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Auditing Profession Act, 2005 (Act No. 26 of 2005)Board NoticesIndependent Regulatory Board for AuditorsRegistration of Registered Auditors and Registered Candidate Auditors6. Period of validity of the registration of a Registered Auditor that is a firm |
It is prescribed that the period of validity of the registration of a firm, being both defined on a continuous registration basis and on an annual basis, is:
| 6.1 | On a continuous basis, from the date of first registration until deregistration for whatever reason; |
| 6.2 | On an annual basis, from 1 April to 31 March of each year, provided the firm pays the required assurance fees and submits the required annual return, including the assurance fee declaration and any other required documents and remains in good standing with the Regulatory Board.2 |
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| 2 | A registered auditor is in good standing with the Regulatory Board when he/she has complied with all their explicit obligations and the Regulatory Board Rules; paid all fees and debts owing to the Regulatory Board (or made arrangements to pay such debts), while not being subject to any form of sanction with which he/she has not complied or a suspension which has not been uplifted or a disciplinary order which has precluded his/her continued registration. |
