Leading stakeholders in the financial sector have called on Treasury to reconsider the final decision by the board of the Independent Regulatory Board for Auditors (Irba) to go ahead with mandatory audit firm rotation from April 1 2023. Irba CEO Bernard Agulhas and Finance Minister Malusi Gigaba held a media briefing recently to announce the decision, which Agulhas said had taken account of all the submissions made to Irba and to Parliament’s standing committee on finance during public hearings on the issue. In a media statement on Monday, the Chief Financial Officers (CFO) Forum, the Institute of Directors, the King Committee, the Association for Savings and Investments in SA and the Audit Committee Forum reiterated their objection to the measures. The CFO Forum represents the chief financial officers of the top 100 companies on the JSE. CFO Forum chairperson Christine Ramon, speaking on behalf of all these stakeholders, urged the government to reconsider the Irba decision. "Mandat...
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