Auditing Profession Act, 2005 (Act No. 26 of 2005)

Board Notices

Independent Regulatory Board for Auditors

Fees Payable to the IRBA

Fees Payable to the IRBA with effect from 1 April 2025

Board Notice 760 of 2025
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Board Notice 760

20 March 2025

GG 50164

 

The Fees Payable to the IRBA with effect from 1 April 2025 to 31 March 2026

 

In Board Notice 684 of 2024 the Independent Regulatory Board for Auditors informed Registered Auditors (“RAs”) of its intention to prescribe fees payable by RAs for the 2025-2026 financial year in accordance with Section 8 of the Auditing Profession Act, 2005 (Act 26 of 2005) and invited public comments on the proposed fees.

 

Having considered the comments received, the Board has approved the implementation of a 25% concession for RAs over the age of 65 years.

 

The Board considered the concerns raised in a number of comments received regarding the proposed increases above the Consumer Price Index (CPI). However, due to the projected budget deficit, it has resolved to implement the proposed fees without any further changes. The Board considered all revenue streams available to it to achieve a break-even budget as required by Section 53(3) of the Public Finance Management Act as National Treasury did not approve the IRBA’s request to budget for a deficit. Accordingly, CPI aligned increases would have left the Board with a further deficit to contend with and render it unable to deliver on its regulatory mandate.

 

Accordingly, fees payable from 01 April 2025 to 31 March 2026 are prescribed herewith as approved by the Board:

 

Category

Amount

Decision

1.

Registration Fees

 

 

1.1

Registration of an individual.

R15 165

Rate adopted as previously proposed in the November 2024 comment notice.

1.2

Proficiency interviews, payable on notification for an interview.

(Application of the “Three-Year Rule”)

R2 955

Rate adopted as previously proposed in the November 2024 comment notice.

1.3

Administration fee for cancellation or withdrawal from 1.1 and 1.2 above (recovery of costs).

15% of the above applicable fees

Rate adopted as previously proposed in the November 2024 comment notice.

1.4

Registration of firms.

R7 555

Rate adopted as previously proposed in the November 2024 comment notice.

2.

Annual Renewal Fees

 

 

2.1

Annual renewal of registration payable by any person as long as he/she remains registered as an auditor and has not reached the age of 65 years.

R12 030

Rate adopted for all RAs under the age of 65 years.

2.2

Annual renewal of registration payable by any person as long as he/she remains registered as an auditor and is 65 years of age or older.

R9 020

The Board resolved to provide a 25% concession on annual renewal fees payable by RAs 65 years of age or older, thus approving the rate of R9 020.

2.3

Administration fee for reinstatements of annual renewals (not limited to reinstatements after lapsing).

R6 015

Rate adopted as previously proposed in the November 2024 comment notice.

3.

Training Contracts

 

 

3.1

Registration of all training contracts, irrespective of the term.

R3 740

Rate adopted as previously proposed in the November 2024 comment notice.

4.

Audit Development Programme (ADP)

 

 

4.1

Registration of an ADP contract.

R0

Rate adopted as previously proposed in the November 2024 comment notice.

5.

ADP Monitoring Visits

 

 

5.1

No fees charged for the ADP monitoring visit.

 

Rate adopted as previously proposed in the November 2024 comment notice.

5.2

Cancellation fees payable:

Total time as allocated for the ADP monitoring visit when scheduled, and as communicated to the registered auditor at the time, at a standard rate per hour per inspector scheduled.

R1 565

6

Inspection Fees

 

 

6.1

Cancellation fees payable:

Total time as allocated for the inspection when scheduled, and as communicated to the registered auditor at the time, at the ad-hoc hourly rate per hour per inspector scheduled.

R3 230

Rate adopted as previously proposed in the November 2024 comment notice.

7.

Ad-hoc Hourly Rate

 

 

Hourly rate for actual time spent carrying out other services rendered by the IRBA.

R3 230

Rate adopted as previously proposed in the November 2024 comment notice.

8.

Accreditation Fees for Professional Bodies

 

 

8.1

Application fee:

R83 180

Rate adopted as previously proposed in the November 2024 comment notice.


Payable on application (non-refundable).

 

8.2

Evaluation fee (up to a maximum of):

 


• Payable on progress.

R2 465 530


• Should the professional body withdraw its application for accreditation, the IRBA will charge for the recovery of costs incurred.

 

8.3

Annual monitoring fee:

R968 255


Payable annually.