Today's Labour News

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saipaMoneyweb reports that four members of the executive of the SA Institute of Professional Accountants (Saipa) have been placed on precautionary suspension pending the outcome of a forensic investigation.

The investigation was initiated by the Saipa board following governance concerns and serious allegations relating to irregular expenditure, costs associated with the development of an unapproved strategy, and other unaccounted spending. After chief executive Shahied Daniels and operations executive Gavin Isaacs were suspended, it was discovered that fellow executives Nosheena Mansoor and Thomas Nyamvura were attempting to disrupt the investigation, so they were suspended too. Saipa chair Prem Govender pointed out in her communication to members that the precautionary suspensions did not suggest or presume wrongdoing or guilt. Tia van der Sandt, the institute’s risk and compliance committee chair, has been appointed acting chief executive. Govender said Saipa had identified a “suitable service provider” to conduct the forensic investigation, which is expected to be concluded early next year. Meanwhile, a group of “concerned members” wrote a letter to the board requesting a special general meeting of Saipa members. In the letter, the group claimed the appointment of Van der Sandt as acting chief executive was “unconstitutional and inappropriate”.

  • Read the full original of the report in the above regard by Amanda Visser at Moneyweb

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