Imre Nagy takes up CEO role at IRBA

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Imre, who has been acting as CEO since February 2021, has been appointed as the company’s permanent CEO.

Imre Nagy, who has been acting as CEO for the Independent Regulatory Board for Auditors (IRBA) since February 2021, has been appointed as the group’s CEO.

“I would like to thank the board for its guidance and leadership and for their confidence in me,” says Imre, who has been with the company for nine years. “I aim to continue to pursue the IRBA’s strategic objectives with dedication.”

Imre took over the leadership of the IRBA in an acting role after then Minister of Finance, Tito Mboweni, dissolved the board and put in place a caretaker board, which was tasked with appointing a permanent CEO. Following a robust recruitment process, Imre was identified for the role.

“My focus over the last year has been on internal processes to support our refocused five-year strategy, and our restoring confidence initiatives, through which I aim to restore confidence and trust in the regulator and the auditing profession, with the support of a strong and dedicated executive team,” he says.

He adds that, IRBA has finalised its roadmap and project charter to guide the related activities, which include strengthening the company’s regulatory capacity and making its profession more attractive. ”Three workstreams have been established, and research and consultations are ongoing to identify key reforms and improvements in each of the focus areas identified.”

Imre believes that all role-players within and outside the profession want IRBA’s registered auditors to demonstrate strong ethical principles, including executing sustainable and consistently high-quality audits that are anchored by strong ethics, governance and regulation.

“I want to ensure that auditors take their rightful place as trusted professionals that promote the sustainability and growth of the economy through the public interest work that they do,” he says. “If we work together and collectively focus on rebuilding our profession, we can reclaim the trust that has been lost and re-establish the value of the audit.”

Imre joined the regulator as director of inspections in February 2013, heading the regulatory monitoring function (inspections), which also undertakes the remediation of registered auditors to promote high audit quality in South Africa. He has held positions at several small and large auditing firms, including two transformed audit firms. Prior to joining IRBA he was director and provincial head of a South African audit network firm.

His commitment to transformation, skills development and promoting access to black professionals is unwavering as demonstrated by his previous roles as Quality Reviewer for the Auditor-General South Africa (AGSA) and as an accredited SAICA Training Officer overseeing the training of aspiring chartered accountants in the Eastern Cape.

From 2013 to 2021, he also served as an independent quality/technical advisor to the Auditor-General South Africa’s (AGSA) Quality Control Assessment Committee.

Imre is also involved in global audit regulation. He is currently a board member and the Audit and Finance Committee Chairperson of the International Forum of Independent Audit Regulators (IFIAR), and serves on its Inspections Working Group, where independent audit regulators from 54 countries share their knowledge and experiences. He is also a non-executive director of the IFIAR Association.

He holds a BCom (Honours), certificate in the Theory of Auditing, a postgraduate diploma in auditing and a professional certificate in regulatory affairs. He is a CA(SA), a registered auditor and a member of the Institute of Directors South Africa (IODSA).

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