The Bidvest Group: Re-appointment of auditor

The upcoming AGM of The Bidvest Group raises an important issue. Resolution 3 to be voted on by shareholders deals with the appointment of PwC as auditors, and carries a note to the effect that its re-appointment as auditor each year would in future be automatic. Shareholders will not be asked to vote on the matter, […]

Auditor rotation tops PIC’s list of governance issues

Mandatory rotation of auditors is now at the top of the Public Investment Corporation’s hit list of corporate governance issues. Ann Crotty writes that the Public Investment Corporation (PIC), the largest investor on the JSE, has strongly endorsed the push for mandatory rotation of audit firms by voting against the reappointment of audit firms at […]

Audit regulator says support for auditor rotation is growing

Votes against retaining auditors are on the rise, says the Independent Regulatory Board for Auditors. The Independent Regulatory Board for Auditors believes it is making progress in raising shareholder support for the mandatory rotation of audit firms, which becomes effective in 2023. The regulatory body said Telkom and cement company PPC were two recent high-profile […]