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NEW: IRBA CPD Policy replaced
- 04 April 2023
- Auditing and Assurance
- South African Accounting Academy
It was gazetted late on Sunday 2 April 2023 by notice in the Government Gazette – refer to https://18a66295-3a0f-41fb-a13d-9849edd3b2a3.usrfiles.com/ugd/18a662_4cc6db09fe56418b8ba62213c3da70aa.pdf.
Among other things, the new policy requires every registered auditor to annually ‘plan for, complete and record relevant learning and development activities on ethics’. These should assist in ensuring compliance with the IRBA Code of Professional Conduct for Registered Auditors.
These policies and procedures require Registered Auditors to personally document their professional development in line with the CPD framework. This also includes compulsory reflection relating to auditing and assurance topics (for all RAs) and compulsory ethics learning and development activities as detailed in the policies and procedures. A list of CPD activities and hours is not sufficient to meet the requirements of the CPD framework and constitutes non-compliance. Non-compliance in the context of CPD means that the RA did not meet the prescribed CPD requirements based on the output-based approach and includes RAs who do not respond to the requests to make submissions after being selected for CPD monitoring.
Access the IRBA Code of Conduct at https://www.irba.co.za/guidance-for-ras/ethics:-the-rules-and-the-code/the-irba-code-revised-2018
Click here to download the IRBA Replacement Policy:
https://www.irba.co.za/upload/Policy%20and%20Procedures%20relating%20to%20CPD.pdf
Relevance to Auditors, Independent Reviewers & Accountants:
- The IRBA Code of Conduct is the foundation of the profession and supports the reputation of auditors, its members and associates. Therefore, IRBA expect members and associates to remain up to date with the Code and to ensure compliance.
- Adherence with our Code of Conduct is crucial in the performance of our duties as Registered Auditors.
- As a Registered Auditor, you need to comply with the latest IRBA CPD Policy.
- As a Registered Auditor, you need to be aware of all the latest publications by the IRBA.
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.