Jenitha John finally quits IRBA

17 February 2021

After doing enormous damage to the reputation of the Independent Regulatory Board for Auditors (IRBA) and after widespread condemnation of her appointment, Jenitha John has finally resigned from her ill-fated position as IRBA CEO.

The Democratic Alliance (DA) welcomes John’s departure from the top position of IRBA where she was responsible for rebuilding the image of auditors after the numerous high profile audit scandals of recent years. One of the biggest scandals includes Tongaat Hulett, where she apparently failed in her duties as an auditor to prevent or expose an accounting scandal.

The clearly inappropriate appointment of John as the IRBA CEO has set back the fight against the State Capture corruption pandemic. The gory details of State Capture which are being very slowly exposed in the proceedings of the Zondo Commission, often include either auditor failures or auditor participation. The appointment of Ms John defocused the IRBA from the critical job of holding delinquent auditors to account and rebuilding society’s confidence in the audit profession in South Africa.

The importance of the audit profession in protecting investors and thus promoting critically required economic growth and job creation in South Africa cannot be over emphasised. It is critical that Tito Mboweni, the Minister of Finance, stop focusing on food and focus on the critical issues of promoting economic growth including the reestablishment of an IRBA board that is competent and beyond reproach as well as the appointment of an IRBA CEO based simply and only on fitness for purpose.

Issued by Alf Lees, DA Member of the Standing Committee on Public Accounts, 17 February 2021