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LEGAL cont.

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Fax: (087) 940-8873


GRATITUDE FOR TIME WELL SERVED: At the farewell function, Vincent Maleka SC (vice-chairman), middle, praised Costa

Qually, left, and Akhter Moosa, right, for their remarkable commitment.

qualify to be viewed as such. The IRBA’s mandate does not include

the investigation of any suspected FIC-related contraventions

that are committed by a firm of attorneys. Also, Section 45 of

the Auditing Profession Act does not provide for any mechanism

whereby the IRBA could be at liberty to report incidents of NOCLAR

to appropriate regulators in circumstances where these matters fall

outside the scope of an RI.

Consequently, the registered auditor was advised against reporting

the suspected NOCLAR directly to the IRBA. He was rather

advised to consider approaching the FIC and the relevant Law

Society directly with regards to the unreported CTR. The registered

auditor was, however, also advised to seek legal advice prior to

him undertaking any further actions in response to this suspected

NOCLAR identified. Registered auditors are reminded of the IRBA’s

Frequently Asked Questions on Non-Compliance with Laws and Regulations

as issued in October 2017; and this can be found on

the IRBA website.


At the end of the last quarter, we bid farewell to two members of

the Disciplinary Committee, Costa Qually and Akther Moosa, both

of whom served as retired registered auditors.

Mr Qually served for 12 years on the Disciplinary Committee bothwith

the IRBA and our predecessor the PAAB, while Mr Moosa served

for three years on the committee. Their exceptional commitment

and expertise will be dearly missed and we wish them well and

express our sincere gratitude to them for their noble service to the

auditing profession.

A special thank you must be given to Mr Qually for the training

sessions that he provided over the years on basic accounting and

auditing principles to the lawyers on the committee and our legal


Issue 43 | July-September 2018