| (1) | The Regulatory Board must develop a system of delegation that will maximize administrative and operational efficiency and provide for adequate checks and balances, and, in accordance with that system— |
| (i) | in writing delegate appropriate powers, excluding the power to prescribe rules to a committee, the chief executive officer, an employee or any member of the Regulatory Board; and |
| (ii) | assign any committee, the chief executive officer, any employee or member of the Regulatory Board to perform any of its duties; and |
| (b) | in respect of sections 48, 48A, 48B, 49, 50, 51 and 51B with due regard to the varying nature and seriousness of matters arising from these sections, in writing delegate or assign appropriate powers or duties, and oblige the investigating, enforcement and disciplinary committees to delegate or assign appropriate powers or duties to the chief executive officer, any employee or any member of the Regulatory Board. |
[Section 19(1)(b) substituted by section 6(a) of the Auditing Profession Amendment Act, 2021 (Act No. 5 of 2021), Notice No. 228 of GG44493, dated 26 April 2021]
| (2) | A delegation or assignment in terms of subsection (1)— |
| (a) | is subject to such limitations and conditions as the Regulatory Board may impose; |
| (b) | may authorise subdelegation; and |
| (c) | does not divest the Regulatory Board of the delegated power or the performance of the assigned duty. |
| (3) | The powers and duties of the investigating, enforcement and disciplinary committees referred to in sections 48A, 48B, 49, 50 and 51B are deemed delegated and assigned by the Regulatory Board to the committees and are subject to this section. |
[Section 19(3) substituted by section 6(b) of the Auditing Profession Amendment Act, 2021 (Act No. 5 of 2021), Notice No. 228 of GG44493, dated 26 April 2021]
| (4) | The Regulatory Board may confirm, vary or revoke any decision taken by a committee, the chief executive officer, a member of the Regulatory Board or an employee as a result of a delegation or assignment in terms of subsection (1). |
