(9)The Independent Regulatory Board for Auditors (IRBA) is the competent authority of South Africa responsible for the public oversight, external quality assurance and investigations of auditors and audit firms. It implements adequate safeguards prohibiting and sanctioning disclosure by its current or former employees of confidential information to any third person or authority. Under the South African Audit Profession Act 2005 and the IRBA Code of Conduct, the IRBA may transfer to the competent authorities of the Member States documents equivalent to those referred to in Article 47(1) of Directive 2006/43/EC.