Description
Presenter
Mariëtte Muller-Sprout
Associate Director
- CA(SA), General Tax Practitioner (SA)
- 20+ Years of experience
Course outline
The Independent Regulatory Board for Auditors (IRBA), on 2 September 2025, approved ISA 570 (Revised 2024), Going concern, for adoption, issue and prescription for use by auditors in South Africa. The approval includes the conforming and consequential amendments to other international standards.
The changes are significant and the revised standard is effective for audits of financial statements for periods beginning on or after 15 December 2026, with early adoption permitted.
Maintaining audit quality remains central to the profession, and these amendments strengthen auditors’ responsibilities when evaluating management’s assessment of an entity’s ability to continue as a going concern. They also promote greater transparency through enhanced communication and auditor reporting..
This session will unpack the key changes that the revised standard sets out and the implications for audit engagements.
Content:
The areas we will be covering in the session are:
- Earlier and more comprehensive risk assessment
a. Identify events or conditions that may cast significant doubt on an entity’s ability to continue as a going concern - Evaluate management’s assessment and consider potential for management bias
a. Evaluate the methods, assumptions and data used by management in the assessment - Extended evaluation period for going concern
a. Contribute to relevant and forward-looking analyses - Enhanced transparency
a. Communication in the auditors’ report
b. Communication with those charged with governance and external parties - Stronger emphasis on scalability, professional judgement and professional scepticism
- Enhanced documentation requirements
- Links with other standards
Important to note:
- The course is open for 12 months and will then close
- A recording will be made available after the session. The recording will be available even if you were not able to join the session, and thus no refund will be applicable.
- Certificates
will be issued on the date of successful completion of the assessment. The certificate will reflect the date of the
training session.
