Khaya Sithole Saica hearing to continue

The South African Institute of Chartered Accountants (Saica) inquiry into chartered accountant, commentator and former Wits lecturer Khaya Sithole will resume on Wednesday.

His hearing kicked off in June, after he was accused of acting without integrity and against the professional ethics of the accounting industry by irregularly adding 129 students to Saica’s scholarship scheme, the Thuthuka Bursary Fund (TBF), between 2014 and 2016, while programme manager at the University of the Witwatersrand.

This is the first inquiry by Saica that is open to the public, as the accountancy profession has increasingly attracted criticism for various scandals including KPMG, former Transnet and Eskom chief financial officer Anoj Singh and disgraced Steinhoff CEO Markus Jooste.

Saica has been accused of not holding errant CAs accountable, and disciplinary processes being too slow.

In June, testimony was heard that Sithole awarded Wits accountancy students TBF bursaries while using a document with TBF’s project director Nthato Selebi’s forged signature, which cost Saica R10m that was not budgeted for.


In a hard-hitting affidavit, however, Sithole accused a number of high-level officials, including Wits vice-chancellor Adam Habib, Saica CEO and TBF trustee, Terrence Nombembe, then National Student Financial Aid Scheme chairperson and Thuthuka chair Sizwe Nxasana, Saica executive director and Thuthuka custodian Chantyl Mulder, and Associate Professor head of School of Accountancy at Wits, Nirupa Padia of ordering him to add students to the bursary scheme without following due process.

Sithole is yet to testify before the commission and is being represented by Advocate Tembeka Ngcukaitobi.

Meanwhile, also in June, Saica announced a governance review of the organisation by former chairperson of the King Committee on Corporate Governance Professor Mervyn King.

The organisation hopes to appoint a new board and make amendments to its constitution by November 30. — Fin24

Subscribe to the M&G

These are unprecedented times, and the role of media to tell and record the story of South Africa as it develops is more important than ever.

The Mail & Guardian is a proud news publisher with roots stretching back 35 years, and we’ve survived right from day one thanks to the support of readers who value fiercely independent journalism that is beholden to no-one. To help us continue for another 35 future years with the same proud values, please consider taking out a subscription.

Tehillah Niselow
Tehillah Nieselow
Tehillah Nieselow is a Journalist at Power FM. She Covers labour issues, strikes, protests and general stories

Related stories

Students ‘dreams are crumbling’

Those at historically disadvantaged universities feel abandoned while their peers at richer institutions continue with their studies

Eusebius McKaiser: Let’s slay some academic freedom myths

Bigoted academics and shoddy or racist work are not above criticism — nor should they be

Party political meddling threatens future of universities

Campuses elsewhere in Africa have seen the damage done by student activism influenced by political parties, a matter that has raised concern at South Africa’s higher education institutions

Covid-19 lockdown pushes Wits University to offer online learning

The university plans to teach online as South Africa’s lockdown continues, and is offering zero-rated data for its teaching sites, as well as computing devices for students

What universities are doing in the fight against Covid-19

While teaching students during lockdown, institutions of higher learning are also using their expertise to make masks, develop vaccines and research labour abuses

Easter eggs from the most South African dinosaur

After years of data processing at the Wits laboratory, one evolutionary scientist has constructed a 3D model of a baby Massospondylus
Advertising

Ingonyama Trust Board moves to retrench staff

More than 50 workers at the Ingonyama Trust Board have been issued section 189 notices

No proof of Covid-19 reinfection, yet

Some people report testing positive for Covid-19 after initially having the disease and then testing negative. Scientists are still trying to understand if this means that reinfection is possible
Advertising

press releases

Loading latest Press Releases…

The best local and international journalism

handpicked and in your inbox every weekday