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Guidance For Auditing in the Public Sector
Johannesburg / 18 June 2012
The two joint Guides for Registered Auditors: Auditing in the Public Sector and Audit of Predetermined Objectives (the Guides) were developed by the Committee for Auditing Standards (CFAS) jointly with the Auditor-General of South Africa (AGSA) and provide information that will assist registered auditors in public practice in understanding the public sector environment, in which public sector audits are conducted, and when performing an audit of predetermined objectives, disclosed in the annual reports of entities and departments in the public sector.
The Guides were approved by the Board of the IRBA for joint publication with the AGSA for the purpose of improving the understanding of, and enhancing the performance of, quality public sector audits by registered auditors in public practice, who are contracted by the AGSA or appointed as auditors of public entities or institutions where the AGSA has declined appointment in accordance with section 4(3) of the Public Audit Act, 2004 (Act No. 25 of 2004) (PAA). Section 12(3)(a) of the PAA requires the AGSA to determine "the minimum qualifications, experience and competence of authorised auditors". Auditors performing public sector engagements shall ensure that they have the professional competence to perform such audit engagements in accordance with the applicable professional standards and more extensive legal and regulatory requirements and unique circumstances of the public sector. The guidance herein is intended to assist registered auditors to meet these requirements and enable the AGSA to fulfil its role more effectively.
Sandy van Esch
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.