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).

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.

June 19, 2023

Minister of Finance gazettes maximum fines for auditor improper conduct.

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.

2022

December 08, 2022	IRBA publishes fourth Audit Quality Indicators Report Talent turnover at manager and supervisory level is a growing risk to audit quality
November 06, 2022	MAFR rotations of listed entities is almost complete
October 31, 2022	IRBA appoints Ms Ntlambi Gulwa as Director: Inspections
September 27, 2022	IRBA unveils its new brand
September 07, 2022	IRBA appoints Imre Nagy as new CEO
April 04, 2022	New disciplinary rules for registered auditors gazetted
January 24, 2022	IRBA to launch the new Firm and Engagement Quality Management Standards - towards restoring confidence and enhancing audit quality
January 19, 2022	IRBA completed its investigation process on all SAA complaints between 2017 and 2019
January 18, 2022	EXTENSION OF THE PUBLIC COMMENT PERIOD FOR THE PROPOSED DISCIPLINARY RULES FOR REGISTERED AUDITORS
January 17, 2022	Impact on auditor ethics and independence in an uncertain environment

2021

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
April 29, 2021	IRBA RE-ELECTED TO THE IFIAR BOARD FOR ANOTHER FOUR-YEAR TERM
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

2020

December 11, 2020	IRBA expresses disappointment at soft sanction against Deloitte auditor
November 12, 2020	IRBA Mourns the death of Auditor General Kimi Makwetu
July 16, 2020	IRBA confirms investigation into auditors of EOH
June 30, 2020	Auditors' duty to report RIs on non-compliance with EAAB regulatory deadline of 30 June 2020
June 21, 2020	25% of JSE-listed entities have rotated audit firms ahead of 2023 MAFR deadline
May 29, 2020	African Bank / Deloitte final arguments will proceed in June
May 14, 2020	IRBA draws attention to the Key Audit Matters in auditor's reports as it relates to COVID-19
May 05, 2020	African Bank Deloitte final arguments set for June
April 28, 2020	IRBA Board appoints Jenitha John as new CEO
April 20, 2020	A Fine Balancing Act for Market Recovery By Bernard Agulhas, CEO of the Independent Regulatory Board for Auditors
March 25, 2020	IRBA shares guidance with auditors on the implications of COVID-19 on audits and auditors
March 24, 2020	Sharemax disciplinary hearing postponed to October 2020
March 23, 2020	IRBA takes steps to assist government with containment of community transmissions
March 23, 2020	THE FEES PAYABLE TO THE IRBA WITH EFFECT FROM 1 APRIL 2020
March 16, 2020	Sharemax hearing temporarily adjourns
March 02, 2020	Court rules on disclosure of documents in MAFR challenge
February 26, 2020	IRBA foresees audit reforms will regain confidence in profession if audit firms follow suit

2019

December 02, 2019	IRBA launches Audit Quality Indicators: Evaluating audit quality and promoting transparency of audit firms
October 29, 2019	IRBA achieves a decade of clean audit opinions
October 09, 2019	Slight improvement in perception of auditing and accounting standards and shareholder governance
October 07, 2019	21 percent of JSE-listed companies have changed their auditors ahead of MAFR deadline
September 26, 2019	Hearing Dates on African Bank - hearing should conclude in December 2019
July 01, 2019	Hearing Dates for Deloitte auditors on African Bank
April 01, 2019	17 percent of JSE-listed companies have rotated auditors ahead of MAFR
March 28, 2019	Linkway Trading auditor deregistered - ordered to contribute to costs
March 19, 2019	IRBA investigation into Steinhoff auditors will recommence once restated financials are released
February 19, 2019	IRBA inspections reveal recurring quality deficiency themes
February 15, 2019	IRBA concludes sanctions hearings on Gupta-linked Linkway auditor
February 07, 2019	NOTICE OF HEARING: Sanction hearing for former auditor of Linkway Trading
February 07, 2019	The IRBA welcomes the introduction of the Financial Matters Amendment Bill with APA Amendments

2018

December 14, 2018	ANNUAL FEES PAYABLE TO THE IRBA WITH EFFECT FROM 1 APRIL 2019
December 14, 2018	In the matter of African Bank Deloitte
November 07, 2018	IRBA responds regarding actions against auditors of VBS
September 12, 2018	AFIAAR adopts strategy for continental integration of accounting and auditing regulation
August 21, 2018	NOTICE OF HEARING
August 02, 2018	33% of all audit firm rotations since 2017 due to MAFR
July 31, 2018	IRBA issues notice of transparency reporting for audit firms
July 05, 2018	Hearing of evidence into conduct of auditor for Linkway Trading concludes
June 12, 2018	IRBA welcomes standard setting reform focused on greater independence and enhanced public interest focus
May 04, 2018	A few bad auditors have cost many good people their reputations IRBA takes steps to mitigate collateral damage
April 18, 2018	IRBA Act Amendments will strengthen oversight powers
April 13, 2018	IRBA CEO addresses Zimbabwe Accountants Conference (ZAC2018) on Ethics
March 02, 2018	1st AFIAAR meeting heralds new focus on independent accounting and auditing regulation in Africa
February 25, 2018	IRBA identifies lines of inquiry but requires restated financials for Steinhoff
February 08, 2018	IRBA deals firmly with crisis of confidence in accounting and auditing professions
February 02, 2018	IRBA Board trusts Agulhas to navigate current audit landscape
January 12, 2018	Update on IRBA investigations into KPMG

2017

December 15, 2017	IRBA confirms investigation into conduct of Steinhoff auditors
December 14, 2017	IRBA beefs up sanctions and will pursue amendments to the Act
December 07, 2017	Accounting irregularities do not necessarily indicate an audit failure
September 27, 2017	Drop in SA WEF ranking is regrettable but expected
September 20, 2017	SAICA has no legal mandate to lead independent inquiries
September 17, 2017	KPMG Matter
September 10, 2017	IRBA welcomes international boards' drive to focus on professional scepticism
September 07, 2017	SHAREHOLDERS ARE HAVING THEIR SAY ON AUDITOR APPOINTMENTS
August 18, 2017	The Independent Regulatory Board for Auditors appoints its new chairman
June 30, 2017	Audit regulator launches probe into KPMG audits of Linkway Trading
June 21, 2017	IRBA says additional measures required to promote transformation of audit profession
June 06, 2017	MAFR: FREQUENTLY ASKED QUESTIONS
June 02, 2017	MAFR gazetted to enhance auditor independence and protect public interest
March 16, 2017	IRBA Inspections Report shows decline in audit quality
March 14, 2017	Real empowerment remains an evasive ideal
February 18, 2017	IRBA TURNS ITS ATTENTION TO PROMOTING MEASURABILITY AND TRANSPARENCY IN AUDIT
February 07, 2017	Audit Regulator welcomes public hearing into audit firm rotation
February 02, 2017	Board Appointments by the Finance Minister to the Independent Regulatory Board for Auditors
January 20, 2017	IRBA Comment process yields solid engagement

2016

October 25, 2016	The IRBA issues consultation paper on Mandatory Audit Firm Rotation
September 28, 2016	South Africa retains pole position for auditing and reporting standards for seventh year in a row
September 26, 2016	The IRBA announces timeline for public participation process around mandatory audit firm rotation
September 06, 2016	The IRBA recognised by EU Commission as an Equivalent Competent Authority
August 31, 2016	Deadline approaches for the IRBA Withdrawal from B-BBEE Assurance Services Regulation
August 29, 2016	The IRBA announces measures to strengthen auditor independence and enhance investor protection
July 11, 2016	How independent is your auditor and audit committee?

2015

December 11, 2015	The IRBA mandates disclosure of audit tenure
December 03, 2015	Calling Boards and Audit Committees to Action in Strengthening Audit Quality in South Africa
November 12, 2015	Inspections Findings Newsflash
September 30, 2015	South Africa maintains first position for the strength of Auditing and Reporting Standards for six years in a row
July 29, 2015	Audit Regulator overview on the new Auditor Reporting Standards
July 01, 2015	SAFM Interview with Rene Kenosi Chairman of the IRBA
June 08, 2015	Rene Kenosi Appointed First Black Female Chairman of The Independent Regulatory Board For Auditors
March 20, 2015	An article on March 16 in Business Report under the headline New law set to change the face of auditing contained inaccuracies
March 17, 2015	IRBA welcomes outcome of voting on the Auditing Profession Amendment Bill