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STANDARDS c o n t .

Listings Requirements

in November 2015.

The Guide provides guidance to JSE-accredited reporting

accountants of JSE-listed entities that report on property-

related transactions, in accordance with the JSE Limited

Listings Requirements (LR). Its purpose is to provide

guidance to a JSE-accredited reporting accountant in the

implementation of:


ISAE 3400,

The Examination of Prospective Financial


, when engaged to report on an entity's forecast

statement of profit or loss and other comprehensive income

as well as the vacancy and lease expiry profile of the

property portfolio as a whole (forecast information). This

information is prepared in terms of paragraphs 13.12-13.14

and 13.18(d) and (e) of the LR and reported on in terms of

paragraph 13.15 of the LR; and/or


ISRE 2400 (Revised),

Engagements to Review Historical

Financial Statements

, or ISRE 2410,

Review of Interim

Financial Information Performed by the Independent

Auditor of the Entity,

when engaged to report on the assets

and/or liabilities acquired by the applicant issuer in terms of

the transaction reflected in the adjustment column of an

entity's pro forma statement of financial position. This

information is prepared in terms of paragraph 13.16 of the

LR and reported on in terms of paragraph 13.16(e) of the


The resultant amendments to the LR were published in

Government Gazette No. 39711 on 19 February 2016 and the

amendments came into operation on 21March 2016.

The Guide is effective for engagements commencing on or

after 1March 2016.

The Guide and the related communiqué are available on the IRBA


SAAPS 3 (Revised November 2015),

Illustrative Reports

The CFAS approved the issue of the

South African Auditing

Practice Statement (SAAPS) 3 (Revised November 2015),

Illustrative Reports

, in November 2015.

( ) ( standards-functions-55/92?task=view news-42/931-22-february-2016)

This SAAPS is aimed at providing practical guidance to

registered auditors who report on financial statements, both

for compliance with the ISAs (or the ISREs, as applicable) and

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. For the purpose of this

SAAPS, the main legal and regulatory requirements

addressed are the Auditing Profession Act, 2005 (No.26 of

2005), the Companies Act, 2008 (Act No.71 of 2008) and the

Public Audit Act, 2004 (Act No.25 of 2004).

This SAAPS contains conforming amendments arising from

the issue of the new and revised Auditor Reporting Standards

and related auditing standards issued by the IAASB, which

have been approved for adoption, issue and prescription by

registered auditors in SouthAfrica.

It also includes guidance contained in the communiqué,


Strengthens Auditor Independence by Mandating Disclosure

of Audit Tenure


issued by the IRBA on 4

December 2015.

This SAAPS is effective for periods ending on or after 15

December 2016. If the registered auditor has decided on an

early adoption of the new and revised auditor reporting and

related auditing standards, then the early adoption of this

SAAPS is also required.

The SAAPS and the related are available on the IRBA


ISAE 3000 (Revised),

Assurance Engagements Other

thanAudits or Reviews of Historical Financial Information

Registered auditors are reminded that ISAE 3000 (Revised) is

effective for assurance reports dated on or after 15 December


The ISAE is available on the IRBAwebsite. ( ( communiqué ( ( news-43/938-29-february-2016) standards-functions-55/91?task=view) news-42/936-1-march-2016) standards-functions-55/111-auditing-standards/919-2015- auditing-standards)


Issue 33 January - March 2016