Auditing Profession Act, 2005 (Act No. 26 of 2005)NoticesRegulatory Strategy for Independent Regulatory Board for AuditorsPart C : Comprehensive Stakeholder EngagementCommunication Approach |
The IRBA embarked on a strategy refresh to realign our plans to the new realities and expectations, and this included a refreshed stakeholder engagement plan that will allow us to interact and proactively share pertinent information with all our stakeholders.
Our stakeholder principles of engagement set the standards to which we aspire in building consistent, open and respectful working relationships with all our stakeholders, while maintaining our regulatory independence. These principles are:
| • | Purposeful: Every engagement must be clear on what we want to achieve. |
| • | Inclusive: Identify relevant stakeholders and group them according to their level of interest and influence. |
| • | Timely: Involve stakeholders from the start and agree on when and how to engage. |
| • | Transparent: Have open and honest engagements, and set clear expectations. |
| • | Respectful: Acknowledge and respect the expertise, perspectives and needs of stakeholders. |
The IRBA adopts different stakeholder engagement methods, which include scheduled meetings with stakeholders (one-on-one with the CEO); information roadshows for RAs; training sessions with auditors, to update them on developments within the profession; conversations with the boards of directors at the auditing firms; briefings to Parliament and the Minister of Finance; and through addressing strategic forums of affected stakeholders.