Kaya 959 Kaya Biz

SA auditors could face up to R25 million in penalties for improper conduct.

Loading player...
GUEST - Imre Nagy, CEO for the Independent Regulatory Board for Auditors (IRBA)

Minister of Finance Enoch Godongwana recently increased the maximum monetary fines that the Independent Regulatory Board for Auditors (IRBA) can impose on auditors. These new fines will apply to auditors and auditing firms that have been charged with improper conduct and who admit guilt or who are found guilty following a disciplinary hearing.

The maximum monetary fines the IRBA can now impose are as follows.

* Admission of guilt: R5 million per charge for an individual auditor; R15 million per charge for a firm of auditors.

* Found guilty following a disciplinary hearing: R10 million per charge for an individual auditor; R25 million per charge for a firm of auditors.
20 Jun 2023 5PM English South Africa Business News · Investing

Other recent episodes

Mine 2026: The New Battleground for Global Mining

PwC’s Mine 2026 report shows miners posting record profits — yet facing unprecedented structural pressures. Energy Utilities and Resource Assurance Partner Vuyiswa Khutlang breaks down the three imperatives reshaping mining: policy stability, capital mobilisation, and technology‑driven productivity. We explore copper’s surge, coal’s decline, selective M&A, and why geology alone no…
29 Jun 5PM 16 min

How Middle East Shocks Hit Africa’s Politics & Economy

The Middle East ceasefire may hold — or unravel. Either way, Africa is already feeling the tremors. Political analyst Jervin Naidoo maps how geopolitical shocks strain fiscal balances, fuel inflation, election stability, capital flows and sovereign risk premiums across the continent. A deep dive into Africa’s political vulnerability and the…
29 Jun 5PM 18 min

R316 Million for Impact: How E Squared Is Rewiring Entrepreneurship

E Squared’s 2025 Impact Report showcases a powerful model of patient capital, responsible entrepreneurship and transformation-driven investing. CEO Gladwyn Leeuw explains the shift to “lives meaningfully improved", the pipeline‑to‑scale approach, backing Black and female founders, and building businesses that endure — all while delivering commercial and social returns.
29 Jun 5PM 14 min

Inside Siyakhokha: How Ekurhuleni Is Modernising Municipal Payments

Ekurhuleni’s finances — and its ability to deliver reliable services — depend on a strong partnership with residents. MMC for Finance Alderman Jongizizwe Dlabathi explains how the City’s Siyakhokha platform is transforming municipal payments through convenience, security and digital efficiency. From registering online to logging queries and making payment arrangements,…
25 Jun 4PM 15 min

African Bank sees R624mn half-year loss, Capital ratio 25.8% keeps ops standing

African Bank has entered a new chapter shifting from years of acquisitive expansion to a disciplined phase of consolidation. Interim Group CEO Zweli Manyathi breaks down the R624m loss, the credit environment, cost‑to‑income pressures, and the bank’s strategy to unlock value from its diversified platform.
25 Jun 4PM 21 min
All episodes