| (1) |
An individual must apply on the prescribed application form to the Regulatory Board for registration as an auditor or a candidate auditor. |
| (1A) |
An individual may only be registered with the Regulatory Board if he or she is a member of a professional body accredited in terms of section 32(2). |
[Section 37(1A) inserted by section 11(a) of the Auditing Profession Amendment Act, 2021 (Act No. 5 of 2021), Notice No. 228 of GG44493, dated 26 April 2021]
| (2) |
If, after considering an application, the Regulatory Board is satisfied that the applicant— |
| (b) |
[Section 37(2)(b) deleted by section 11(b) of the Auditing Profession Amendment Act, 2021 (Act No. 5 of 2021), Notice No. 228 of GG44493, dated 26 April 2021] |
| (c) |
is resident within the Republic; |
| (d) |
is a fit and proper person to practise the profession; and |
| (e) |
has met any additional requirements for registration as prescribed under section 6, |
the Regulatory Board must, subject to subsections (3) and (5), register the applicant, enter the applicant’s name in the applicable register and issue to the applicant a certificate of registration on payment of the prescribed fee.
| (3) |
The Regulatory Board may not register an individual if that individual as a registered auditor or registered candidate auditor if that individual— |
| (a) |
has at any time been removed from an office of trust because of misconduct related to a discharge of that office; |
| (b) |
has been convicted, whether in the Republic or elsewhere, of theft, fraud, forgery, uttering a forged document, perjury, an offence under the Prevention and Combating of Corrupt Activities Act, 2004 (Act No. 12 of 2004), or any offence involving dishonesty, other than an offence committed prior to 27 April 1994 associated with political objectives. |
[Section 37(3)(b) substituted by section 11(c) of the Auditing Profession Amendment Act, 2021 (Act No. 5 of 2021), Notice No. 228 of GG44493, dated 26 April 2021]
| (c) |
is for the time being declared by a competent court to be of unsound mind or unable to manage his or her own affairs; or |
| (d) |
is disqualified from registration under a sanction imposed under this Act. |
| (4) |
For the purposes of subsection (3)(b), the Regulatory Board must take cognisance of the prevailing circumstances in a foreign country relating to a conviction. |
| (5) |
The Regulatory Board may decline to register as a registered auditor or registered candidate auditor an individual who is an unrehabilitated insolvent, has entered into a compromise with creditors, has applied for debt review or has been provisionally sequestrated. |
[Section 37 substituted by section 5 of Act No. 2 of 2015]
Stamp Duties Act, 1968 (Act 77 of 1968)
