From the start, the appointment of Jenitha John as the new CEO of the IRBA ruffled many furthers. Now, it appears that she may still be under investigation by the JSE. Photo: Verskaf
Former board member of the auditing watchdog, Iqbal Motala says not everyone wants Jenitha John gone. In fact, some of the directors that resigned from the Independent Regulatory Board for Auditors (IRBA) recently, prompting the finance Minister Tito Mboweni to dissolve the board last week believed in her. There’s more to this story Subscribe to News24 and get access to our
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The Independent Regulatory Board for Auditors (Irba) has been thrown into another governance crisis after Finance Minister Tito Mboweni dissolved the entire board of a watchdog that investigates auditing failures in corporate SA.
This means that Irba doesn’t have a permanent board and it doesn’t comply with the Auditing Profession Act, which requires the watchdog to have between six and 10 individuals on the board to quorate.
In a statement on Thursday 28 January, the National Treasury said Mboweni – who oversees the governance of Irba but not its day-to-day administration – has appointed Nonkululeko Gobodo and Roy Andersen to act as “caretakers” until a permanent board has been appointed within the next three months.