IRBA: Overview of the Amendments to the APA

24 May 2021
Auditing and Assurance
South African Accounting Academy

IRBA provides an overview to the Amendments under the following sections:

IRBA Board and Committees
Regulation Requirements
Reportable Irregularities Processes
Investigation and Disciplinary Processes
Improved Sanctions
Disclosure and Protection of Information

IRBA initiated amendments to the Auditing Profession Act 26 of 2005 (the Act) and these were, among others, aimed at:

Strengthening the independence of the IRBA;
Strengthening the investigating powers of the IRBA;
Ensuring the efficiency and effectiveness of the disciplinary processes;
Increasing monetary sanctions that can be imposed for improper conduct; and
Ensuring the protection and sharing of information under the control of the IRBA.

The 36-page Auditing Profession Amendment Act of 2021 can be downloaded here: https://www.irba.co.za/upload/Auditing%20Profession%20Amendment%20Act%205%20of%202021.pdf

Click here to download the full overview document issued by IRBA:

https://www.irba.co.za/upload/30_%20Overview%20of%20the%20amendments%20made%20to%20the%20Auditing%20Profession%20Act.pdf

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