Saica blames limited powers for delays in cases
The SA Institute of Chartered Accountants (Saica) says it is dependent on other prosecuting authorities to make decisions about membership of errant accountants, such as Markus Jooste. The accountancy body announced on Wednesday that it has terminated membership of former VBS Mutual Bank board chair Tshifhiwa Matodzi. It also said it has begun hearing the sequestration matter of former VBS CEO Andile Ramavhunga and will continue with that hearing in April 2019. The independent disciplinary committee, which ruled on the termination, has not ordered the publication of its ruling but Saica said the sequestration order against Matodzi made it possible to promptly finalise his case. One of the Saica by-laws allows the disciplinary committee to cancel chartered accountant SA (CA(SA)) membership of accountants who have been provisionally or finally sequestrated. Matodzi was provisionally sequestrated by the Johannesburg high court in July last year and Ramavhunga was sequestrated in August...
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