| 13.1 | In order to renew his or her registration with the Regulatory Board on an annual basis, it is prescribed that a registered auditor must: |
| 13.1.1 | Pay an annual fee by a specified date, which fee is prescribed by the Regulatory Board from time to time; |
| 13.1.2 | Ordinarily reside within the Republic of South Africa; |
| 13.1.3 | Comply with the IRBA CPD policy as amended from time to time; and |
| 13.1.4 | Complete and submit an individual Annual Return by a specified date, which Annual Return comprises6: |
| 13.1.4.1 | a compliance questionnaire relating to the Financial Intelligence Centre Act, 38 of 2001; |
| 13.1.4.2 | a public practice questionnaire, including questions about a registered auditor’s assurance status; |
| 13.1.4.3 | a Continuing Professional Development questionnaire; |
| 13.1.4.4 | a Fit and Proper questionnaire; |
| 13.1.4.5 | a tax compliance declaration; and |
| 13.1.4.6 | a declaration that the registered auditor is in good standing with the Regulatory Board. 2 |
| 13.1.4.7 | a declaration that the registered auditor is in good standing with his or her accredited professional body. |
| 13.2 | It is further prescribed that if the registered auditor fails to pay his annual fees by the specified date, the registered auditor’s registration automatically lapses in terms of section 39(5) of the APA. |
| 13.3 | It is further prescribed that if the registered auditor fails to submit his complete Individual Annual Return by the specified date, the registered auditor’s registration will be cancelled in terms of section 40(2) read with 39(3) of the APA for failing to meet the annual renewal requirements. |
| 13.4 | It is further prescribed that, with effect from the year starting 1 April 2022, failure to comply with the Regulatory Board’s CPD Policy, as amended, and its requirements will result in the RA’s registration not being renewed. |
| 13.5 | It is further prescribed that, with effect from 1 April 2022, registered auditors who are not in good standing with the Regulatory Board, as at the date on which the Individual Annual Return is submitted, will not be eligible to renew their registration with the Regulatory Board. |
| 13.6 | It is further prescribed that a Registered Auditor who is no longer residing within the Republic of South Africa will not be eligible for the renewal of his/her registration. |
| 13.7 | Reinstatement of a registered auditor whose registration has lapsed or been cancelled in terms of paragraph 13.2 and 13.3 above |
| 13.7.1 | It is prescribed that if the registered auditor’s registration is lapsed or cancelled in terms of paragraph 13.2 or 13.3 above, the registered auditor may request reinstatement on payment of a prescribed administration fee, together with payment of the outstanding annual fees and/or submission of the outstanding Annual Return and any other fees or documents that are outstanding to the Regulatory Board. |
| 13.7.2 | It is further prescribed that the registered auditor may apply for reinstatement in terms of paragraph 13.7.1 above up until 31 March of the calendar year following the calendar year of lapsing or cancellation of registration. Late reinstatements may be considered based on the registered auditor’s individual circumstances. |
| 13.7.3 | It is further prescribed that if the registered auditor does not apply for reinstatement before 31 March of the calendar year following the calendar year of the annual renewal process in which he/she was lapsed or cancelled, the registered auditor may apply for re-registration of registration from 1 April of the calendar year following the calendar year of lapsing or cancellation of registration. |
| 13.7.4 | It is further prescribed that, if a registered auditor whose registration has lapsed or been cancelled does not apply for re-instatement, the registered auditor may not apply for reregistration until 1 April of the calendar year following the calendar year of lapsing or cancellation. |
| 13.8 | Reinstatement of a registered auditor whose registration has not been renewed as a result of non-residence within South Africa |
| 13.8.1 | It is prescribed that a registered auditor whose registration has not been renewed as a result of non-residence within South Africa, may only be reinstated if he/she provides evidence of residence within South Africa by 31 March of the calendar year following the calendar year of the annual renewal process in which his/her registration was not renewed. |
| 13.8.2 | It is further prescribed that a registered auditor described in 13.8.1 above, may only apply for re-registration: |
| 13.8.2.1 | after 1 April of the calendar year following the calendar year of the annual renewal process in which his/her registration was not renewed; and |
| 13.8.2.2 | if he/she provides evidence of his/her ordinary residence within South Africa, pays the prescribed fee and submits all outstanding documents to the Regulatory Board. |
| 13.9 | Reinstatement of a registered auditor whose registration has not been renewed as a result of non-compliance with the IRBA’s CPD policy, as amended |
| 13.9.1 | It is prescribed that a registered auditor whose registration has not been renewed as a result of non-compliance with the IRBA’s CPD policy, as amended, may only be reinstated if he/she has submitted evidence of compliance with the CPD policy by 31 March of the calendar year following the annual renewal process in which his/her registration was not renewed. |
| 13.9.2. | Evidence referred to in 13.9.1 above will be evaluated and must be confirmed as satisfactory to the Regulatory Board before 31 March of the calendar year following the annual renewal year in which his/her registration was not renewed, before such a reinstatement can be processed. |
| 13.9.2 | It is prescribed that a registered auditor, whose registration has not been renewed as a result of non-compliance with the IRBA’s CPD policy, as amended, may only apply for re-registration: |
| 13.9.2.1 | after 1 April of the calendar year following the year of the annual renewal process in which his/her registration was not renewed; and |
| 13.9.2.2 | if he/she has submitted, to the satisfaction of the Regulatory Board, evidence of compliance with the CPD policy, and has paid the prescribed fee and submitted all outstanding documents to the Regulatory Board. |
| 13.10 | Reinstatement of a registered auditor whose registration has not been renewed as a result of the failure to maintain good standing with the Regulatory Board |
| 13.10.1 | It is prescribed that, if a registered auditor whose registration has not been renewed as a result of the failure to maintain good standing with the Regulatory Board as at the time of submission the Individual Annual Return, may only be reinstated once: |
| 13.10.1.1 | the registered auditor has, to the satisfaction of the Regulatory Board, remedied any conduct which affected his standing with the Regulatory Board7. |
| 13.10.1.2 | It is further prescribed that the registered auditor who may apply for reinstatement of his registration in terms of paragraph 13.10.1 above up until 31 March of the calendar year following the year of the non-renewal of his registration. Late reinstatements may be considered based on the registered auditor’s individual circumstances. |
| 13.10.1.3 | It is further prescribed that if the registered auditor does not apply for reinstatement of his registration before 31 March of the calendar year following the year of the annual renewal process in which his/her registration was not renewed, the registered auditor may re-apply for the Regulatory Board to be re-registered from 1 April of the calendar year following the year of the annual renewal process in which his/her registration was not renewed. |
| 13.11 | Reinstatement of a registered auditor that is a firm whose registration has not been renewed as a result of the failure to maintain good standing with the Regulatory Board |
| 13.11.1 | It is prescribed that, if a registered auditor who is a firm whose registration has not been renewed as a result of the failure to maintain good standing with the Regulatory Board may only be reinstated once: |
| 13.11.1.1 | the firm has, to the satisfaction of the Regulatory Board, remedied any conduct which affected its standing with the Regulatory Board8. |
| 13.11.1.3 | It is further prescribed that the firm may apply for reinstatement of its registration in terms of paragraph 13.11.1 above up until 31 January of the calendar year following the year of the non-renewal of its registration. Late reinstatements may be considered based on the firm’s individual circumstances. |
| 13.11.1.4 | It is further prescribed that if the firm does not apply for reinstatement of its registration before 31 January of the calendar year following the year of the annual renewal process in which its registration was not renewed, the firm may re-apply for the Regulatory Board to be re-registered from 1 February of the calendar year following the year of the non-renewal of its registration. |
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| 6 | The content of the questionnaires comprising the Individual Annual Return may change from time to time as determined by the Regulatory Board |
| 7 | This includes compliance with any outstanding obligations, payment of any outstanding fees or debts (or making an appropriate arrangement), upliftment of any suspension or compliance with any disciplinary order or sanction. |
| 8 | This includes compliance with any outstanding obligations, payment of any outstanding fees or debts (or making an appropriate arrangement), upliftment of any suspension or compliance with any disciplinary order or sanction. |
