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Disciplinary committee chair dismisses application for recusals of two committee members. 00:01
About 18 000 investors invested an estimated R5bn in Sharemax Investmentâs schemes. Image: Moneyweb
The Independent Regulatory Board for Auditors (Irba) disciplinary hearing against the three former auditors to the failed Sharemax Investments property syndication schemes is set to continue.
This follows a decision by Advocate Anthea Platt, chair of the disciplinary hearing, dismissing an application by Advocate Mike Maritz, appearing for the three auditors, for the recusal of Suren Sooklal and Horton Griffiths, two members of the disciplinary hearing committee.
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Following an application for the recusal of two members of the disciplinary committee. 00:01
No end in sight for this particular part of the Sharemax controversy. Image: Moneyweb
The Independent Regulatory Board for Auditors (Irba) disciplinary hearing against former auditors of the failed Sharemax property syndication scheme has been postponed
sine die (indefinitely).
This follows Advocate Mike Maritz, appearing for the three auditors, this week submitting an application for the recusal of two committee members of the disciplinary committee on the grounds of actual bias or perceived bias related to the proceedings.
Read:
Accusations and denialsÂ
Advocate Kate Hofmeyr, appearing for Irba, said on Wednesday the allegations made by Maritz that she had misled the committee in her opening address are unfounded and untrue.
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Says it could be an exercise in futility to continue with the matter. 00:01
Mike Maritz has raised questions about the independence of the independent regulatory boardâs disciplinary committee members. Image: Shutterstock
The actual or perceived bias of two members of the Independent Regulatory Board for Auditors (Irba) disciplinary committee in the disciplinary hearing against three former auditors of Sharemax has made the case a nullity, argued advocate Mike Maritz.
A nullity in law is defined as something which may be treated as if it did not exist or never happened.
Maritz, who is appearing for Jacques Andre van der Merwe, Danie Dreyer and Petrus Johannes Jacobus Bekker, said this during an application this week for the recusal of Sorenzo Sooklal and Horton Griffiths, two members of the disciplinary committee hearing the case.