IRBA Proposes Revisions to Code of Professional Conduct

Posted 06 June 2025 Written by Acts Online
Category Financial and Accounting

Brought to you by SA Legal Academy: In terms of the Auditing Profession Act, No. 26 of 2005, the Independent Regulatory Board for Auditors (IRBA) has gazetted a notice calling for public comment on proposed revisions to the Code of Professional Conduct for Registered Auditors.

The proposed amendments are underpinned by standards issued by the International Ethics Standards Board for Accountants (IESBA). These revisions are designed to incorporate ‘necessary South African enhancements’ to ensure the local regulatory framework remains robust and aligned with international developments in auditor ethics and independence. Stakeholders and interested parties have until 8 August 2025 to submit their written comments to the IRBA.

Key Focus Areas

  • Alignment with the latest IESBA International Code of Ethics for Professional Accountants.
  • Integration of South African-specific regulatory enhancements.
  • Strengthening professional conduct requirements for all Registered Auditors (RAs).

What this means for you, your business, or your clients

  • For yourself: Registered Auditors must review the proposed amendments to identify specific changes to ethical requirements, particularly regarding professional skepticism and independence.
  • For your business: Audit firms should evaluate their current compliance frameworks against the proposed IESBA-aligned standards to ensure readiness for implementation and updated staff training.
  • For your clients: No direct individual obligations; however, clients should be aware that these revisions may lead to more stringent independence requirements for auditors, particularly in relation to non-audit services.

Originally published at https://legalacademy.co.za/news/read/auditors-irba-code-of-conduct-to-be-revised

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