Issue 51 | July-September 2020 5 STANDARDS cont. The Guide can be downloaded free of charge in PDF and Word formats on the IRBA website. Proposed Guide for Registered Auditors: Guidance on Performing Audits where the AGSA has Opted not to Perform the Audit (Revised August 2020) The CFAS approved the release of the Proposed Guide for Registered Auditors: Guidance on Performing Audits where the AGSA has Opted not to Perform the Audit (Revised August 2020) (this proposed Revised Guide) in August 2020, for exposure for public comment until 15 October 2020 . This proposed Revised Guide will help improve the understanding, and enhance the performance, of quality public sector audits by auditors in public practice. These are auditors who are appointed as auditors of public institutions where the Auditor-General South Africa has opted not to perform the audit, in accordance with Section 4(3) of the Public Audit Act, No. 25 of 2004 (the PAA). This proposed Revised Guide has been updated for the following: • Consequential changes made to the Guide for Registered Auditors: Auditing in the Public Sector (Revised August 2019); • Other relevant amendments arising from the revision of the PAA; • Removal of information that is already contained in the Directive; and • The inclusion of practical application guidance to implement the requirements of the PAA, Regulations on audits by auditors in private practice and the Directive, and whichever is not already contained elsewhere. Request for Comments The CFAS welcomes comments on all matters addressed in this proposed Revised Guide, and also seeks responses to two specific questions that are set out in the Explanatory Memorandum section. We invite auditors and other interested parties to submit any comments regarding this proposed Revised Guide. Comments, in Word format, should be submitted via e-mail to standards@irba. co.za . All comments will be considered a matter of public record. A copy of the exposure draft is available in PDF format and may be downloaded from the exposure drafts page on the IRBA website . REGULATED INDUSTRIESANDREPORTSSTANDING COMMITTEE (RIRSC) The IAASB Issues Conforming Amendments to the International Standards as a Result of the Revised IESBA Code and the IRBA Issues Updated Illustrative Auditor’s Reports Following These Conforming Amendments IAASB – Conforming Amendments The International Auditing and Assurance Standards Board (IAASB) issued conforming amendments to the IAASB International Standards, as a result of the revised International Ethics Standards Board for Accountants’ (IESBA) International Code of Ethics for Professional Accountants (including International Independence Standards) (IESBA Code) effective as of 15 July 2020. The conforming amendments propose limited amendments to the IAASB International Standards, in response to the revised IESBA Code. They are also meant to ensure that the IAASB International Standards can continue to be applied together with the IESBA Code. The CFAS has recommended these conforming amendments to the IRBA Board. As soon as the Board has approved these for adoption, issue and prescription for use by registered auditors in South Africa, a communique will be released. IRBA – Updated Illustrative Auditor’s Reports The conforming amendments to the IAASB International Standards will result in updates to the following illustrative auditor’s reports and will be issued for use by registered auditors once they have been approved by the IRBA Board. Updated Illustrative Report Relevant Page Numbers 1. SAAPS 3 (Revised May 2019), Illustrative Reports Illustrative Report 1, pages 13-19. Illustrative Report 4, pages 28-34. Illustrative Report 5, pages 54-58. Illustrative Report 11, pages 83-88. Illustrative Report 12, pages 89-95. 2. Illustrative Mutual Banks Act Reports (Parts A-F) PART A: Independent Auditor’s Report on DI Returns, pages 3-6. 3. South African and Consolidated Operations - Revised Illustrative Regulatory Reports A-I PART A: Independent [Auditor’s/ Auditors’, delete as appropriate] Report on year-end BA Returns, pages 4-8. 4. Foreign Operations (BA 610 returns) - Revised Illustrative Regulatory Reports A-H PART A: Independent [Auditor’s/ Auditors’] Report on the year-end BA 610 Return, pages 4-8.