Attending the course and successfully completing the post-assessment, will grant you
2 hour/s verifiable CPD, recognised by the various
professional bodies (SAICA, SAIBA, ACCA, IACSA, IRBA & etc). Please note that the
CPD certificate will only be issued once the post-assessment has been completed.
Registered Auditors, in their capacity as auditors, are required to report Reportable Irregularities to the IRBA, should they come across any during the course of their audit engagements or while appointed as auditor of an entity.
The IRBA issued guidance in this regard in 2006. In May 2015, the IRBA issued revised guidance in this regard.
The purpose of the Revised Guide for Registered Auditors: Reportable Irregularities in Terms of the Auditing Profession Act (the Guide) as issued by IRBA is to provide guidance to registered auditors on their responsibility to report reportable irregularities in terms of section 45 of the Auditing Profession Act, 2005 (the APA). Depending on the circumstances, registered auditors are advised to obtain legal advice and are reminded of the responsibility to adequately and appropriately document their deliberations. In the Guide reference to an auditor" or a “registered auditor unless the context requires otherwise, means an auditor registered as such under the APA.
The Guide does not apply to a registered auditor acting as an independent reviewer in terms of section 30(2)(b)(ii)(bb) of the Companies Act, 2008 (the Companies Act), who identifies a reportable irregularity in terms of Regulation 29 to the Companies Act, which must be reported directly to the Companies and Intellectual Property Commission (CIPC). Note that the definition of reportable irregularity under Regulation 29 differs from that set out in the APA.
This Guide replaces the Guide Reportable Irregularities: A Guide for Registered Auditors issued in June 2006, which has been withdrawn.
When using the Guide auditors should bear in mind that there might have been amendments to the IRBA Code of Professional Conduct, Laws or Regulations made subsequent to the issue date of this Guide.
To gain an overall understanding about reportable irregularities, the requirements contained in the Auditing Profession Act, and the use of the Guide as issued by the IRBA
The definition of a reportable irregularity and general principles
When the obligation to report irregularities arises and when the Guide becomes applicable
The process followed by the IRBA on receipt of a reportable irregularity report made in terms of section 45
The impact of a section 45 reportable irregularity on the auditors report
Professional responsibilities, disciplinary measures, other sanctions and monitoring of compliance with section 45
All registered auditors and their staff who perform audit engagements
