Only 28% of audits passed the IRBA's latest inspection. The rest? Flagged, referred, or failed. And if you think that's the auditor's problem, think again. Your financial statements feed directly into every deficiency they're finding. Here's what it means for your practice and the steps you can take to ensure your clients' files hold up under scrutiny.

The 2023 Public Inspections Report on Audit Quality offers not just a mirror reflecting the current state of audit practices in South Africa but also a roadmap for navigating the intricate landscape of audit quality.

From writing audit file notes to giving expert advice and potentially identifying high risk areas, Imran Vanker, director of standards at IRBA, explains how ChatGPT could change auditing.