House Chair, as the ANC we noted that the current Act did not regulate candidate auditors. As earlier indicated, the proposed amendments will ensure that all aspiring registered auditors are under the jurisdiction of the Independent Regulatory Board for Auditors.
The new Audit Development Programme, introduced in these amendments, will go a long way in ensuring that appropriate audit competency levels are realised by candidate auditors. It provides an opportunity for a specialisation period by professional accountants who want to become registered auditors. This model proposed in these amendments introduces a period of specialist training prior to any chartered accountant becoming a registered auditor.
The ANC supports the amendments because, firstly, they ensure better audit services and the protection of our people. We further support these amendments because we think they are on course to ensure that we construct a developmental South Africa. I thank you very much. [Applause.]