Finance Minister Tito Mboweni has announced the appointment of Fulvio Tonelli as chairperson of the Independent Regulatory Board for Auditors (IRBA).

In a statement issued on Sunday, the Minister also announced Naidene Ford-Hoon as deputy chairperson of the board.

National Treasury said Mboweni on Friday met with the newly appointed members of the board of directors (BoD) and thanked them for agreeing to serve on the board. The new board was then tasked with electing the new chairperson and deputy chairperson at the meeting.

“The Minister congratulated the board chairperson and deputy chairperson on their election and conveyed his and Cabinet’s full support to the new BoD.

“He wished them well in their roles as they strive to restore credibility of the institution and auditing profession. He reiterated the need for continued interaction between the BoD, Ministry of Finance and National Treasury,” said Treasury.

The Ministry said the immediate task of the board is to initiate a process to elect and appoint the new chief executive officer and to work with management to restore staff morale.

“The last 18 months were challenging, however, the staff remained focused and committed to achieving the objectives of the organisation,” said the Ministry.

The new board is expected to host induction and introduction meetings to familiarise themselves with the task at hand.

Mboweni also expressed his sincere gratitude to the caretaker board comprising Nonkululeko Gobodo and General Roy Andersen.

“We are indebted to Mrs Gobodo and General Andersen for their hard work and patriotism over the past few months, and overseeing the process to establish a stable and credible BoD for the auditing profession,” said the Ministry. 

Source: South African Government News Agency