The Independent Regulatory Board for Auditors (IRBA), formerly known as Public Accountants and Auditors Board (PAAB), is a statutory body controlling public accountancy in the Republic of South Africa.
The designation conferred by the board is Registered Auditor (RA). It is important to stress that all entrants to the public accountancy profession are subject to consistent requirements. Following qualification, accountants entering into public practice are required to register with the IRBA and are governed by its regulations. Qualified accountants entering other disciplines who are members of a provincial society of chartered accountants, are not subject to the jurisdiction of the IRBA but are subject to the jurisdiction of the South African Institute of Chartered Accountants.
The IRBA functions in terms of the Auditing Profession Act, 2005 (Act 26 of 2005). Its members are appointed by the Minister of Finance, who must appoint competent persons, including registered auditors, to effectively manage and guide the activities of the Regulatory Board, based on their knowledge and experience.
The Board consists of not less than six but not more than 10 members and, disregarding any vacancy in its membership, not more than 40% of the members of the Board may be registered auditors.