South Africa’s  Independent Regulatory Board for Auditors (IRBA) said on Friday it had renewed its contract with CEO Bernard Agulhas for a further two years to March 2020.

 IRBA board chairman Abel Dlamini said the reputation and image of the auditing and accounting professions needed a resolute and committed leader “to restore trust, and ensure the continued confidence of investors, business, government and other stakeholders at a time when the country will benefit from financial market stability and investor confidence”.

 “We believe that Bernard, with his vast understanding of the profession and oversight, locally and internationally, is in the ideal position to help the board to navigate these issues successfully,” Dlamini said.

 The IRBA is currently probing auditor KPMG over a controversial South African Revenue Service and Deloitte’s role as auditor for retailer Steinhoff, which admitted to accounting irregularities in December.

– African News Agency (ANA)