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Moneyweb reports that Shahied Daniels, chief executive of the SA Institute of Professional Accountants (Saipa), has been dismissed with immediate effect following a disciplinary process spanning six months.
He has been found guilty on six charges of contravening the institute’s rules, policies and procedures – amounting to gross negligence, misconduct, and serious governance breaches. Marco van der Walt, representing Daniels, says they have received the outcome of the disciplinary process and are considering further legal action. The process started almost a year ago when legal and governance experts alerted the board to governance concerns and serious allegations against Daniels and the chief operations officer Gavin Isaacs. They were placed under precautionary suspension, and Saipa’s board appointed BDO to conduct a forensic investigation into the allegations. The investigation found prima facie evidence of numerous breaches of governance. Terry Motau SC, the independent chair who led the disciplinary hearing following the outcome of the forensic investigation, found Daniels guilty of serious misconduct, which resulted in Saipa losing confidence and trust in him. The disciplinary process into the conduct of Isaacs is still ongoing.
- Read the full original of the report in the above regard by Amanda Visser at Moneyweb
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