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South Africa Voted No 1 For Auditing And Reporting Standards

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South Africa maintained its top position for the strength in standards, KPMG has recently reported that the World Economic Forum (WEF) has ranked SA’s Auditing and Reporting Standards number one in the world. A testament to our country’s consistent commitment to quality auditing and a strong signal to investors that South Africa is a solid investment destination.

SA maintained the number one spot for the fifth consecutive years in a row of rankings according to the WEF Global Competitiveness Index for 2014-2015, released on 3 September.

South Africa’s decision to adopt the globally recognised International Standards on Auditing (ISA) as well as the International Financial Reporting Standards (IFRS) as early as 2005 had a direct impact on South Africa’s leading ranking in this section of the report.