Assurance

6 September 2022 The International Federation of Accountants (IFAC) issued its Action Plan for Fighting Corruption and Economic Crime to support a robust anti-corruption ecosystem encompassing a diverse array of participants and policies. The Action Plan sets out more than 30 specific actions and provides a framework for how we can enhance the accountancy profession’s role in …

IFAC Action Plan Supports Robust Anti-Corruption Ecosystem Read More »

31 August 2022 Auditor-General (AG) Tsakani Maluleke issued her first report on the flood relief funds in KZN and the Eastern Cape. The audit focused on key response initiatives considering the risks of non-delivery and (continued) harm to flood victims as well as fraud and the mismanagement of funds. The report includes the results of …

Auditor-general reports: response to KZN and Eastern Cape flood disaster as too slow Read More »

29 August 2022 IRBA introduced a requirement for a SAPS Police Clearance as part of its registration requirements with effect from 1 April 2022. Due to difficulties experienced by members the Board has approved a temporary deviation from the requirement for a Police Clearance Certificate up until 31 March 2023. Applicants who have been unable …

Information Regarding the Registration Requirement for a Police Clearance Certificate Read More »

30 August 2022 Sixty-five companies, investors, and professional accounting firms from across the world signed a joint statement to call for a stronger alignment between regulatory requirement and standard-setting efforts around sustainability disclosure.  Financial market regulators are asked to avoid regulatory and standard setting fragmentation by aligning on key concepts, terminologies, and metrics on which …

Call for stronger alignment between sustainability regulations and reporting requirements Read More »

15 August 2022 ISA 600 (Revised) is a significant step forward in the efforts to enhance the consistent performance of quality group audit engagements; and it also supports the IRBA’s strategy for renewed confidence and trust in the auditing profession. ISA 600 (Revised) introduces a robust risk-based approach to planning and performing a group audit. …

IRBA Board Adopts ISA 600 (Revised), Special Considerations – Audits of Group Financial Statements Read More »

16 August 2022 IFAC’s new collection of resources, Professional Accountants as Business Leaders and Value Partners how professional accountants can be future ready, data-savvy leaders who drive sustainability. These materials aim to help in understanding and navigating challenges and opportunities across various roles as finance and business leaders, risk managers and analysts, and in broader commercial …

New IFAC Resource Center is open on how professional accountants can be future-ready Read More »

Quality management rules The IRBA hereby publishes a draft of the proposed IRBA Rules arising from the International Standards on Quality Management (the proposed IRBA Rules). All stakeholders are invited to submit their written comments to the IRBA by 19 August 2022. The Exposure Draft for the proposed IRBA Rules is available and may be …

Comments due on Draft IRBA Rules Read More »

Read the notice dates and times of the hearings with the summary of charges here. For more context you can read IRBA’s latest disciplinary rules here.

Journal of Accountancy by Nathan D. Salsbery, CPA, CGMA August 1, 2022 Follow these do’s and don’ts for auditors when potential wrongdoing surfaces. Auditors know and understand the requirements of standards regarding consideration of fraud risks. However, when faced with a real situation, it is not always easy to decide on the best course of …

Fraud is suspected: Now what? Read More »

1 August 2022 Study by IFAC, AICPA and CIMA Information The study examined global trends in both sustainability-related reporting and related assurance services. The results of the study show that increasing number of companies obtain independent assurance on sustainability data. It was found that: 58% of global companies obtained ESG assurance in 2020 Assurance engagements …

More companies obtain assurance reports on sustainability data global study shows Read More »