IRBA Issues Proposed Guide for Medical Scheme Audits

Posted 07 July 2026 Written by Acts Online
Category Financial and Accounting

Brought to you by SA Accounting Academy: The Committee for Auditing Standards (CFAS) of the Independent Regulatory Board for Auditors (IRBA) has approved the release of an Exposure Draft (ED) of the Proposed Guide (Revised 20XX) for Registered Auditors: Assurance Engagements on the Annual Financial Statements and Annual Statutory Returns of a Medical Scheme.

In terms of the Auditing Profession Act, No. 26 of 2005, this proposed Guide provides practical guidance to registered auditors on conducting assurance engagements on the annual financial statements and annual statutory returns of a medical scheme registered under the Medical Schemes Act, No. 131 of 1998. The guidance focuses on understanding the specific nature and characteristics of a medical scheme, as well as the nature and extent of work required for the engagement. Consequently, the Guide emphasizes professional competencies and professional scepticism, providing implementation guidance on the application of International Standards on Auditing (ISAs) to matters unique to the audit of a medical scheme.

Subject to the comments received, CFAS expects to approve and issue the final Guide in November 2026, with the approval and issue being noted at the subsequent meeting of the IRBA Board. The proposed effective date of the Guide (Revised 20XX) is for engagements on accounting periods ending on or after 31 December 2026.

Click here to download the Proposed Revised Guide for Registered Auditors.

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

  • For yourself: No direct individual obligations; impact is channelled through firm-level compliance and the application of updated auditing standards.
  • For your business: Audit firms must review the exposure draft to align internal audit methodologies, quality management systems, and training programs with the updated guidance on medical scheme statutory returns ahead of the proposed December 2026 effective date.
  • For your clients: Clients operating as medical schemes must prepare for enhanced auditor focus on professional scepticism, specialized competencies, and specific statutory return disclosures as required under the Medical Schemes Act, No. 131 of 1998.

Originally published at https://accountingacademy.co.za/news/read/irba-proposed-guide-for-registered-auditors-assurance-engagements-on-the-afs-and-annual-statutory-returns-of-a-medical-scheme

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