EDITORIAL: The big stick: Irba’s new fines for audit misconduct
They are an improvement on the previous wrist-slap and tiny fines for dishonest auditors but are not a magic solution
30 June 2023 - 05:00
Derided as a timid dog that watches meekly as audit failures eat away at public trust in the profession, the Independent Regulatory Board for Auditors (Irba) now has the power to impose millions of rand in fines.
That adds extra heft to wrist-slap, public naming-and-shaming measures aimed at holding capitalism to account. It’s a welcome step but it’s not a silver bullet. ..
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