[Section 49 heading substituted by section 17 of the Auditing Profession Amendment Act, 2021 (Act No. 5 of 2021), Notice No. 228 of GG44493, dated 26 April 2021]
| (a) | follow an admission of guilt process if the enforcement committee believes that the improper conduct of the registered auditor does not warrant a sanction contemplated in section 51B(3)(a)(iv) or (v); or |
| (b) | refer the matter to the disciplinary committee for a disciplinary hearing. |
| (2) | The enforcement committee must furnish a charge sheet to the registered auditor concerned by electronic means or registered mail. |
[Section 49(2) substituted by section 20(a) of the Financial Matters Amendment Act, 2023 (Act No. 9 of 2023), Notice No. 3651 of GG48917, dated 7 July 2023 - effective 14 July 2023 per Commencement Notice No. 3683 of GG48962, dated 14 July 2023]
| (3) | A charge sheet must inform the registered auditor charged— |
| (a) | of the details and nature of the charge; |
| (b) | that the registered auditor, in writing, admit or deny the charge; |
| (c) | that the registered auditor, together with the admission or denial, submit a written explanation regarding the improper conduct with which charged and, if guilt is admitted, submit factors in mitigation of sentence; and |
| (d) | of the period, which must be reasonable but may not exceed 30 days, within which the plea or the amended plea in terms of paragraph (b) must be submitted to the enforcement committee. |
| (4) | If a registered auditor admits guilt to the charge— |
| (a) | the registered auditor is considered to have been found guilty as charged; and |
| (b) | the enforcement committee must, if it believes that the improper conduct of the registered auditor— |
| (i) | does not warrant a sanction contemplated in section 51B(3)(a)(iv) or (v), deal with the matter in accordance with section 51; or |
| (ii) | warrants a sanction contemplated in section 51B(3)(a)(iv) or (v), refer the matter to the disciplinary committee for a hearing on the sanction. |
[Section 49(2) substituted by section 20(b) of the Financial Matters Amendment Act, 2023 (Act No. 9 of 2023), Notice No. 3651 of GG48917, dated 7 July 2023 - effective 14 July 2023 per Commencement Notice No. 3683 of GG48962, dated 14 July 2023]
| (5) | If a registered auditor denies guilt or fails to submit a denial or plea or if the enforcement committee made a decision in terms of section 49(1)(b), the enforcement committee must, on the expiry of the period referred to in subsection (3)(d), refer the charge sheet and any plea received to the disciplinary committee to be dealt with in accordance with section 50. |
| (6) | The acquittal or the conviction of a registered auditor by a court of law on a criminal charge is not a bar to proceedings against the registered auditor under this Act on a charge of improper conduct, even if the facts stated in the charge of improper conduct would, if proved, constitute— |
| (a) | the offence stated in the criminal charge on which the registered auditor was acquitted or convicted; or |
| (b) | any other offence of which the registered auditor might have been acquitted or convicted, at the trial on the criminal charge. |
[Section 49 substituted by section 17 of the Auditing Profession Amendment Act, 2021 (Act No. 5 of 2021), Notice No. 228 of GG44493, dated 26 April 2021]
