INDEPENDENT REGULATORY BOARD FOR AUDITORS IRBA

Transcript:INDEPENDENT REGULATORY BOARD FOR AUDITORS IRBA:
INDEPENDENT REGULATORY BOARD FOR AUDITORS IRBA Annual Report 1 Strategic Focus Objectives Highlights for the year Report on Financial Statements Report of the Auditor-General Performance Information Questions 2 Agenda 3 Strategic focus To protect the financial interest of the public by ensuring that only suitably qualified individuals are admitted to the auditing profession and that registered auditors deliver services of the highest quality and adhere to the highest ethical standards. Objectives 4 Developing and maintaining auditing and ethics standards which are internationally comparable; Providing an appropriate framework for the education and training of properly qualified auditors as well as their on-going competence; Registration of auditors who meet the registration requirements; Monitor compliance with reportable irregularities and anti-money laundering; Monitor registered auditors compliance with professional standards; Investigating and taking appropriate action against registered auditors in respect of improper conduct; 5 Highlights for the year The IRBA celebrates 10 years of independent audit regulation. South Africa achieves 1st position for its auditing standards in the World Economic Forum’s 2016 Global competitiveness rankings for the seventh consecutive year. The IRBA issues its Public Inspections Report: Striving for Consistent, Sustainable High Audit Quality. In May 2015 the Audit Development Programme (ADP) was launched. The IRBA publishes its third Integrated Report. The IRBA researches measures to strengthen auditor independence. The IRBA conducts an independent survey to explore and quantify factors driving and limiting professional advancement in auditing. 6 Financial statements 7 Financial statements Report of the Auditor General 8 FOR 2016 AND 2015 YEAR ENDS Clean Audit report for 7 consecutive years regarding REPORT ON THE FINANCIAL STATEMENTS REPORT ON OTHER LEGAL REGULATORY REQUIREMENTS Predetermined objectives Compliance with laws and regulations INTERNAL CONTROL Performance information 9 Performance information 10 Performance information 11 Performance information 12 Thank You Questions 13