Amendment enables stronger punishments for ‘serious improper conduct’ by auditors
The Financial Matters Amendment Act introduces stronger sanctions for auditors and significant reforms to pension funds.
Independent Regulatory Board for Auditors
Why policyholders complained to the short-term ombudsman in 2023
‘Lack of maintenance or wear and tear’ gave rise to most of the disputes in several categories of insurance.
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Auditors’ regulator welcomes hike in fines for misconduct
But will this have unintended adverse consequences for the profession?
End of compulsory audit firm rotation rule ‘poses minimal threat in the short term’
Irba says it will work with Parliament to address the technical legal issue raised by the Supreme Court of Appeal’s judgment.
Retirement funds can use Irba’s revised formats for their financial statements
The FSCA has exempted retirement funds from using the formats in Board Notice 77 when preparing financial statements as long as they use the revised report formats approved by the Independent Regulatory Board […]
How Numsa’s life insurer went insolvent
In September 2020 the cracks in the finances of 3Sixty Life, the life insurer wholly owned by the National Union of Metalworkers of SA (Numsa) through the Numsa Investment Company, started to show. […]
Auditors’ regulator explains R11m irregular expenditure
An internal investigation by the Independent Regulatory Board for Auditors (Irba) uncovered irregular expenditure of almost R11 million, which arose from the regulator’s difficulty in complying with the procurement process when sourcing investigative […]
IRBA dismissed complaint against SAA’s Kwinana in 2018
The Independent Regulatory Board for Auditors (IRBA) has confirmed that it dismissed a non-audit complaint against former SAA board member Yakhe Kwinana in 2018, “because a lack of evidence at the time of […]
