Audit firm rotation is being taken up on a voluntary basis
Ahead of it becoming mandatory in 2023, a number of companies are already rotating auditors, in line with regulatory recommendations
21 August 2019 - 14:51
Despite the strong opposition that initially greeted the introduction of mandatory audit firm rotation, a number of JSE-listed companies have already taken this step.
Between January 2017 and March 2019, 17% of the entities listed on the JSE in 2017 had rotated their audit firms. Of these, 38% cited the introduction of mandatory audit firm rotation by the Independent Regulatory Board for Auditors (Irba) in 2016 as the reason for changing their audit firm...
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