Press Releases

IRBA attains a clean audit report amidst resource constraints and cost containment measures

  • October 16, 2023

The annual report of the Independent Regulatory Board for Auditors (IRBA) was recently tabled in Parliament at the Standing Committee on Finance (SCOF).

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IRBA accredits ACCA as a route to audit specialisation

  • July 06, 2023

The Independent Regulatory Board for Auditors (IRBA) announced today that it has accredited the Association of Chartered Certified Accountants (ACCA) (South Africa) as an additional professional accounting body providing another route to the audit specialisation programme for aspiring registered auditors.

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Minister of Finance gazettes maximum fines for auditor improper conduct

  • June 19, 2023

Minister of Finance gazettes maximum fines for auditor improper conduct.

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Set aside of MAFR poses little risk to investors since the majority of public interest entity auditors have already rotated

  • June 01, 2023

The Independent Regulatory Board for Auditors (IRBA) has indicated that the setting aside of the Mandatory Audit Firm Rotation rule (MAFR) by the Supreme Court of Appeal poses minimal risks to investors on a short-term basis as the majority of listed entities (91%) and public interest entities have already rotated audit firms thereby minimising the risk of independence threats as a result of long tenure.

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December 06, 2021 IRBA successfully defends challenge to MAFR by East Rand Member District of Chartered Accountants
November 22, 2021 IRBA opens draft proposed Disciplinary Rules for Registered Auditors for public comment
November 11, 2021 New Proposed International Standard for Less Complex Entities
October 11, 2021 48% of JSE Listed entities have rotated at least once since June 2017 - Covid does not appear to have an impact on the pace of rotations
October 08, 2021 Fraud and the role of auditors - what more can be done to detect fraud risk?
August 13, 2021 IRBA to refer non-audit complaints to professional bodies
August 13, 2021 IRBA guide on the implementation of search and seizure provisions published for comment
July 19, 2021 IRBA heeds stakeholder calls and opens consultation on Enhancing Disclosures in Audit Reports
May 02, 2021 Amended Act Strengthens IRBA's Investigation and Disciplinary Powers
March 18, 2021 IRBA approves IAASB revised suite of quality management standards for early adoption Strengthening the foundation of audit quality
March 16, 2021 Refocussed IRBA strategy aims to enhance audit quality and address gaps
March 09, 2021 IRBA's Second AQI Report outlines actionable recommendations for audit quality
March 08, 2021 IRBA announces Acting Director: Inspections
March 07, 2021 Early adopters on the JSE drive MAFR up to 43%
March 01, 2021 Irba introduces acting CEO
February 25, 2021 Caretaker Board at Irba issues call for nominations to serve on the Board
February 16, 2021 IRBA updates the market on governance steps taken by Caretaker Board