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The South African Institute of Chartered Accountants (Saica) has come out fighting against one of its own, a former financial accounting lecturer at Wits University and a columnist of Business Day, Khaya Sithole. Sithole’s disciplinary hearing, which started on Friday, is among the first of its kind to be open to the public as part of Saica’s efforts to enhance transparency in the profession. The hearing comes as the reputations of the audit and accounting professions have been seriously tarnished by, among others, KPMG’s work for Gupta family companies and the actions of former Eskom chief financial officer Anoj Singh. Singh is also facing a Saica disciplinary hearing. Sithole had been dishonest and severely mismanaged the Thuthuka Bursary Fund while project manager of the fund at Wits University from 2014 to 2016, counsel for the institute argued on Friday. The fund is a private sector-funded scholarship scheme for black and coloured students from poor families who wish to study a...

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