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IRBA Guide on Trust Account Audits

Independent Regulatory Board For Auditors

The Independent Regulatory Board for Auditors’ (IRBA) Committee for Auditing Standards (CFAS) approved for issue the Revised Guide for Registered Auditors: Engagements on Attorneys’ Trust Accounts (Revised Guide). This Revised Guide replaces the previous IRBA Guide, Guidance for Registered Auditors: Engagements on Attorneys’ Trust Accounts, which has been withdrawn.
This Revised Guide provides guidance to the registered auditor when performing a reasonable assurance engagement on whether an attorney’s trust accounts were maintained in compliance with sections 78(1), 78(2)(a) and (b), 78(2A), 78(3), 78(4) and 78(6) of the Attorneys Act, No. 53 of 1979 (the Act), and the Rules for the Attorneys’ Profession.
This Revised Guide has been updated for amendments to the International Standard on Assurance Engagements (ISAE) 3000, Assurance Engagements Other than Audits or Reviews of Historical Financial Information, and the Rules for the Attorneys’ Profession, as published in the Government Gazette No. 39740 on 26 February 2016 (effective from 1 March 2016).

Effective Date

The Revised Guide is effective for financial periods commencing on or after 1 March 2016.
This Revised IRBA Guide is available in both PDF and Word formats and may be downloaded from the IRBA website at www.irba.co.za.