IRBA Calls for Public Input on Fees and Disciplinary Fines

The Independent Regulatory Board for Auditors (IRBA) has opened two public consultation processes—one on the retention of various regulatory fees and another on monetary fines for auditors found guilty of misconduct.

1. Proposed Retention of Fees from 2019-2021

   Following a Supreme Court of Appeal ruling, IRBA is reviewing its previous fee increases and newly introduced fees from 2019 and 2020. These include:

   • The removal of the 50% annual fee concession for auditors over 65.

   • Above-inflation increases in annual registration and renewal fees (some by 35%-50%).

   • The introduction of assurance fees for low-risk (Category C) work.

   • Tax practitioner registration fees, which are no longer applicable since IRBA ceased being a Recognised Controlling Body (RCB) in April 2023.

   Public comments are requested by 3 March 2025 to be submitted to board@irba.co.za.

2. New Guideline on Monetary Fines for Auditors

   IRBA has also released a draft guideline outlining how monetary fines will be determined for auditors and candidate auditors found guilty of improper conduct to shape the final disciplinary approach for imposing fines.

   Public comments can be submitted to fineguideline@irba.co.za by 4 March 2025.

Both consultations are critical for shaping future regulations in the auditing profession. Interested parties are encouraged to review the proposals and submit their feedback before the deadlines.