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IRBA: News #69
- 19 May 2025
- 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 elaborates on the launch of a new strategy, whereby the focus shifts to an efficient delivery of their mandate.
Article:
Issue 69 covers the period from January to March 2025, and includes summaries on the following topics:
- Changes to Standards (including Ethics)
- Investigations:
- Investigating Committee – met once and referred 25 matters to the Enforcement Committee
- Enforcement Committee – met twice and concluded on 17 matters
- 3 Matters finalised with the Decision not to charge
- 13 Matters finalised through an admission of guilt process (i.e. fines issued)
- 1 Matter was referred to the Legal Department for a disciplinary hearing
- Legal:
- Disciplinary Committee (overview and short summaries)
- 2 matters finalised (including a summary of these finalised matters)
- 8 matters are pending disciplinary hearings
- 17 open cases (involving 9 categories of improper conduct) referred to the Legal Department for disciplinary hearings (4 of these were referred during the current reporting period)
- 2 matters finalised (including a summary of these finalised matters)
- Reportable Irregularities statistics
- Disciplinary Committee (overview and short summaries)
- Registry (registrations, re-registrations and terminations)
- Annual renewal process
- Inspections:
- South Africa participates in the 19th IFIAR inspection workshop: sharing insights on global audit quality
- Inspection of Insurance audits
- Risk-based inspections approach
- Inspection tactics – IT in audits
- Revenue
- Initiatives to improve audit quality
- Strengthening audit oversight through initiative focusing on the roles of audit committees
- Closing remarks
- South Africa participates in the 19th IFIAR inspection workshop: sharing insights on global audit quality
- Operations:
- Collaborative work acknowledged in the approval of the latest budget
- Income and Expenditure for 2025/2026
- Accumulated Reserves
- Collaborative work acknowledged in the approval of the latest budget
- Education & Transformation news:
- Improved International Education Standards set to prepare professionals for sustainability reporting
- Developments within the audit development programme (ADP)
- Continuing Professional Development (CPD)
- Professional Body Monitoring
- Championing the auditing profession to students and inspiring new talent
- Why auditors need to strengthen their human skills in this digital age
Some general news items.
Click here to download the 41-page Newsletter:
https://www.irba.co.za/upload/IRBA_News_Issue_69.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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