IRBA: News #71

IRBA: News #71

• 03 November 2025
• Accounting
• 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 compelling, impactful outcomes that have emerged from collaboration with stakeholders.

Article:

IRBA also highlights the following topical issues in this newsletter:

• What auditing in the listed environment demands
• A dialogue and navigating the ever-evolving world of technological disruptions

Issue 71 covers the period from July to September 2025, and includes summaries on the following topics: 

• Changes to Standards (including Ethics)
• Investigations: 
  • Investigating Committee – met once and referred 22 matters to the Enforcement Committee
  • Enforcement Committee – met once and concluded on 16 matters
    • No Matters were finalised with the Decision not to charge
    • 16 Matters finalised by fines issued through an admission of guilt process (detail is provided on each one of these)
    • No matters were referred to the Legal Department for disciplinary hearings
• Legal:
  • Disciplinary Committee (overview and short summaries)
    • No matters were finalised (including a summary of these finalised matters)
    •   6 matters are pending disciplinary hearings (including an analysis of charges)
    • 12 open cases (involving 8 categories of improper conduct) referred to the Legal Department for disciplinary hearings
  • Reportable Irregularities statistics
• Registry (registrations, re-registrations and terminations)
  • Annual renewal process
• Inspections:
  • What auditing in the listed environment demands
    • Pre-engagement Activities
    • Understanding of Risks
    • Audit quality and Resourcing
    • Independence and Fee Dependency
    • A Matter of Responsibility
• Education & Transformation news: 
  • Enhancements in the development of candidate auditors
    • Learning Management System (LMS)
    • ADP Monitoring Inspections
  • Launch of a new resource centre ignites enthusiasm among local accounting and auditing academics
  • Honouring top auditing students across the country
    • Varsity College
    • Career Fair Highlights
  • Latest on the IRBA’s revision of its competency framework
    • Impact of the IRBA’s Role
    • Research and Consultation-led Revision of the Competency Model
  • Observations on the monitoring of the accredited professional bodies
    • South African Institute of Chartered Accountants
    • Association of Chartered Certified Accountants South Africa
    • Other Professional Bodies
  • A dialogue on navigating the ever-evolving technological disruptions

Finally, detail is provided on the List of Communications sent.

Click here to download the 36-page Newsletter:

https://www.irba.co.za/upload/IRBA%20News%20Issue%2071.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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