In keeping with regulatory requirements, the IRBAhas various
statutory committees to assist it with carrying out its mandate,
which is mainly focused on protecting the public interest and
promoting the integrity of the auditing profession. The core
values that guide this mandate are independence, objectivity,
commitment, transparency and accountability.
In addition, the IRBA is required to “actively review and engage
with auditors and audit firms to ensure that professional
standards are of the highest quality”. When there are reported
transgressions, the IRBA is required to investigate alleged
improper conduct, conduct disciplinary hearings and impose
sanctions for improper conduct.
The two committees that are mandated with supporting the
IRBA carry out its investigating and disciplinary functions are
the Investigating Committee and the Disciplinary Committee.
To perform their statutory duties well, these committees need
to have members with appropriate skills, competencies and
experience. However, for proper governance and
transparency, committee members serve only limited terms
before newmembers have to be recruited.
Presently, both committees have vacancies that have resulted
from terms of office that have ended as well as resignations, in
some cases. The Investigating Committee has four vacancies
that will need to be filled by three registered auditors and a
senior lawyer. The regulatory requirement for this committee is
that it “must include individuals with significant legal
The three existing vacancies in the Disciplinary Committee will
require a senior counsel or a retired judge for the position of
deputy chairman; someone who is or was a registered auditor
in public practice; and an individual who is or was a practising
attorney or advocate.
Once appointed, members will be eligible to serve on the
committees for three years, with the option to renew their
terms of office only once. However, in the case of the
Disciplinary Committee terms of office are renewable twice.
Interested individuals should please send their applications
and CVs to Jill Levendal at
Due to the early publication of this issue of
, the Legal section's list of matters that were considered between October
and December will appear in the January-March issue alongside the 2016 first quarter listings.
Issue 32 October - December 2015
Telephone: (087) 940-8804