The prescribed manner of re-registration of firms is as follows:
| 17.1 | Payment of a registration fee, which fee is prescribed by the Regulatory Board from time to time; |
| 17.2 | Compliance with all the requirements that would apply with the firm were applying for registration for the first time as specified in section 38 of the APA; |
| 17.3 | Completion and submission of Form 2 (Application by a Firm for Admission to the Register of Auditors) [see ANNEXURE B]; |
| 17.4 | A statement that ISQM1 has been implemented, supported by: |
| 17.4.1 | Satisfactory evidence in respect of all relevant components in accordance with paragraphs 57 to 60 of ISQM1; and |
| 17.4.2 | Satisfactory evidence of compliance with the specified responses in paragraph 34 of ISQM1. |
In assessing the fulfilment of the requirements of paragraph 17.4 above, recognition and application of the scalability considerations described in paragraph 10 of ISQM1 will apply.
| 17.5 | Submission of a business plan in accordance with the information provided in Form 2. |
| 17.6 | Compliance with the requirements of paragraph 3.2 above; |
| 17.7 | The Regulatory Board will not register a firm until the documents required under paragraph 3.2 above have been deemed satisfactory by the Regulatory Board’s reviewer |
| 17.8 | In the event that the firm submits an incomplete or defective application and fails to rectify the application within a period of three months from the Regulatory Board’s request for further documentation, information and/or revised documentation, the firm’s application will lapse on seven days’ notice from the Regulatory Board. |
| 7.9 | In the event of the firm’s application lapsing as contemplated in paragraph 17.7 above, the firm will be required to submit a new registration application should it wish to apply for registration in future. |
| 17.10 | If a firm wishes to register additional branches once the firm is registered with the Regulatory Board, the firm must complete and submit a Form 2A (ANNEXURE C). |
| 17.11 | The requirements set out in paragraphs 3.2 to 3.4 will also be applicable to a non-assurance RA who is a sole proprietor and taking over an existing firm in respect of which the relevant documents have not previously been submitted to the IRBA for evaluation. |
| 17.12 | Submission of confirmation of firm ownership: |
| 17.12.1 | If firm is an incorporated company, a copy of the shareholders agreement, memorandum of incorporation, shareholders register / securities register / share certificates and the latest COR39 from CIPC confirming directors of the firm; |
| 17.12.2 | If firm is a partnership, a copy of the partnership agreement or equivalent. |
| 17.13 | The requirements set out in paragraph 17.4 to 17.8 apply likewise to firms merging or unmerging who have not previously submitted these documents. |
| 17.14 | The requirements set out in paragraph 17.4 to 17.8 apply to firms who are applying for re-registration and who had not previously complied with these requirements. |
