IRBA Newsletter Issue 50

Issue 50 | April - June 2020 16 GENERAL NEWS COVID-19 SUPPORT FOR SMALL AND MEDIUM PRACTICES The IRBA embarked on a project to seek information and provide guidance to small and medium practices (SMPs) regarding access to the available funding options for COVID-19 financial relief. We managed to liaise with the following funders: • The Department of Labour (UIF); • The Department of Small Business Development; and • The Property Industry Group. We informed them of our willingness to assist registered auditors with accessing the various funding options that are available. The funders, however, emphasised that it is essentially up to the audit firms themselves to ensure that they apply correctly for the available benefits. Nevertheless, a channel of communication with these funders has now been established. To that end, the IRBA will endeavour to communicate to them any systemic issues that registered auditors bring to our attention regarding difficulties with accessing the benefits. In addition to liaising with the funders, we also tried to contact the SA Future Trust and the Sukuma Relief Program. Feedback, though, was limited to standardised emails received from two commercial banks detailing the process to follow to apply for funding.