What Are The Evidentiary Requirements For Making An RI Report?

Amid the current landscape of several corporate failures in South Africa, including the dramatic collapse of Steinhoff, and the resulting job losses and negative impact on shareholders, including pensioners, the role of auditors in reporting reportable irregularities to the Independent Regulatory Board for Auditors ("IRBA") has come under heightened scrutiny. The auditing profession must work to restore public trust and confidence as an independent body that will ring the alarm bells and alert shareholders and the public to financial and accounting irregularities. Within the increasingly complicated commercial landscape, auditors seek to fulfill their professional obligations relative to reporting Ris. Meanwhile, internal governance structures within corporate organisations seek to protect the company's share price and overall financial well-being. What has emerged is a rather complex dynamic between auditors and audit clients. In particular, there are