SA loses number 1 ranking (out of 138 countries) for auditing standards

South Africa’s latest global competitiveness ranking (according to the World Economic Forum) fell 14 places to 61st.

A large part of the slide is due to the country falling from number one (a ranking it held for seven consecutive years) to number 30 in terms of the quality of auditing and reporting standards.

The Money Show’s Bruce Whitfield interviewed Lindie Engelbrecht, Executive Director of Members and Global Alliances at South African Institute of Chartered Accountants.

Listen to the interview in the audio below (and/or scroll down for quotes from it).

It’s a fall from grace.

Lindie Engelbrecht

It’s not the standards, but the quality of the economy…

Lindie Engelbrecht

It’s an indication of the sentiment towards the South African economy.

Lindie Engelbrecht

The KPMG issue transpired only after this research was conducted.

Lindie Engelbrecht

We’re working to build the trust again.

Lindie Engelbrecht

Let’s not trial by media…

Lindie Engelbrecht

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