25 March 2010

SAAPS 3 (Revised) (March 2010) Illustrative Independent Auditors Reports has been revised with effect from 1 March 2010 to include illustrative reports on annual financial statements prepared in accordance with IFRS for SMEs, and to reflect the effect of IAS 1 (AC 101) (Revised) terminology on the auditors reports on Group Annual Financial Statements. Illustrative reports are included in both English and Afrikaans as assistance to registered auditors. Changes made are as follows:

Appendix 1: Unmodified Reports

1.4 - Financial Statements prepared in accordance with the IFRS for SMEs;

1.5 - Group Annual Financial Statements IAS 1 (AC 101) (Revised) terminology; and

Appendix 5: Linking going concern considerations with types of audit opinions

Revised diagram Going Concern Decision Tree

Appendix 6: Ongewysigde Verslae

1.4 - Voorbeeldverslag vir finansiële state opgestel ooreenkomstig die IFRS for SMEs

1.5 - Groepsfinansiële Jaarstate IAS 1 (AC 101) (Revised) terminologie; en

Appendix 6: Gewysigde Verslae: Omvangsbeperkings

2.2.2 - Opgelê deur die entiteit.

These reports are in the pre-Clarity format of the Handbook of International Standards of Auditing, Assurance and Ethics Pronouncements 2008 Edition adopted and prescribed by the IRBA for use by registered auditors in South Africa.

A new SAAPS will be issued later in 2010 with illustrative reports in the Clarity format in accordance the Handbook of International Standards on Auditing, and Quality Control 2009 Edition, adopted and prescribed by the IRBA for use by registered auditors in South Africa,.

SAAPS 3 (Revised) (March 2010) is available in both PDF and Word formats and may be downloaded from the IRBA website: Click here. Should you have any further queries or experience any technical difficulties in downloading the documents please do not hesitate to contact the Standards Department at +27 (0)87 940 8800 or send an email to This e-mail address is being protected from spambots. You need JavaScript enabled to view it .

Sandy van Esch
Director: Standards
About the IRBA

The objective of the IRBA is to endeavour to protect the financial interests of the South African public and international investors in South Africa through the effective and appropriate regulation of audits conducted by registered auditors, in accordance with internationally recognised standards and processes. The CFAS assists the IRBA to develop and maintain auditing pronouncements which are internationally comparable.