IRBA Calls for Comment on Proposed IAASB Revisions to ISA 330, 500, and 520

Posted 25 September 2026 Written by Acts Online
Category Auditing

Brought to you by SA Accounting Academy: The Independent Regulatory Board for Auditors (IRBA) has invited public comment on exposure drafts published by the International Auditing and Assurance Standards Board (IAASB) proposing revisions to three foundational auditing standards.

In terms of its statutory mandate under the Auditing Profession Act, No. 26 of 2005 to determine auditing standards and ensure alignment with international best practice, IRBA has issued a formal communiqué regarding proposed updates to the following International Standards on Auditing:

  • ISA 330: The Auditor’s Responses to Assessed Risks
  • ISA 500: Audit Evidence
  • ISA 520: Analytical Procedures

The IAASB’s proposed revisions seek to reinforce risk-based auditing methodologies, heighten criteria for the sufficiency and appropriateness of audit evidence, and formalise requirements concerning the expanding deployment of automated tools and technology in audit engagements. The drafts also aim to improve operational alignment between risk assessment procedures, auditor risk responses, and the substantive evaluation of audit evidence.

Stakeholders submitting input through the local regulator must submit comments by email to [email protected] no later than 6 November 2026. All submissions made to IRBA will form part of the public record and should address the five South African-specific consultation questions outlined in the communiqué.

Practitioners and interested parties may alternatively submit comments directly to the IAASB via its official portal by 15 December 2026. Direct submissions to the IAASB are not required to address the South African-specific questions.

Click here to download the IRBA Communiqué on Proposed Revisions to ISA 330, ISA 500, and ISA 520.

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

  • For yourself: Registered auditors must review the draft revisions to assess how modified rules around technological audit procedures and evidence evaluation will affect their day-to-day engagement workflow and file documentation obligations.
  • For your business: Audit practices must evaluate their existing automated audit tools, methodology manuals, and engagement templates against the proposed standards before the comment deadline of 6 November 2026 to identify operational or technical implementation hurdles.
  • For your clients: Audited entities must prepare for potential changes in information requests, as auditors may need to extract broader, system-generated datasets and obtain deeper documentation regarding internal data integrity to satisfy the heightened audit evidence rules.

Originally published at https://accountingacademy.co.za/news/read/irba-feedback-on-the-iaasb-s-proposed-revisions-to-3-isas-addressing-audit-evidence-responses-to-assessed-risks-and-analytical-review

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