Over the past few years the audit industry has been under significant scrutiny where the independence of auditors has been questioned. In response to this and to further drive auditor independence, the Independent Regulatory Board for Auditors (IRBA) issued a rule prescribing that auditors of public interest entities (PIEs) in South Africa must comply with mandatory audit firm rotation (MAFR) with effect from 1 April 2023. So what is a PIE? PIEs are: All listed entities; and Any entity defined by regulation or legislation as a public interest entity or for which the audit is required by regulation or legislation […]