| 7.1 |
Renewal of registration of individual registered auditors |
It is prescribed that the minimum requirements for the renewal of registration are:
| 7.1.1 |
For the registered auditor to be in good standing with the Regulatory Board3; |
| 7.1.2 |
Payment of the annual fees by a specified date, which fee is prescribed by the Regulatory Board from time to time; |
| 7.1.3 |
Completion and submission by a specified date of an individual Annual Return; |
| 7.1.4 |
Compliance with the Regulatory Board’s CPD Policy, as amended from time to time; |
| 7.1.5 |
Continued residence within the Republic of South Africa; |
| 7.1.6 |
Continued membership in good standing with a professional body accredited by the Regulatory Board; and |
| 7.1.7 |
A determination by the Regulatory Board to be a fit and proper person to continue to practice the profession. |
| 7.2 |
Re-registration of individual registered auditors |
It is prescribed that the minimum requirements for re-registration are:
| 7.2.1 |
Payment of a registration fee, which fee is prescribed by the Regulatory Board from time to time; |
| 7.2.2 |
Payment of any outstanding fees or other amounts owed to the IRBA by the individual applying for re-registration; |
| 7.2.3 |
Completion and submission of Form 1 (Application by an Individual for Admission to the Register of Auditors) [see ANNEXURE A]; |
| 7.2.4 |
A determination by the Regulatory Board that the applicant is a fit and proper person to practice the profession; |
| 7.2.5 |
Proof that the applicant is a member in good standing with a professional body accredited by the Regulatory Board; |
| 7.2.6 |
Submission of a valid police clearance report, or an equivalent criminal record check in respect of the applicant.1
|
| 7.2.7 |
Compliance with all the requirements that would apply if the applicant were applying for registration for the first time as specified in section 37 of Act 26 of 2005; |
| 7.2.8 |
If it has been more than three years since the applicant was last registered with the Regulatory Board, successfully completed the PPE, successfully completed their training contract (in the case of applicants who wrote the PPE), or successfully completed the ADP, whichever is the later date, the applicant is required to submit with their application their CV, evidence of CPD undertaken for the past three years, and a short explanation of why registration is required. If the applicant is joining a firm already registered with the Regulatory Board, the applicant must also provide a letter signed by the Senior Partner or equivalent of the firm confirming their position within the firm and their audit proficiency. The applicant will be required to undergo a proficiency assessment. |
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|
1 |
An equivalent record check, in this context, means a legitimate criminal record check issued by a reputable service provider and ordinarily used by employers to establish the criminal record status of prospective or current employees. |
|
3 |
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. |
Platinum Membership
