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IRBA: SAAPS 3 (Revised September 2025), Illustrative Reports: Incorporating the IAASB’s Narrow Scope Amendments to ISA 700 (Revised)
- 19 September 2025
- Audit
- South African Accounting Academy
Summary:
The Independent Regulatory Board for Auditors’ (IRBA) Committee for Auditing Standards (CFAS) approved the South African Auditing Practice Statement (SAAPS) 3 (Revised September 2025), Illustrative Reports (SAAPS 3 (Revised September 2025)), for publication.
Article:
SAAPS 3 (Revised September 2025) provides practical guidance to registered auditors who report on financial statements, both for compliance with the International Standards on Auditing (ISAs) or the International Standards on Review Engagements, as applicable, as well as the legal and regulatory requirements applicable to auditors and auditor reporting in South Africa, as related to the content and format of the auditor’s report.
In total, 31 illustrative auditor’s and independent reviewer’s reports have been included in this final SAAPS 3 (Revised Sep 2025).
The proposed effective date for SAAPS 3 (Revised) is for auditor’s or independent reviewer’s reports issued for audits or independent reviews of financial statements for periods beginning on or after 15 December 2024, with early adoption permitted.
In finalising SAAPS 3 (Revised September 2025), a public consultation process was followed. The Exposure Draft: Proposed SAAPS 3 (Revised XX 2025), Updates to Illustrative Auditor’s Reports as a result of the IAASB’s narrow-scope amendments to ISA 700 (Revised), was issued for public comment on 10 March 2025. Refer to our previous Alert dated 17 March 2025
Click here to download the 150-page Revised SAAPS 3:
https://www.irba.co.za/upload/SAAPS%203%20(Revised%20September%202025).pdf
Relevance to Auditors, Independent Reviewers & Accountants:
- As an auditor and independent reviewer, you need to consider and comply with International Standards on Auditing, Auditing pronouncements and other Assurance Services, and thus you need knowledge of the format and content that must be contained in your audit report.
- All Registered Auditors, Independent Reviewers and other Independent Assurance Practitioners must comply with the IRBA Pronouncements that affect their reporting on relevant engagements.
- IRBA provides illustrative regulatory reports as guidance to auditors.
- As an Auditor & Independent Assurance Practitioner, you need to comply with the relevant reporting requirements, and must therefore refer to the latest illustrative reports for your relevant client engagements.