Report of the Standing Committee on Finance on the Auditing Profession Amendment Bill [B 15 - 2014] (National Assembly- section 75), dated 24 February 2015.

Finance Standing Committee

Report of the Standing Committee on Finance on the Auditing Profession Amendment Bill [B 15 - 2014] (National Assembly- section 75), dated 24 February 2015.
 

The Standing Committee on Finance, having considered and examined the Auditing Profession Amendment Bill [B 15 - 2014] (National Assembly- section 75), referred to it, and classified by the JTM as a section 75 Bill, reports the Bill with amendments [B15A – 2014].

 

The Committee further reports that it has noted the extremely low representation of previously disadvantaged groups in the auditing profession. While recognising the challenges, it is a matter of concern to the Committee that only 8% of auditors in South Africa are African. While the percentage of female auditors has grown from 14 to 23%, the Committee finds this also unacceptable. The Committee strongly recommends that new and innovative ways be found to increase the representivity of auditors in both racial and gender terms. National Treasury, the Independent Regulatory Board for Auditors (IRBA), other relevant professional associations, higher education institutions, Parliament and other stakeholders all have a role to play in this regard.

 

The Committee further reports that the Democratic Alliance (DA) reserved its position on the Bill.

 

 

 

Report to be considered