Options being considered include the subcontracting of parts of an audit to smaller empowerment firms so that they are able to gain the appropriate experience required to audit banks and financial institutions. The South African Reserve Bank is leading by example in this regard.
Our Bank is now audited by PriceWaterhouseCoopers, Deloitte and Touche and SizweNtsaluba VSP Inc, the latter being a black auditing firm. 10. Conclusion  Indeed it has been my pleasure to participate in this forum. I hope I have shed some light on the issues that are currently occupying the efforts of the South African Reserve Bank.