A New Era for the Auditing Sector

By: Bright Ntuli

Finance minister Tito Mboweni has welcomed the approval of the Auditing Profession Amendment Bill by members of the National Assembly.

Among the provisions of the bill is to give the Independent Regulatory Board for Auditors powers to search and seize documents with a warrant if no consent has been obtained beforehand.

It will also provide for the power to subpoena persons with information required for an investigation or disciplinary process

The bill is set to go before the National Council of Provinces for its concordance before being sent to President Cyril Ramaphosa to be signed into law.

Speaking in Parliament Mboweni says another important factor is the protection of the Public Investment Corporation.

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