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Research Review: A review of entities contracted to medical schemes for auditing services in South Africa

Audit firms are important in ensuring companies’ financial statements are reliable and accurate. The Independent Regulatory Board for Auditors (IRBA) regulates the audit profession in South Africa. The IRBAsets auditing and ethical standards and oversees the registration and monitoring of auditors and audit firms. According to a 2020 report by the IRBA, there are over 4,200 registered auditors and more than 400 registered audit firms in South Africa. The Big Four audit firms (PwC, KPMG, Deloitte, and EY) dominate the audit market, with a combined market share of over 80%. However, several mid-tier and smaller audit firms also operate in the country.

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