JOHANNESBURG – The Independent Regulatory Board for Auditors (IRBA) has reached the conclusion of its disciplinary process into the improper conduct of the auditor responsible for the Linkway Trading (Pty) audit.
"Linkway was mentioned in the Gupta-leaks in June 2017 as the conduit which paid for the Gupta wedding at Sun City. This is the first investigation to reach sanction stage out of a myriad of Gupta-linked inquiries and investigations by various bodies," the IRBA said in a statement.
“We are satisfied with the committee’s finding of guilt on the charges. The committee now has 30 days to deliberate and finalise the appropriate sanction,” IRBA chief executive Bernard Agulhas said in the statement.
The disciplinary committee had previously found the auditor guilty on all six charges after the hearing process ended last year. During the past two days, the disciplinary committee heard arguments in mitigation and aggravation relating to proposed sanctions against the auditor.
The investigation was initiated on June 30, 2017, and the first sitting of the disciplinary committee on the matter was held on July 4, 2018. The final disciplinary committee sitting and concluding of evidence was on August 5, 2018, and the sanctions hearing was held on February 14 and 15, 2019, the IRBA said.