Auditing Profession Act, 2005 (Act No. 26 of 2005)Board NoticesIndependent Regulatory Board for AuditorsAssurance Fees Payable to the IRBA with effect from 01 April 2021Board Notice 67 of 2021 |
Board Notice 67
30 June 2021
GG 44788
Independent Regulatory Board for Auditors
Assurance Fees Payable to the IRBA with effect from 01 April 2021
Johannesburg 29 June 2021
Dear Registered Auditor
Notice is hereby given in accordance with the provisions of Section 8(2)(b) of the Auditing Profession Act, No. 26 of 2005, which reads as follows:
| “(2) | The Regulatory Board may prescribe— |
| (b) | fees payable for an inspection or review undertaken by the Regulatory Board in terms of section 47”. |
Accordingly, fees payable from 01 April 2021 to 31 March 2022 are prescribed herewith on the following basis:
| 1. | All firms are billed twice a year based on a percentage of the total audit and other assurance work invoiced by the firm and declared every calendar year by the firm for each registered auditor. |
| 2. | The percentages and categories applicable for 2021/2022 are as follows: |
Total assurance fee declared |
Percentage |
>702 250 000 |
0.331% |
>140 450 000 |
0.501% |
>126 405 000 |
0.511% |
>112 360 000 |
0.521% |
>98 315 000 |
0.531% |
>84 270 000 |
0.571% |
>70 225 000 |
0.591% |
>56 180 000 |
0.651% |
>42 135 000 |
0.751% |
>28 090 000 |
0.851% |
> 60 400 |
1.010% |
<= 60 400 |
0.000% |