CAPE TOWN - The Ntsebeza Inquiry which is investigating allegations that some of the South African Institute of Chartered Accountants' (SAICA) members were implicated in the KMPG saga, will move its investigations to the next phase from February 19, 2018.
SAICA established this independent investigation in November 2017, with the aim to uncover whether its members employed by KPMG allegedly engaged in conduct in contravention of the institute's code of professional conduct.
According to the institute, the Inquiry was established to convene in four key phases. The first phase constituted of a call for written submissions, and was scheduled to run between 2 to 30 November 2017. However, due to numerous requests for extensions, including from KPMG, the panel exercised its prerogative to allow these extensions as they were deemed both necessary and feasible.
The chair of the Inquiry, Advocate Dumisa Ntsebeza said, "We felt that it would be beneficial to the investigation to have all the facts that we could gather, rather than creating an insurmountable barrier as a result of a timeline set based on an estimation".
Other members of the panel include Advocate Vuyani Ngalwana, who is the chair of the General Council of the Bar; Dr. Claudelle von Eck, the CEO of the Institute of Internal Auditors SA (IIA SA); the former accountant-general, Freeman Nomvalo, as well as the former chair of the JSE, Malcolm Robert Johnston.
Ntsebeza also said now that the panel has combed through the lengthy and detailed submissions, and it is ready to start the hearings.
"We believe that 19th February 2018 is a fair start date as it will give those who we will call in to state their case, as well as the evidence leader, enough time to prepare".
SAICA said the inquiry will first give those who lodged complaints with the panel an opportunity to state their case. Thereafter the implicated SAICA members will be given an opportunity to respond.
"We naturally hope that we will be able to confine the hearings within our timeline, but have to give individuals the opportunity to cross examine where appropriate," Ntesebenza concluded.
- BUSINESS REPORT ONLINE