The auditing profession is under threat largely from the decline in the number of registered auditors in the country, leaving South Africa on the brink of a larger corporate failure unless systematic constraints in the profession are addresses as a matter of urgency.
National President of the Association for the Advancement of Black Accountants of Southern Africa, Tantaswa Fubu spoke to John about how big a problem is this, underlying factors and what needs to be done to address this.
Fubu says that the problems arise from what she calls 'over regulation', there are a lot of requirements for one to qualify to be an auditor. She also says that the financial reward to be an auditor is also inadequate for the kind of training required.
Listen to the full interview below:
This article first appeared on 702 : Why there's a decline in number of auditors