Auditing Profession Act, 2005 (Act No. 26 of 2005)Chapter II : Independent Regulatory Board for AuditorsPart 7 : National government oversight and executive authority28. Executive authority |
| (1) | The Minister is the executive authority for the Regulatory Board in terms of the Public Finance Management Act and the Regulatory Board is accountable to the Minister. |
| (2) | The Minister must— |
| (a) | ensure that the Regulatory Board complies with this Act, the Public Finance Management Act and any other applicable legislation; |
| (b) | ensure that the Regulatory Board is managed responsibly and transparently and meets its contractual and other obligations; |
| (c) | establish and maintain clear channels of communication between him or her and the Regulatory Board; and |
| (d) | monitor and annually review the performance of the Regulatory Board. |