Allowing the Independent Regulator Body for Auditors (Irba) to fine errant auditors and audit firms up to R25m is a “powerful weapon” in its armoury, says the board's CEO Imre Nagy. However, it won't stop corporate scandals unless other roleplayers and law-enforcement agencies come to the party, he adds.

“We need to see more accountability in the entire ecosystem from all law-enforcement agencies and roleplayers if we want to stamp out corruption and failures in the system,” he says...

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