IRBA report reveals systemic quality control breaches: Michael Marchant

Newzroom Afrika

Non-compliance with Quality Control Standards, auditing firms lacking effective monitoring systems and those that did not document compliance with internal policies were some of the recurring themes in improper conduct by auditors, found by the Independent Regulatory Board for Auditors in its 2023/2024 Annual Enforcement Report. This as investigations continue on those implicated in state capture crimes. Recently, the Regulatory Board revealed that it has completed its investigations into 20 cases related to state capture, involving 17 auditing firms. To talk more about the role of some auditing firms in state capture and how much accountability has been taken, we are joined virtually by Michael Marchant, Head of Investigations at Open Secrets.