Introduction
Malta is considered a reputable jurisdiction for Mergers and
Acquisitions (hereinafter M&A ) activity and has
proved to be a highly attractive forum through which M&A
transactions are structured. The legislative framework for M&A
activity in Malta, as is the case in many other jurisdictions, is
composed of various laws and regulations that seek to regulate a
number of aspects that may feature in M&A transactions which
include both local and cross-border activities. However, the
principal legislation regulating Mergers and Acquisitions of
companies in Malta is the Companies Act (Chapter 386 of the Laws of
Malta) (hereinafter Companies Act ).
Accountancy body lays charges of misconduct against Markus Jooste
By Edward West
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CAPE TOWN - THE South African Institute of Chartered Accountants (SAICA) said yesterday that, following an extensive period of investigation, charges of misconduct had been laid against former Steinhoff chief executive Markus Jooste.
SAICA said Jooste had conducted himself in a manner which “is discreditable, dishonourable, dishonest, irregular or unworthy, or which is derogatory to the Institute, or tends to bring the profession of accountancy into disrepute; and/or that he failed to maintain and adhere to the fundamental principles in the SAICA Professional Code of Conduct for Chartered Accountants”.
Jaco Marais
South African Institute of Chartered Accountants (SAICA) has charged former Steinhoff CEO Markus Jooste with four counts of misconduct.
He has 21 days to respond to the charges.
SAICA said its disciplinary committee considers Jooste discreditable, dishonourable, dishonest, irregular or unworthy .
The South African Institute of Chartered Accountants (SAICA) says it is ready to start disciplinary proceedings against former Steinhoff CEO Markus Jooste.
The country s professional body for accountants has slapped Jooste with four charges for dishonesty, being unworthy of SAICA membership and bringing the accountancy profession into disrepute, among other things.
SAICA said Jooste has 21 days to respond to its charges.
SAICA announces charges of misconduct against Markus Jooste
The South African Institute of Chartered Accountants (SAICA) has announced that they will be undertaking disciplinary action against disgraced Steinhoff CEO, Markus Jooste. The keen horse breeder left Steinhoff just before the company was embroiled in a financial scandal. The alleged financial fraud that took place was not only investigated by South African authorities, but by forensic auditors at PwC – payed for by Steinhoff. Bloomberg reported that officials showed vert little progress in getting closer to the accounting irregularities within the company. Jooste himself was fined around R162 million by the FSCA for insider trading. The former CEO left many South Africans outraged, as he is yet to face the consequences for his alleged involvement in the inside-trader related events. Among those who lost money is Christo Wiese, who lost a considerable chunk of his vast fortune. However, Jooste may just have to face the mu
Almost two years after suspending Markus Jooste, the former CEO of Steinhoff, from its membership, the South African Institute of Chartered Accountants (Saica) has charged him with four separate counts of misconduct.
These include a breach of his obligation to act with objectivity and integrity; behaving dishonourably and dishonestly and bringing the profession of accountancy into disrepute; non-compliance (or suspected non-compliance) with the Companies Act and the Financial Markets Act; and non-disclosure of accounting irregularities.
Jooste has 21 days to respond to the charges. Once his response has been received, the Saica secretariat will review the response and table the matter for adjudication before the Professional Conduct Committee.