IRBA Announces Measures to Enhance Pipeline of Registered Candidate Auditors and Boost Profession's Appeal

Johannesburg, Thursday, May 23, 2024 – The Independent Regulatory Board for Auditors (IRBA) is taking decisive action to strengthen the pipeline of Registered Candidate Auditors (RCAs) and improve the attractiveness of the auditing profession. In a strategic move, resources are being directed towards promoting the profession and encouraging participation in the Audit Development Programme (ADP).

For the 2024/2025 financial year, trainee levies will remain unchanged, and ADP registration fees will be waived. These measures aim to facilitate growth and transformation within the Registered Auditor (RA) community, ensuring that financial constraints do not hinder aspiring auditors' progress.

The decision reflects a need to review the overall cost structure associated with the qualification process. Escalating registration costs for trainees and RCAs present a significant barrier to entry, prompting proactive intervention to mitigate disparities and enhance industry diversity.

Says IRBA CEO, Imre Nagy: “The IRBA's approach encompasses a broader examination of the financial burdens borne by candidates across professional bodies and auditing firms. It recognises that, in some cases, trainees or RCAs may shoulder the ADP registration costs directly or indirectly, highlighting the need for equitable solutions.

“By introducing a no-fee ADP and curbing fee increases for trainees, the IRBA aims to underscore its commitment to dismantling barriers and fostering an inclusive auditing ecosystem.”

These measures represent a significant step towards enhancing the profession's appeal locally, positioning auditing as an accessible career choice for aspiring professionals.

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More about the Audit Development Programme: https://www.irbalearning.co.za/what-is-an-ra/the-ra-qualification

More about the IRBA:

The IRBA is a public protection statutory body established to protect the financial interests of the public by ensuring registered auditors and their firms deliver services of the highest quality. It upholds audit firm independence to ensure that audit quality is such that it enhances the accuracy and credibility of financial performance reporting. In this way, the IRBA has an important role to play in building the reputation of South Africa as an investment market for both local and global investors and driving economic growth for the country.

The IRBA also registers suitably qualified accountants as auditors, who must adhere to the highest ethics standards, and promotes the auditing profession through the effective regulation of assurance conducted in accordance with internationally recognised standards and processes.