IRBA: Proposed Guide for Registered Auditors – Assurance Engagements on the AFS and Annual Statutory Returns of a Medical Scheme

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IRBA: Proposed Guide for Registered Auditors – Assurance Engagements on the AFS and Annual Statutory Returns of a Medical Scheme

• 07 July 2026
• Auditing and Assurance
• South African Accounting Academy

Summary:

The Independent Regulatory Board for Auditors’ (IRBA) Committee for Auditing Standards (CFAS) has approved the issuing of the Exposure Draft (ED): Proposed Guide (Revised 20XX) for Registered Auditors: Assurance Engagements on the Annual Financial Statements and Annual Statutory Returns of a Medical Scheme.

Article:

This proposed Guide provides practical guidance to registered auditors on conducting an assurance engagement on the annual financial statements and annual statutory returns of a medical scheme. The guidance relates to understanding the nature and characteristics of a medical scheme, as well as the nature and extent of work on the engagement. As a consequence, this Guide emphasises professional competencies and professional scepticism. It provides implementation guidance on the application of International Standards on Auditing (ISAs), in respect of matters unique to the audit of a medical scheme. In conducting the audit in accordance with the ISAs, an auditor complies with all the requirements of all the ISAs.

Subject to the comments received, the expectation is for the CFAS to approve and issue the final Guide in November 2026, with the approval and issue being noted at the subsequent meeting of the IRBA Board. The proposed effective date of Guide (Revised XXXX) is for engagements on accounting periods ending on or after 31 December 2026.

The deadline for submissions is 27 August 2026.

Click here to download the 112-page document:

https://www.irba.co.za/upload/Proposed%20Revised%20Guide%20for%20RAs%20-%20Medical%20Scheme%20Engagements%20June%202026.pdf 

Relevance to Auditors, Independent Reviewers & Accountants:

• Auditors, Independent Reviewers and Accountants should always be aware of the latest publications issued by regulators and standard-setting boards, such as the IRBA, as well as what the impact will be on engagements performed on medical schemes.
• Members of IRBA should stay up-to-date with the latest developments and guides that affect registered auditors.
• IRBA provides guidance to auditors on Assurance Engagements on the Annual Financial Statements and Annual Statutory Returns of a Medical Scheme.

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