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Education Committee Standing Resolutions

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ESTABLISHMENT AND CONSTITUTION OF AN EDUCATION, TRAINING AND PROFESSIONAL DEVELOPMENT COMMITTEE ("EDCOM") AND DELEGATION OF POWERS AND ASSIGNMENT OF DUTIES TO THE EDCOM

 

  • 14.1 Establishment of EDCOM

  • The Board hereby establishes an EDCOM in terms of section 20(2) (c).

  • 14.2 Composition of EDCOM

    • 14.2.1 EDCOM consists of at least ten (10) members who have expertise, experience and interest in the field of education, training and professional development of auditors, provided that:

      • 14.2.1.1 at least one (1) member must be a practising academic.

      • 14.2.1.2 every accredited professional body may nominate one (1) person to the committee.

  • 14.3 Delegation and assignment

  • The Board delegates and assigns the following general powers and duties to EDCOM in terms of section 19(1):

    • 14.3.1 the duty to encourage education in connection with, and research into, any matter affecting the auditing profession [section 4(1)(d)];

    • 14.3.2 the duty to formulate and recommend to the Board –

      • 14.3.2.1 minimum requirements for accreditation of professional bodies in addition to those provided for in the Act [section 5(a)];

      • 14.3.2.2 the period of validity of the accreditation [section 5(c)];

      • 14.3.2.3 requirements for and conditions relating to and the nature and extent of continued education, training and professional development [section 7(1)(c)];

      • 14.3.2.4 training requirements, including, but not limited to, the period of training and the form for training contracts [section 7(1)(d)];

      • 14.3.2.5 professional competency requirements [sections 4(1)(c) and 7(1)(f)]; and

      • 14.3.2.6 the date by and the form in which, every year, an accredited professional body must satisfy the Board that it continues to comply with the requirements for accreditation listed in section 33 of the Act [section 34].

    • 14.3.3 the duty to consider and to make a recommendation on any application for accreditation and on the granting of such accreditation in full or in part [section 5(b) and section 32(2)];

    • 14.3.4 the duty to recommend the termination of the accreditation of professional bodies in accordance with sections 35(1), 35(2) and 35(3) [section 5(e)];

    • 14.3.5 the duty to recommend to the Board the recognition of, or the withdrawal of the recognition of, the educational qualifications or programmes or the continued education, training and professional development programmes in the auditing profession of educational institutions and accredited professional bodies [section 7(1)(a)];

    • 14.3.6 the duty to recommend to the Board the recognition of, or the withdrawal of the recognition of, any accredited professional body to conduct any final qualifying examination contemplated in section 37 or conducting any such examination for the purposes of section 37 [section 7(1)(b)];

    • 14.3.7 the power to recommend to the Board, at its discretion, the establishment of mechanisms for registered auditors to gain recognition of their qualifications and professional status in other countries [section 7(2)(a)];

    • 14.3.8 the power to recommend to the Board, at its discretion, to enter into an agreement with any person or body of persons, within or outside the Republic, with regard to the recognition of examination or qualification for the purposes of the Act [section 7(2)(b)];

    • 14.3.9 the power to recommend to the Board, at its discretion, to give advice to, to render assistance to, to consult with or to interact with any organ of state, statutory body, educational institution, professional body or examining body with regard to educational facilities for and the education, training and professional development of registered auditors and prospective registered auditors [section 7(2)(d)];

    • 14.3.10 the power to recommend to the Board to extend the recognition of the educational institution or accredited professional body concerned on such conditions as EDCOM considers appropriate if EDCOM considers that withdrawal of recognition referred to in sections 7(1)(a) or 7(1)(b) would not be in the best interests of the public, the auditing profession or the members of an accredited professional body [section 7(3)(b)];

    • 14.3.11 the power to take appropriate steps which it may consider expedient for the maintenance and improvement of the standards of professional competence of registered auditors [section 2(d)];

    • 14.3.12 the power to undertake or make arrangements for the undertaking of research, both locally and internationally, in connection with matters relating to professional education, training and assessment [section 4(1)(d) read with section 4(2)(c) and section 4(2)(d)];

    • 14.3.13 the power to co-operate with professional accounting bodies and other organisations, both locally and internationally, in connection with matters relating to professional education, training and assessment [section 4(2)(c) read with section 4(2)(d)];

    • 14.3.14 the power to recommend to the Board that the registration of a registered auditor who is an individual and who ceases to be a member of an accredited professional body and who did not within six months of such cessation provide written proof to the satisfaction of EDCOM that such auditor has made arrangements for his or her continuing professional development is cancelled [section 39(2)(b)];

    • 14.3.15 the power to take any measures it considers necessary for the proper performance and exercise of its functions or duties or to achieve the objects of the Act [section 4(2)(d)]; and
    • 14.3.16 any power or function that is incidental to the powers and functions listed in 14.3.1 – 14.3.15 above [section 9(o)].

  • 14.4 Additional powers and duties of EDCOM

    • 14.4.1 EDCOM shall conduct the final test of professional competence to be passed by an individual in order to qualify for registration with the Board under the Act

    • 14.4.2 EDCOM shall adjudicate the results of the prescribed examination and determine those candidates that passed and failed the examination and, where applicable, identify those candidates that passed with honours.

    • 14.4.3 EDCOM shall determine the combination of development or assessment programmes required to be completed in order to be admitted to the prescribed examination.

    • 14.4.4 EDCOM shall monitor on a continual basis, in the manner which it deems appropriate, the extent to which the recognised programmes continue to meet the recognition standards prescribed by the Board.

    • 14.4.5 EDCOM shall have the power to constitute subcommittees which it deems necessary to assist it in the carrying out if its functions and duties, and to appoint the members thereof.
    •  
    • The following subcommittees are standing subcommittees of EDCOM:

      • 14.4.5.1 Examinations Committee (EXAMCOM)
      • 14.4.5.2 Monitoring Subcommittee (MCOM)
  • 14.5 Terms and conditions of the appointment of members of EDCOM

  • Members of EDCOM, including any persons that may be appointed when a vacancy should arise, are appointed on the following terms and conditions [section 20(3)(b)]

    • 14.5.1 Term of office of members of EDCOM

    • Subject to section 20(1) and section 20(3)(c), members of EDCOM 's term of office will be three years, renewable a maximum of twice, so that any person shall not serve on the EDCOM for more than nine (9) consecutive years, unless with specific Board approval to extend the tenure of a specific member or members.

    • 14.5.2 Dissolution and reconstitution of EDCOM and termination of the membership of members

      • 14.5.2.1 the Board may at any time dissolve or reconstitute EDCOM [section 20(1)];

      • 14.5.2.2 the Board may at any time terminate the membership of a member of EDCOM if [section 20(3)(c)] -
        the performance by the member of the powers and functions of EDCOM is unsatisfactory;
        the member, either through illness or for any other reason, is unable to perform the functions of EDCOM effectively; or
        the member has failed to comply with or breached any legislation regulating the conduct of members, including any applicable code of conduct.

      • 14.5.2.3 A member of EDCOM whose term of office has expired nevertheless continues to serve until a successor has been appointed.

    • 14.5.3 Remuneration of members of EDCOM

    • In consultation with the Minister of Finance, the Board annually determines the fees which will be payable to members of EDCOM.

  • 14.6 Committee operations

    • 14.6.1 Chairman and deputy chairman
      If a chairman and deputy chairman are not appointed by the Board, EDCOM must annually elect a chairman and a deputy chairman from among its members. [section 20(3) (d)]. If the chairman of EDCOM is absent or for any reason unable to perform his or her functions, the deputy chairman of EDCOM must act as chairman, and while he or she so acts he or she has all the powers and must perform all the duties of the chairperson. If neither the chairman nor the deputy chairman are present at a meeting of EDCOM, the members present must elect from their own ranks a chairman for the meeting concerned.

    • 14.6.2 Meetings and attendance
      EDCOM must meet as often as circumstances require, but at least four (4) times per calendar year and at such time and place as EDCOM may determine [section 15(1) read with section 20(5)]. EDCOM shall regulate its meetings as it deems fit. Meetings of the EDCOM are not open to the public, except where, in the opinion of the chairman of the meeting, any part of the meeting should be open, but non-members may be invited to attend meetings of the EDCOM at the discretion of the chairman.

    • 14.6.3 Minutes
      The chairman of EDCOM shall cause a record to be kept of all meetings. An entry in a book containing the minutes of EDCOM, signed by the chairman, shall be prima facie evidence of resolutions taken by EDCOM.

    • 14.6.4 Quorum
      A majority of the members of EDCOM constitutes a quorum for a meeting of EDCOM [section 15(4) read with section 20(5)].

    • 14.6.5 Conflicts of interest
      Whenever a matter arises which might cause a conflict of interest to any committee member, which potential conflict must be disclosed, that member must recuse him or herself, if the chairman so rules.

    • 14.6.6 Voting rights Every member of EDCOM, including the chairman, has one vote. In the event of an equality of votes, the chairman of the meeting has a casting vote in addition to his or her deliberative vote (section 15(5) of the Act read with section 20(5)).

    • 14.6.7 Decisions The decision of the majority of the members present at a duly constituted meeting of the EDCOM is the decision of the EDCOM [section 16(1) read with section 20(5)]. No decision taken by or act performed under the authority of EDCOM is invalid only by reason of a casual vacancy on EDCOM or the fact that a person who was not entitled to sit as a member of EDCOM participated in the meeting at the time the decision was taken or the act was authorised, if the members who were present and acted at the time followed the required procedures for decisions.

    • 14.6.8 Confidentiality All information gained through appointment as a member of EDCOM must be held in the strictest confidence.

 

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