Who owns the word “auditing” ? - and other important questions regarding the Auditing Profession Bill

Abstract

The Auditing Profession Bill, in section 2.1(b), states that the object of the proposed Bill is “…overseeing and regulating the auditing profession”. A study of the Auditing Profession Bill, however, clearly indicates that the Bill is directed at certain private sector auditors only and more specifically those persons who are currently registered in terms of the current Public Accountants’ and Auditors’ Act (Act 80 of 1980). But does this elite group of people actually represent the entire auditing profession?