A preliminary PriceaaterhouseCoopers (PwC) forensic investigation into various whistleblowing reports at the South African Institute of Chartered Accountants (SAICA) implicates at least 17 people in various incidents of wrong-doing including misconduct, fraud and corruption. Among those implicated are the Chief Financial Officer Abdul-Kader Mohamed, Acting Chief Executive Officer Fanisa Lamola, and Executive Director of Nation Building Chantyl Mulder, whose emails to the Thuthuka Bursary Fund (TBF) show gross abuse of power. She had her daughter’s friends and children close to her business acquaintances put on the programme without going through due process.
The TBF, now at the centre of a disciplinary hearing against one of the Institute’s members, Khaya Sithole, is is co-funded by SAICA and the National Student Financial Aid Scheme (NSFAS). http://uncensoredopinion.co.za/saica-vs-sithole-we-release-some-emails/
A memorandum of a draft agenda for a board meeting, sent to board members on 23 March 2018, details a litany of alleged wrong-doing ranging from soliciting bribes, kickbacks, abuse of SAICA’s Makro card and corporate credit card by some employees, irregular procurement and fictitious invoices and fictitious travel claims.
The final report according to the memorandum, was scheduled for 26 March 2018. However it is unclear whether the forensic audit has been completed and whether it will be made available to members at this morning’s annual general meeting (AGM).
The delay in completing the audit was due to the fact that PWC had not been able to speak to some employees including Mulder who together with two others, are accused of irregular procurement and fictitious invoices. The preliminary report says if found guilty, Mulder would have been in breach of various policies of the Institute including SAICA’s Code of Ethics, SAICA’s Conflict of Interest. “Due to the seriousness of their actions it is recommended that a disciplinary hearings (sic) be held in terms of Chantyl and Belinda and that they be suspended in the meantime…..It is recommended that SAICA lodge a complaint of fraud and corruption against Chantyl and a complaint of fraud against Belinda with the South African Police Services (SAPS)”.
On the matter of Chantyl and Belinda, the report concludes: “Chantyl and Belinda could be found guilty of serious misconduct and may be dismissed and could also be found guilty of fraud and corruption in a court of law…..Should Chantyl be dismissed SAICA’s reputation and brand could be affected. She’s also part of ExCo and ManCo which would greatly affect the workings of those Committees”.