Auditing Profession Act, 2005 (Act No. 26 of 2005)

Board Notices

Independent Regulatory Board for Auditors

Public Practice Examination (PPE) - Examination Regulations

1. Definitions
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1.1 The following terms shall, unless expressly otherwise stated or inconsistent with the context in which they appear, have the following meanings:

 

1.1.1 "the Academic Traineeship Programme ("ATP")" means a programme that allows academically strong students, upon successful completion of their studies, to spend the first year of the three-year training contract in academia at a South African Institute of Chartered Accountants ("SAICA") accredited university, instead of in public practice or commerce and industry;

 

1.1.2 "the Act" means the Auditing Profession Act, Act 26 of 2005;

 

1.1.3 "the auditing specialism course" means a post-graduate course or equivalent, accredited by SAICA and recognised by the IRBA for entry into the Public Practice Examination ("PPE");

 

1.1.4 "the Certificate in the Theory of Accountancy ("CTA")" or equivalent means a post graduate qualification conferred by an education institution whose programmes are accredited by SAICA and recognised by the IRBA;

 

1.1.5 "the Curriculum Framework" means a document which defines the professional competencies required of persons entering the auditing profession and the context in which such competencies should be demonstrated;

 

1.1.6 "the Education Committee" means the Education, Training and Professional Development Committee established by the IRBA on 20 June 2006 under section 20(2)(c) of the Act;

 

1.1.7 "the examination index number" means the unique number assigned to a candidate upon registration for the Public Practice Examination;

 

1.1.8 "the Examinations Committee" means a sub-committee of the Education Committee established by the IRBA on 21 September 2006 under section 20(1) of the Act;

 

1.1.9 "the examination stationery" means the official stationery supplied by the IRBA to candidates who sit the Public Practice Examination. It includes, inter alia, the question papers, answer books, attendance registers and Public Practice Examination declarations;

 

1.1.10 "the invigilator" means a person duly appointed by the Education Committee to administer the Public Practice Examination on behalf of the IRBA at various accepted venues within and outside the South African borders;

 

1.1.11 "the IRBA" means the Independent Regulatory Board for Auditors established by section 3;

 

1.1.12 "the marker" means a person duly appointed by the Examinations Committee to mark the examination scripts of the Public Practice Examination;

 

1.1.13 "the Qualifying Examination" means the core assessment programme of SAICA which is recognised by the IRBA;

 

1.1.14 "registered auditor" means an individual or firm registered as an auditor with the IRBA;

 

1.1.15 "the supervisor" means a person duly appointed by the Education Committee to supervise the Public Practice Examination's administration and invigilation procedures at an examination venue and to randomly check the texts of candidates;

 

1.1.16 "the trainee accountant ("trainee")" means a candidate who is serving under a South African Institute of Chartered Accountants' recognised training contract;

 

1.1.17 "the training contract" means a written training contract, entered into on the prescribed form and registered with the IRBA , whereby a prospective registered auditor is duly bound to serve an organisation for a specific period and is entitled to receive training in the practice and profession of a registered auditor;

 

1.1.18 "an umpire" means a person duly appointed by the Examinations Committee to have overall responsibility for the marking of a particular question of the Public Practice Examination and making comments on such question for purposes of adjudication; and

 

1.1.19 "these Regulations" means the Examinations Regulations prescribed under section 10(1) and includes these definitions; and

 

1.2 any reference to any section in these Regulations is a reference to the corresponding section of the Act;

 

1.3 these Regulations shall, wherever possible, be construed in conformity with the Act; and

 

1.4 the headings in these Regulations shall be taken into account in the interpretation of these Regulations.