The South African Institute for Chartered Accountants (SAICA) disciplinary process was put to the test in 2023. It failed dismally. In its handling of a complaint against CA Graeme Rigby, seemingly systemic problems in SAICA’s disciplinary system were revealed. The conduct of SAICA raises serio.
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What was meant to be a few minutes' stroll on a Port Elizabeth beach before catching a plane back to Johannesburg brought businesswoman Andy Kawa to the harsh realities facing women in our violent society. Kawa, 53, was brutally gang-raped in an ordeal that lasted about 15 hours in a secluded part of King's Beach at Summerstrand, Port Elizabeth, in December 2010.
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Justice must not only be done, justice must be seen to be done. 00:01
A complainantâs tenacity has highlighted how auditor failures âenabledâ the procurement corruption that helped bring SAA to its knees. Image: Guillem Sartorio, Bloomberg
In South Africa nothing exemplifies the arcane and sheltered world of auditing and all its attendant woes quite as much as the consent order system that underpins the Independent Regulatory Board for Auditors (Irba) disciplinary system.
The near-pointlessness of this system is demonstrated by the boardâs quarterly newsletter, which provides a brief description of matters investigated and finalised by consent orders.