BDO finds contraventions of the rules, policies, codes and procedures by top executives at Saipa.
The forensic investigation into allegations of governance breaches at the South African Institute of Professional Accountants has been completed.
The investigation was initiated late last year following governance concerns and serious allegations relating to irregular expenditure, costs associated with the development of an unapproved strategy, and other unaccounted spending. It has “unanimously accepted” the recommendations that Daniels and Isaacs be subjected to a disciplinary process to answer the findings in the BDO report.
“However, as this is a confidential process and no findings have been made, I will not be commenting on the substance thereof,” he added.The BDO investigation found that the executives failed to protect and promote Saipa’s “operations, finances, reputation, and goodwill” to the best of their ability.
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