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The Independent Regulatory Board for Auditors (Irba) says it is disappointed by the “soft” sanction handed down to the Deloitte partner implicated in the collapse of the old African Bank, saying that it underscores the need to quickly implement amendments to legislation to ensure that investors are adequately protected.

This comes after an independent disciplinary committee assembled by Irba announced on Friday that Mgcinisihlalo Jordan, Deloitte’s engagement partner on the African Bank audit, had his right to practise as an auditor revoked for two years but the sanction was suspended for three years provided he fulfils certain conditions...

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