1 0
Issue 30 April - June 2015
REPORTABLE I RREGULAR I T I ES
TOTAL NUMBER OF REPORTABLE IRREGULARITIES RECEIVED
Quarter ended
30 June 2015
Year ended
31 March 2015
Number of reports (1st and 2nd ) received and files closed within 40 days
that should have been closed in the period
Number of second reports received late (after due date)
Total number of RIs received
149
100% 946
98%
0
-
15
2%
149
100% 961
100%
CONTINUING/NOT CONTINUING RIs: OF THE TOTAL NUMBER OF RIs RECEIVED
Quarter ended
30 June 2015
Year ended
31 March 2015
Continuing
Not continuing
Total number of RIs received
86
58% 487
50%
63
42% 468
49%
0
0%
6
1%
149
100% 961
100%
Did not exist
Revised Guide for Registered Auditors: Reportable
Irregularities in terms of the Auditing Profession Act
The
Revised Guide for Registered Auditors: Reportable
Irregularities in Terms of the Auditing Profession Act
(the
Guide) was issued on 24 June 2015. The Guide replaces the
previous
"Reportable Irregularities: A Guide for Registered
Auditors”
issued in June 2006, which has now been
withdrawn.
Registered auditors are encouraged to familiarise themselves
with the Guide, and are reminded that the IRBA monitors
compliance with Section 45 (relating to Reportable
Irregularities) during its inspections.
Below are statistics related to reportable irregularities (RIs)
processed by the IRBA.
Registered auditors are commended on the improvement of their timely submission of the second reports.
TYPE OF ENTITY: OF TOTAL NUMBER OF RIs RECEIVED
Quarter ended
30 June 2015
Proprietary Limited
Limited
Body Corporate
101
68%
9
6%
7
5%
6
4%
Provident Fund
Estate Agent
NPC
Pension Fund
5
3%
5
3%
4
3%
3
2%
Close Corporation
Attorneys Trust Account
3
2%
2
1%
Political Party – Fund
School
Medical Scheme
Total number of RIs received
2
1%
1
1%
1
1%
149
100%
Trust
