The Judicial Commission of Inquiry into Allegations of State Capture (the Zondo Commission) significantly impacted the auditing profession in South Africa. It highlighted failures in detecting irregularities in state-owned enterprises. Consequently, there is now a heightened focus on "Reportable Irregularities" under the Auditing Profession Act, requiring auditors to report suspected fraud or theft directly to IRBA. Finding Educational Resources and Downloads

The Independent Regulatory Board for Auditors (IRBA): IRBA is the statutory body responsible for the registration and oversight of Registered Auditors (RAs). It ensures that auditors comply with professional standards and ethics.

The Companies Act of 2008: This legislation dictates which companies require a mandatory audit versus an independent review, based on their Public Interest Score (PIS).

Auditors must adhere to the IRBA Code of Professional Conduct. The core principles include integrity, objectivity, professional competence and due care, confidentiality, and professional behavior. Independence is the most critical factor; an auditor must be independent in both mind and appearance to provide an unbiased opinion. Professional Skepticism and Judgment

Engagement Acceptance: Evaluating whether to take on a client based on risk and ethical considerations.