If the National Treasury’s proposed amendments to the Auditing Profession Act are passed, the Independent Regulatory Board for Auditors may gain search and seizure powers. This will allow the audit watchdog to enter the premises of auditors without prior consent or notice if accompanied by a warrant issued by a court to assist its investigations into financial reporting failures. Independent Regulatory Board for Auditors CEO Bernard Agulhas joined Business Day TV to discuss the issue and what it could mean for the industry.

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