Rene Kenosi Appointed First Black Female Chairman of The Independent Regulatory Board For Auditors

Johannesburg / 8 June 2015

René Kenosi has been appointed as the Chairman of the new board for the Independent Regulatory Board for Auditors (IRBA). Kenosi is the first Black female to spearhead the course of the IRBA since it was established in 2006. This is also the first time in the history of the IRBA and its predecessor that there are no practising Registered Auditors (RAs) on the board. The eight member board was appointed by the Minister of Finance for a two year period in terms of section 12(1) of the Auditing Profession Act.

René Kenosi is a qualified Chartered Accountant with a career spanning over a number of years across banking, breweries, motor vehicle and professional services consulting industries.

She is currently a director of Bridging Concepts Financial Services (Pty) Ltd providing internal audit, risk management, corporate training, and management consulting services. She has served on various Audit and Risk Committees including ICASA, LGSETA, Metrobus, Dr Kenneth Kaunda District Municipality, City of Matlosana, South African Micro Apex Fund (SAMAF), Metropolitan Trading Company (Pty) Ltd and Services Seta. She currently also serves on the Companies and Intellectual Property Commission (CIPC) and the Department of Home Affairs Audit and Risk Committees.

Kenosi has also served on the boards of PUSH (Persevere Until Something Happens), a non-profit organisation and Small Enterprise Development Agency.

We welcome the new chairman and board and are confident that they will further enhance and support the IRBA’s mandate of public protection.

The appointed board members come from various backgrounds including law, academia, audit, business and accountancy. The new Board is committed to apply their wealth of experience to implement the IRBA’s strategy, which includes comprehensive regulation, further strengthening the independence of the IRBA and auditors, promoting independent regulation on the continent and increasing transformation in the profession.

Independence of the IRBA from the profession is crucial if investors and the public are to have confidence that the IRBA is serious about its role in public protection. We have come a long way from self - regulation and are pleased that this is now clearly reflected in the IRBA’s governing structure. While we must continue to engage with the profession and create an enabling environment for the delivery of high quality audits, our primary responsibility is to deliver on our mandate to protect the public without undue influence from the profession.

The new Board members are: Advocate Lisa Keech, Mr Abel Dlamini CA (SA), Mr Thiru Pillay CA (SA), Mr Zola Luxolo Fihlani CA (SA), Ms Amanda Lethukuthula Mazibuko (CIA), and Ms Phumzo Noxaka CA (SA). They are joined by Ms Rene Kenosi CA (SA) and Prof Alex van der Watt CA (SA), who had been reappointed to serve a second term of two years.

Bernard Peter Agulhas
Chief Executive Officer