The Independent Regulatory Board for Auditors (IRBA) Board of Directors dissolved

The Independent Regulatory Board for Auditors (IRBA) Board of Directors dissolved

• 01 February 2021
• Accounting
• South African Accounting Academy

The Minister of Finance, Mr. Tito Mboweni, on 26 January 2021, met with the Independent Regulatory Board for Auditors (IRBA) Board of Directors (BoD). The meeting was convened to provide the BoD with an opportunity to brief the Minister on the position the Board has taken in respect of the Chief Executive Officer and to discuss the resignation of a number of board members. Each board member was given the opportunity to express his/her view on the matter.

The Minister then engaged the BoD on dissolving the Board. After careful consideration and, amongst others, taking into account the resignation of a number of board members and challenges in the functioning of the Board, the Minister dissolved the BoD, in line with section 12(5) of the Auditing Profession Act (APA). The BoD indicated that they respected the Minister’s decision in this regard and they thanked the Minister for the opportunity to serve on the Board. The Minister expressed his appreciation to the BoD and wished them the best in their new endeavours. This decision was taken in the best interest of the institution and the auditing profession. In accordance with section 12(6)(a) of the APA Ms Nonkululeko Gobodo and Major General Roy Andersen will be appointed to act as caretakers until a new Board is appointed. The appointment process of the new BoD will be concluded within 3 months in line with section 11 of the APA.

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