STANDARDS c o n t .
Estate AgencyAffairs Board (EAAB)
Online submission of estate agents' auditor's reports to the
EAAB
Auditors of estate agents are advised that the EAAB has
determined the sole manner of transmission of the auditor's
reports on the trust account(s) of an estate agent by the
auditor to the EAAB. With effect from 1 March 2015, reports
,
,
Consequently, the EAAB has advised that with effect from 1
March 2015, estate agents' auditor's reports on the trust
account(s) of an estate agent that are posted, emailed or
hand-delivered to EAAB will not be accepted as having been
received in terms of Section 32(4) of the EstateAgency Affairs
Act, No. 112 of 1976 (theAct).
Frequently Asked Questions (FAQs) for auditors of estate
agents
These FAQs were developed by the EAAB to provide
guidance to registered auditors in response to enquiries
frequently received by the EAAB and/or errors detected by the
EAAB in the auditors’ reports submitted to the board.
The FAQs were published on the EAAB website on 24 March
2015 and are ava i l ab l e a t t he f o l l owi ng l i nk
.
Revision of the South African Auditing Practice
Statement (SAAPS) 3, Illustrative Reports
In response to the new and revised standards on auditor
reporting issued by the IAASB in January 2015 and the
adoption thereof by the IRBA Board in May 2015, the CFAS
approved a project to revise SAAPS 3,
Illustrative Reports
(Revised November 2013)
. The proposed SAAPS 3 (Revised
2015) is expected to be issued on exposure for comment later
this year.
CFAS Regulated Industries and Reports Standing
Committee (RIRSC)
CFAS Public Sector StandingCommittee (PSSC)
CFAS Sustainability StandingCommittee (SSC)
IntegratedReporting StandingCommittee (<IR>SC)
Joint Guides
The Joint IRBA/AGSA Guide for Registered Auditors:
Guidance for Registered Auditors: Performing Audits where
the AGSA has Opted not to Perform the Audit
and the Joint
IRBA/AGSA Guide for Registered Auditors:
Guidance on
PerformingAudits on Behalf of theAGSA
have been approved
for issue by way of joint publication with theAGSA.
Illustrative engagement letter and assurance report – GRI
G4
The CFAS has approved a project for the SSC to develop an
illustrative report, engagement letter and any necessary
guidance to be used by registered auditors when required to
issue an ISAE 3000 (Revised) sustainability assurance report
on a Sustainability Report prepared in terms of GRI G4. It is
anticipated that the illustrative engagement letter, assurance
reports and related guidance will be issued later this year.
The <IR>SC held its first meeting on 21 July 2015. Preparers
of integrated reports, auditors, other assurance providers, the
public sector and academics are represented on the
committee. The purpose of the committee is to provide thought
leadership by contributing to and influencing international
developments in the domain of assurance on integrated
reporting.
Recent developments in the sphere of assurance on
integrated reporting:
?
The Integrated Reporting Working Group of the IAASB has
released a publication,
ongoing work in this area.
?
The International Integrated Reporting Council (the IIRC), in
July 2015, issued a publication, 'Assurance on <IR>:
', which summarises
significant matters raised in the debate engendered by its
Assurance on <IR> publications,
7
Issue 30 April - June 2015
