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CMS: Circular 1 of 2026 – Extension re comments on Circular 44 of
- 17 February 2026
- Audit
- South African Accounting Academy
Summary:
The Council for Medical Schemes (CMS) has issued Circular 1 of 2026 to inform medical schemes, their audit committees, authorised auditors and other stakeholders of the extension to the deadline for the submission of comments relating to Circular 44 of 2025.
Article:
Circular 44 of 2025 (issued in December 2025) requested comments on the proposed introduction of auditor rotation requirements and the restriction on the provision of non-audit services by external assurance providers, thereby fostering independence and greater auditor inclusion in the audit of medical schemes..
The initial deadline of 30 January 2026 has been revised, with submissions now due by 30 April 2026. The extension aims to grant audit committees sufficient time to consider the proposals during their normal scheduled meetings.
Access the memorandum outlining the details of the proposal at https://www.medicalschemes.co.za/download/3779/2025-guidelines-and-manuals-current/30653/memo-on-auditor-independence-and-economic-inclusion-2025.pdf
Proposed requirements are meant to take effect for financial years beginning 1 January 2027.
Click here to download the 1-page Circular 1 of 2026:
https://www.medicalschemes.co.za/download/3819/2026-circulars-current/30755/circular-1-of-2026.pdf
Relevance to Auditors, Independent Reviewers & Accountants:
- Auditors, Independent Reviewers and Accountants should always be aware of the latest publications issued by regulators and standard-setting boards, such as the IRBA, as well as what the impact will be on engagements performed on medical schemes.
- As an auditor of a medical scheme, you need comply with and use the individual prescribed auditor report templates, and refer to relevant circulars issued by the Council for Medical Schemes that affect auditors.
Relevance to Your clients:
- Medical schemes and their audit committees should be aware of the latest circulars issued by the Council for Medical Schemes .