The South African Institute of Chartered Accountants (SAICA) last week wised up to the fact that people were putting two and two together about the involvement of its members in various recent forms of misconduct.
In a statement released on Friday, SAICA said: “Following ongoing media reports of purported unethical behaviour by chartered accountants, the South African Institute of Chartered Accountants (SAICA) has affirmed its absolute commitment to maintain the integrity and ethical standards of the chartered accountancy profession in South Africa.”
The body stated that it would “deal decisively with members who have acted unethically” – after “due investigative and disciplinary processes”.
SAICA Senior Executive for Legal and Governance, Welsh Gwaza confirmed to Daily Maverick on Wednesday that the body is feeling the heat.
“SAICA is significantly concerned with the reputational damage caused by a minority of members to the image of the CA(SA) designation,” Gwaza said.
Gwaza said chartered accountants accused of improper conduct will be referred to SAICA’s disciplinary committee by the body’s professional conduct committee. SAICA by-laws make provision for the cancellation of membership of any member “who has been removed from an office of trust on account of proven misconduct or convicted of theft, fraud or forgery”.
In the case of former KPMG employees, much still rests on the ongoing investigation being carried out by the Independent Regulatory Board for Auditors (IRBA).
The IRBA says its investigation into KPMG is “in the preliminary stages” and it cannot yet anticipate when it might be concluded.
