SAICA CEO seconded to the Commission of Inquiry into State Capture

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Johannesburg, 07 March 2018 – The SAICA Board wishes to inform members and stakeholders of the decision to second SAICA’s Chief Executive Officer, Terence Nombembe, to the Judicial Commission on State Capture.  The board acceded to a request by the Deputy Chief Justice, Raymond Zondo. In terms of the secondment, Nombembe will assist Zondo in the Commission’s investigative work for an initial period of six months.  In reaching this decision, the board took into account a number of factors, including some of the items listed below.

SAICA responds to EFF comments on Trillian donation

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Johannesburg, 08 March 2018 - The Chairman and Acting CEO of the South African Institute of Chartered Accountants (SAICA) take this opportunity to make it clear to the South African public that SAICA and its entities have never been party to any form of state capture or been consciously involved with those accused of any such dealings.

Accountability in the Accounting Profession and SAICA’s role

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Johannesburg, Friday 13 April 2018 - Back in the day accountants were viewed as task-oriented, pedantic bean counters, typically cast as introverted, glass-wearing math geniuses. Today, however, the picture is quite different and the scope of work has broadened. What does remain consistent is they have always been expected to maintain the values of their professional code of conduct.

SAICA and KPMG part ways

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Johannesburg, 01 June 2018 – The South African Institute of Chartered Accountants’ (SAICA) Board has accepted KPMG’s offer to resign as SAICA’s external auditors, citing possible perceived independence concerns if they were to perform the 2018 audit as a result of the current SAICA-appointed Ntsebeza Inquiry which is looking into some of the former and current KPMG-employed Chartered Accountants and which will be concluding shortly. All the parties believe this is in the best interests of SAICA, its members and KPMG.

SAICA Board approves the issuing of public statements regarding the progress and outcome of its disciplinary hearings

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Johannesburg, 7 June 2018 – The South African Institute of Chartered Accountants (SAICA) has amended its by-laws to permit the issuing of public statements by the SAICA chief executive officer (CEO) regarding the institution of any complaint or investigation or action against a member once a draft charge sheet or a charge sheet has been issued to such member and such matter, complaint, investigation or action is, in the opinion of the CEO, in the public interest. This decision is aimed at ensuring that the transparency of the SAICA disciplinary processes is enhanced.