IRBA NEWSLETTER ISSUE 44

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OPERATIONS
AssuranceWorkDeclaration (Annual FirmDeclaration)
A communique issued on 30 November 2018 notified all active
firms that additional information is required for the 2019 submission.
The additional information is required to enhance the Inspections
and Investigations processes and help fulfil the IRBA mandate. The
communique is available on the IRBA
Nitasha Naicker
Director Operations
Telephone: (087) 940-8800
E-mail:
Some of the additional information that will be needed is set out in
the table below. For more details please see the communique on
our website.
# Additional information Description
Firm related information
1 Firm shareholder/ownership and director/partner
information
Include names and registration numbers of all the firm’s shareholders/
partners, as per Section 38 of the Auditing Profession Act, Act 26 of 2005
(APA).
Exclude salaried registered auditors that do not share in the profits of the
firm.
2 Firm structure Include a list of all entities that form part of the network, as defined in
the IRBA Code of Professional Conduct, and describe the relationship
between the entities.
3 Local Firm Leadership:
CEO, or equivalent
Quality Leader, or equivalent
Risk Leader, or equivalent
Names, professional qualifications and registration numbers of individuals
who are ultimately responsible for the firm’s system of quality control, as
well as those assigned operational responsibility for the firm’s system of
quality control. It should be clearly indicated where more than one function
is being performed by an individual.
We are also in the process of automating the submission of
declarations, and this will reduce the administrative workload that
may be experienced by some firms.
Online Submission of Reportable Irregularities
We are in the final stage of testing an online submission functionality
that will allow registered auditors to submit RIs via the IRBA
Formal communication on when this will be available for use will
follow in due time.
Issue 44 | October-December 2018 19