Circular 38 of 2024: Authorisation of Auditors and IFRS advisors 2024

The Council for Medical Schemes (CMS) wishes to inform stakeholders that the final version of the Standards for Authorisation of auditors and IFRS advisors remains unchanged from the prior year, and can be accessed on this link: “Standards for authorisation of auditors for medical schemes”.

1. Previously authorised audit firms, individual auditors and IFRS advisors

All audit firms, individual auditors and IFRS advisors who were previously granted authorisation for the audit of medical schemes for the financial year ending 31 December 2023, will automatically have their accreditation extended to include the audits of the financial year ending 31 December 2024. No application forms or annual declarations are required in relation to these authorisations.

Audit firms and individuals are however reminded of the requirement to submit the results of any updated IRBA inspection or investigation reports to the auditor authorisation FTP site as detailed further below.

For previously authorised firms, the link to the FTP site is contained below:
a) FTP site for upload of documentation.

2. New authorisation submissions
As previously communicated on ICT-related issues encountered by the CMS, the applications for new audit firms, new individual auditors and new IFRS advisors are now replaced by a manual Microsoft Forms (MS Forms) submission.

The submission of new firm and new individual auditor / IFRS advisors’ documentation will run concurrently and the deadline for new submissions is 5 September 2024.

For new firms, you are urged to kindly contact the auditor authorisation project leader at k.mahobye@medicalschemes.co.za to issue you with a username and password for the FTP site.

Access the Circular here.