ASB Issues Exposure Draft 215: Proposed Amendments to GRAP 109

Posted 29 January 2026

The Accounting Standards Board (ASB) has released Exposure Draft (ED) 215, proposing specific amendments to the Standard of GRAP on Accounting by Principals and Agents (GRAP 109).

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IRBA Adopts Revised ISA 240 on Auditor Fraud Responsibilities

Posted 23 January 2026

The Independent Regulatory Board for Auditors (IRBA) has adopted the revised International Standard on Auditing (ISA) 240, which significantly strengthens the responsibilities of auditors regarding fraud in financial statement audits.

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IRBA Issues Revised Illustrative Reports for Financial Sector Regulatory Returns

Posted 22 January 2026

The Independent Regulatory Board for Auditors (IRBA) has released revised illustrative auditor’s reports for statutory returns applicable to banks, insurers, and medical schemes, clarifying the application of the Enhanced Auditor Reporting Rule.

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IFAC Releases 2026 Handbook of International Education Standards

Posted 19 January 2026

The International Federation of Accountants (IFAC) has released the 2026 Handbook of International Education Standards, incorporating revised standards effective 1 July 2026.

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SAICA issues updated guidance on Sectional Title auditor opinions

Posted 16 January 2026

The South African Institute of Chartered Accountants (SAICA) has released updated guidance regarding auditor opinions required under the Sectional Titles Schemes Management Regulations.

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SAICA Issues Updated Medical Schemes Accounting Guide 2025

Posted 15 January 2026

The South African Institute of Chartered Accountants (SAICA) has released an updated version of the Medical Schemes Accounting Guide for 2025, providing revised guidance on IFRS compliance and Council for Medical Schemes (CMS) reporting requirements.

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IAASB Issues Narrow-Scope Amendments on Using the Work of Experts

Posted 12 January 2026

The IAASB has released narrow-scope amendments to its standards to align with new IESBA ethical requirements for using the work of external experts.

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IFRS Foundation Releases Educational Resources for Third Edition of IFRS for SMEs

Posted 06 January 2026

The IFRS Foundation has released a suite of educational resources, including 11 modules and 5 webcasts, to support the implementation of the third edition of the IFRS for SMEs Accounting Standard.

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National Treasury Issues GRAP Bulletin on Public Entity Surpluses

Posted 05 January 2026

National Treasury has issued a GRAP Reporting Bulletin providing guidance on the recognition, measurement, and disclosure of surplus funds under the PFMA and National Treasury Instruction No. 03 of 2025/26.

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IASB Proposes New Risk Mitigation Accounting Model for Interest Rate Risk

Posted 23 December 2025

The International Accounting Standards Board (IASB) has released an Exposure Draft proposing a new accounting model to align interest rate risk management with financial reporting.

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IRBA: Compliance Requirements for Auditing Listed Entities

Posted 15 December 2025

The Independent Regulatory Board for Auditors (IRBA) has issued a reminder regarding the regulatory obligations and quality management requirements for firms auditing listed entities under the JSE Listings Requirements.

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IASB Issues Updated Guidance on Reporting Uncertainties in Financial Statements

Posted 11 December 2025

The International Accounting Standards Board (IASB) has issued updated illustrative examples to assist companies in applying IFRS Accounting Standards when reporting the effects of uncertainties, including climate-related risks.

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IFRS Foundation Releases Educational Module for Section 23 of IFRS for SMEs

Posted 11 December 2025

The IFRS Foundation has issued a new educational module to assist entities in applying Section 23 (Revenue from Contracts with Customers) of the third edition of the IFRS for SMEs Accounting Standard.

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Professional Skepticism: AFC Guidance for External Auditors

Posted 08 December 2025

The Anti-Fraud Collaboration has released new guidance for external auditors on exercising and maintaining professional skepticism in accordance with international auditing standards.

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National Treasury Issues New GRAP Regulations under PFMA

Posted 05 December 2025

The Minister of Finance has issued new Regulations on Accounting Standards under the Public Finance Management Act, No. 1 of 1999, prescribing revised Standards of GRAP effective from 1 April 2027.

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National Treasury Issues Guidance on GRAP 14 Post-Reporting Date Events

Posted 05 December 2025

National Treasury has updated its GRAP Knowledge Hub with new guidance on the classification of adjusting and non-adjusting events under GRAP 14.

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IPSASB Aligns Definition of Material in Public Sector Standards

Posted 04 December 2025

The International Public Sector Accounting Standards Board (IPSASB) has issued amendments to IPSAS 1, IPSAS 3, and its Conceptual Framework to align the definition of materiality.

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IFRS Foundation Issues Educational Module 9 for SMEs

Posted 28 November 2025

The IFRS Foundation has released a new educational module to support the implementation of Section 9 of the third edition of the IFRS for SMEs Accounting Standard, focusing on consolidated and separate financial statements.

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IASB Issues Amendments to IAS 21 for Hyperinflationary Currency Translation

Posted 27 November 2025

The International Accounting Standards Board (IASB) has issued narrow-scope amendments to IAS 21 to clarify the translation of financial statements from a non-hyperinflationary currency into a hyperinflationary presentation currency.

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National Treasury Issues New PPP Guidelines for FCCL and Unsolicited Proposals

Posted 25 November 2025

National Treasury has issued comprehensive guidelines for Fiscal Commitments and Contingent Liabilities (FCCL) and Unsolicited Bid Proposals (USP) to strengthen the Public-Private Partnership (PPP) regulatory framework.

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ASB Issues ED 216: Proposed Improvements to Standards of GRAP 2026

Posted 12 November 2025

The Accounting Standards Board (ASB) has issued Exposure Draft (ED) 216, proposing narrow-scope amendments to the Standards of GRAP to enhance clarity and international alignment for the 2026 reporting period.

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ASB Updates Directive 5: GRAP Reporting Framework 2026/2027

Posted 07 November 2025

The Accounting Standards Board (ASB) has released the updated Directive 5 on the GRAP Reporting Framework for the 2026/27 financial year, applicable to public sector entities for periods starting 1 April 2026.

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IRBA Tables 2024/2025 Annual Report

Posted 06 November 2025

The Independent Regulatory Board for Auditors (IRBA) has released its 2024/2025 Annual Report, marking the completion of its five-year strategic cycle and highlighting its fourth consecutive clean audit opinion.

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IRBA News Issue 71: Regulatory Updates and Disciplinary Summaries

Posted 03 November 2025

The Independent Regulatory Board for Auditors (IRBA) has released Issue 71 of its quarterly newsletter, detailing regulatory developments, disciplinary outcomes, and standards updates for the period July to September 2025.

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CAQ Releases External Auditor Assessment Tool for Audit Committees

Posted 28 October 2025

The Centre for Audit Quality (CAQ) has released a structured assessment tool designed to assist audit committees in evaluating the performance and independence of external auditors.

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