PROFESSIONAL ETHICS
Saica weighs misconduct charges against top chartered accountant
Former PwC director Robert Newsome faces a five-year suspension and a hefty fine if he is found guilty
The disciplinary committee of the South African Institute of Chartered Accountants (Saica) is expected to release its decision on charges of misconduct against Robert Newsome, a chartered accountant and former director of PwC, within two weeks. If found guilty, Newsome faces a five-year suspension from Saica and may have to pay R100,000 towards the institute’s legal costs. At a hearing on Friday, Saica outlined sections of the code Newsome allegedly breached. These included provisions relating to conflicts of interest, the requirement to act in the public interest and to act with integrity, objectivity and professionally. Saica’s charges stemmed from a complaint lodged by Simon Mantell in August 2017. Mantell’s complaint was prompted by Newsome’s handling of a disciplinary hearing following an investigation by the Institute of Internal Auditors SA (IIA SA) into the behaviour of South African Airways executive Siyakhula Vilakazi. Vilakazi is chief audit executive of SAA and Newsome w...
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