This Live Session examined the state of the auditing profession in South Africa: its challenges and skills shortage, emerging technologies, decreasing client bill rates, staff burnout and how best to promote the auditing profession as a career path. The panel also delved into the importance of auditors for the financial health of corporate South Africa.
In this special Moneyweb Live Session on the current state of auditing and its outlook, Moneyweb editor Ryk van Niekerk was joined by Anoop Ninan, co-CEO of Mazars, Imre Nagy, acting CEO of the Independent Regulatory Board for Auditors (Irba), and Freeman Nomvalo, CEO of the South African Institute of Chartered Accountants (Saica).
This Moneyweb Live Session was livestreamed on Tuesday, March 8 2022 at 11:00.
Anoop Ninan, co-CEO of Mazars
Anoop Ninan is managing partner of Mazars Gauteng and co-CEO of Mazars South Africa. In Johannesburg, he, in turn, heads up the National Corporate Finance division. He has more than 19 years corporate finance experience in due diligence reviews, valuations of companies and intangibles, fair and reasonable opinions, listing and delistings as well as mergers & acquisitions.
Ninan joined Mazars Corporate Finance in August 2006 from EY Corporate Finance where he was an associate director in transaction advisory services. Ninan’s fields of expertise cover various sectors, including property, manufacturing and retail services. Ninan is accredited with the JSE as a reporting accountant specialist and was the reporting accountant specialist on several main board and AltX listings.
Imre Nagy, acting CEO of Irba
Nagy was appointed as Director: Inspections at the Independent Regulatory Board for Auditors (Irba) in February 2013 where he currently heads up the regulatory monitoring (inspections) and remediation function of approximately 4 000 registered auditors in South Africa.
Nagy has, over the last 20 years, gained extensive experience in audit regulation, audit quality monitoring and quality control and performing audits. He also gained extensive experience in accounting, risk management, forensic audit, and public sector advisory. He spent most of his career to date serving the public sector and the public interest.
Underpinning his extensive knowledge and experience in these areas, he has a deep-rooted passion for the auditing profession. He has served as an independent quality/technical advisor to the Auditor-General of South Africa’s Quality Control Assessment Committee since 2013.
Over the past few years, he represented South Africa on several International Forum of Independent Audit Regulators (IFIAR) Board and Plenary meetings as an alternate representative for Irba.
Freeman Nomvali, CEO of Saica
Nomvalo is a non-executive director of various companies. He was the CEO of the State Information Technology Agency. With over 25 years’ work experience, 17 of which were at a senior level in the public and private sectors, he was the first African and longest-serving Accountant-General of a democratic South Africa. During this time, he served on multiple public sector boards.
He led the team that drafted and presented the Audit Profession Act 2005 and worked with 18 Caribbean countries at the request of the Commonwealth Secretariat to develop their country governance framework. Nomvalo assisted Judge Christopher R Nicholson in the committee on the ministerial probe into the financial affairs of Cricket South Africa. He recently served on the Ntsebeza Inquiry into certain Saica (South Africa Institute of Chartered Accountants) members employed by KPMG South Africa during various engagements with public and/or private entities. He was appointed CEO in February 2019.
About Moneyweb Live Sessions:
Moneyweb Live Sessions are a series of livestreamed engaging conversations hosted by Moneyweb, on various topics related to the markets, business, personal finance, property, cryptocurrency and more. The sessions are livestreamed from Moneyweb.co.za, and the Moneyweb Facebook and LinkedIn pages.