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NEW! Revised Code for Registered Auditors
- 18 May 2023
- Auditing and Assurance
- South African Accounting Academy
The purpose of the publication of the April 2023 IRBA Code is to incorporate all the amendments and additions that have been made to the IRBA Code of Professional Conduct for Registered Auditors (Revised November 2018) (the November 2018 IRBA Code) into a single publication.
Subsequent amendments and additions to the November 2018 IRBA Code that have now been incorporated into the April 2023 IRBA Code publication include:
- Quality Management-Related Conforming Amendments
- Revisions to the Non-Assurance Services Provisions
- Revisions to the Fee-Related Provisions
- Revisions to Addressing the Objectivity of an Engagement Quality Reviewer and Other Appropriate Reviewers
- Final Amendments to Subsection 115, Professional Behaviour: Signing Conventions for Reports
- Revisions Part 1 - Complying with the Code, Fundamental Principles and Conceptual Framework, to promote the Role and Mindset expected of Registered Auditors
- Revisions to Part 4B - Independence for Assurance Engagements Other Than Audit - and Review Engagements, to reflect terms and concepts used in International Standard on Assurance Engagements 3000 (Revised)
- Final Amendments relating to Registered Candidate Auditors
- Final Amendments in respect of Section 321 - Second Opinions
The 2023 IRBA Code is based on Parts 1, 3, 4A and 4B of the Code of Ethics for Professional Accountants (including International Independence Standards) of the International Ethics Standards Board of Accountants (the IESBA Code) published by the International Federation of Accountants (IFAC) in September 2022 and is used with the permission of IFAC. South African adaptations and amendments to the IESBA Code are underlined and in italics in the 2023 IRBA Code.
Click here to download the Revised Code:
https://www.irba.co.za/upload/IRBA%20Code%20(Revised%20April%202023).pdf
Relevance to Auditors, Independent Reviewers & Accountants:
- Adherence with our Code of Conduct is crucial in the performance of our duties.
- Auditors, Independent Reviewers and Accountants should be aware of the latest publications and guidance issued by regulators and standard-setting boards, such as the IRBA and IESBA.
- The 2023 IRBA Code is applicable to all registered auditors. A contravention of, or failure to comply with, any requirements in the 2023 IRBA Code may be regarded as improper conduct within the ambit of Section 21 of the Auditing Profession Act, No. 26 of 2005, as amended (APA) or the IRBA Rules Regarding Improper Conduct. As such, a contravention of, or failure to comply with, any requirements in the 2023 IRBA Code may be investigated and, if appropriate, the registered auditor might be charged in terms of Section 48 of the APA.
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
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