IRBA: News issue #62

IRBA: News issue #62

• 21 July 2023
• Accounting
• South African Accounting Academy

This issue takes a closer look at the recent revisions to the IRBA Code of Professional Conduct (Revised April 2023) that aim to strengthen and clarify the independence requirements pertaining to group audits.

This newsletter covers the period April to June 2023, and includes summaries on the following topics:

• Changes to Standards (including Ethics)
• Legal:
  • Disciplinary Committee (overview and short summaries)
    • 27 open cases (involving 12 categories of improper conduct) referred to the Legal Department for disciplinary hearings
    • 3 matters finalised (including a summary of these finalised matters)
      • 2 matters finalised through admission of guilt and the other matter following a disciplinary hearing process
  • Reportable Irregularities statistics
• Guidance issued by the Financial Intelligence Centre regarding additions to the list of persons qualifying as Accountable Institutions
• Registry (registrations, re-registrations and terminations)
• Investigations:
  • Investigating Committee – met once and referred 23 matters to the Enforcement Committee)
  • Enforcement Committee – met once and concluded on 20 matters
    • 2 Matters finalised with the Decision not to charge
    • 15 Matters finalised through an admission of guilt process (i.e. fines issued)
    • 3 Matters were referred to the Legal Department for disciplinary hearings
• Inspections: A glimpse at the critical role of an inspector
• Education & Transformation news:
  • Transformation drives for 2023/2024 off to a great start
  • Professional Body Accreditation
  • Professional Body Monitoring – SAICA
  • Update on the review and revision of the competency framework
  • ADP: Building on the positive results from the refreshed strategy
  • Stakeholder engagement
• Some general news items.

Click here to download the latest IRBA Newsletter:

https://www.irba.co.za/upload/IRBA%20News%20Issue%2062.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.

To stay current with all the latest changes and updates subscribe to our Monthly Compliance and Legislative Update series for R 250.00 per month. This gives you access to a monthly 2-hour webinar and monthly newsletter:
https://accountingacademy.co.za/profession/monthly-legislation-update

Get all your CPD online. SA Accounting Academy (SAAA) offers Subscription Plans, Live Webinars, Webinars On-Demand, Access to Experts, Courses, Articles and more:
https://cpd.accountingacademy.co.za.

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