summaries on the following topics:
- Changes to Standards (including Ethics)
- Legal:
- Disciplinary Committee (overview and short summaries)
- 9 open matters (involving 10 categories of improper conduct) referred to the Legal Department for disciplinary hearings. The most common charge continues to be insufficient appropriate audit evidence.
- 3 matters finalised – of which charges were withdrawn in 1 matter (including a summary of these finalised matters)
- 2 matters finalised through admission of guilt (1 after being previously referred for disciplinary hearing)
- Reportable Irregularities statistics
- Publication of the IRBA’s first-ever Reportable Irregularities Report 2022/2023
- Registry (registrations, re-registrations and terminations)
- Overview of registry movements
- New Registrations, Re-registrations and Terminations
- 2024/2025 Annual Renewal process
- Investigations:
- Investigating Committee – met once and referred 23 matters to the Enforcement Committee
- Enforcement Committee – met once and concluded on 23 matters
- 3 Matters finalised where the respondents were not charge with improper conduct
- 2: the respondents were not found guilty of improper conduct
- 1: there were no reasonable prospects of succeeding with a charge of improper conduct against the respondents
- 20 Matters finalised by fines issued through an admission of guilt process (i.e. following the Decision to charge) with a short summary on each
- No matters were referred to the Legal Department for disciplinary hearings
- 3 Matters finalised where the respondents were not charge with improper conduct
- Education & Transformation news:
- Developments within the Audit Development Programme (ADP)
- ADP Monitoring Inspections
- Professional Bodies’ Monitoring
- Monitoring policy Update
- SAICA
- ACCA SA
- Other Professional Bodies
- Transformation Initiatives and Celebrations of Excellence
- Interactions with University Students
- Engagements with Other Stakeholders
- Developments within the Audit Development Programme (ADP)
- Communications and some general news items.
- Disciplinary Committee (overview and short summaries)
Click here to download the 39-pagedocument:
https://www.irba.co.za/upload/IRBA%20News%20Issue%2068.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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