IRBA: Draft proposed Disciplinary Rules for Registered Auditors open for public comment

30 November 2021
Auditing and Assurance
South African Accounting Academy

This revision of the Disciplinary Rules will bring the rules into line with the latest amendments to the Auditing Profession Act 26 of 2005, as amended by Act 2 of 2021.

Given the changes to Sections 48 to 51 of the Act, as well as the introduction of section 24A, 48A, 48B, 51A and 51B, which deal with the investigation process; charges of improper conduct; disciplinary hearings; sanctions to be imposed for improper conduct; the constitution of the disciplinary committee and the hearing panel; as well as the powers to enter, search and seize information relevant to investigations; it was necessary to revise the Disciplinary Rules to ensure compliance with the new legislative provisions.

The revised Disciplinary Rules are available in the Government Gazette published on 19 November 2021, and on the IRBA website. Public comment closes on 18 January 2022, providing stakeholders and interested parties extensive time to review the proposed changes and submit comments.

Click here to download the draft proposed Disciplinary Rules:

https://www.irba.co.za/upload/Draft%20Proposed%20IRBA%20Disciplinary%20Rules_For%20public%20comment_Nov%202021.pdf

How does this affect you and your clients?

Relevance to Auditors, Independent Reviewers & Accountants:

Registered auditors are regulated by IRBA, and as such need to be aware of their investigations, disciplinary hearings processes, procedural matters, rules relating to search and seizures

Relevance to Your clients:

The public should know that they can lay complaints with the IRBA in terms of the Disciplinary Rules.
Nothing too direct, except for the fact that the draft proposed disciplinary rules will ensure that the IRBA effectively delivers on its public interest mandate to hold auditors charged with improper conduct to account and will contribute to restoring confidence and rebuilding trust in the profession and the regulator.

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