2 minute read
25 Jan 2019
2:42 pm

Accountants implicated in Agrizzi testimony to be investigated


The South African Institute of Professional Accountants vowed to deal with violators of their code of conduct.

Former Bosasa COO Angelo Agrizzi ahead of the start of proceedings at the Commission of Inquiry into State Capture held in Parktown, Johannesburg, 21 January 2019. Picture: Refilwe Modise

The South African Institute of Professional Accountants (Saipa) on Friday acknowledged that two of the accountants implicated by former Bosasa chief operations officer Angelo Agrizzi are its members and said those found to have violated the professional code of conduct and the International Federation of Accountants (IFAC) code of ethics would be dealt with accordingly.

In the affidavit filed by Agrizzi as part of his evidence at the Zondo commission of inquiry into state capture, a number of senior government officials have been implicated for wrongdoing, including chief executive of Amscor Kevin Wakeford, who is a chartered accountant.

Saipa said in light of the allegations made against the two Saipa members, the institute would initiate preliminary investigations as the accused members would be given an opportunity to provide their version of events per affidavit.

If the members are found guilty of unprofessional conduct, misconduct, bringing the organisation into disrepute, or failing to uphold the IESBA (International Ethics Standards Board for Accountants) code of ethics, Saipa said a harsher sanction would be imposed, and they stood the risk of losing their membership to the institute.

Shahied Daniels, Saipa’s newly-appointed chief executive, said as an IFAC member body committed to protecting the public interest, they took their role as a professional accountancy organisation very seriously and would act promptly against any member who had not upheld their code of conduct.

“Saipa shall ensure to restore trust in the profession and that our members – irrespective of the roles they happen to occupy – always operate in the public interest and trust,” said Daniels.

“For this reason, we will act decisively against any member who violates our code of conduct as it impacts on our reputation and standing in the accountancy profession and society at large.”

Agrizzi will continue giving testimony at the Zondo commission on Monday.

– African News Agency (ANA)

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