Last weekend, the auditing profession breathed a sigh of relief when finance minister Tito Mboweni announced a new board for the turbulent regulator, the Independent Regulatory Board for Auditors (Irba).

This new board will be chaired by an auditing heavyweight in Fulvio Tonelli, a former top executive of PwC Africa, but many of his new colleagues also have impressive track records. They include former Alexander Forbes finance director Naidene Ford-Hoon, the auditor-general’s Eugene Zungu, former SA Revenue Services lawyer Nalini Maharaj and Ruth Benjamin-Swales, who chaired the regulator some years ago...

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