A tactic often used by bad actors who get caught out, is to resign before their malfeasance gets recorded in a formal disciplinary inquiry. But former Steinhoff CEO Markus Jooste today discovered this approach doesn’t always work. In a letter to its 45,000 members, the SA Institute of Chartered Accountants said Jooste’s disciplinary will go ahead anyway – despite the body’s most infamous member having tendered his resignation as a CA (SA) a month ago. He has been suspended – and the disciplinary will go ahead, with or without his input. – Alec Hogg
From Jaco Snyman, Exec Dir: Legal and Governance, SAICA:
Mr. Markus Jooste tendered his resignation from SAICA in a letter received from his lawyers on 14 June 2019. Citing the reasons for his resignation, Jooste’s lawyers allege that the outcome of the proposed disciplinary enquiry against their client has been predetermined by SAICA, following media reports in which SAICA CEO, Mr. Freeman Nomvalo, confirmed that SAICA will be proceeding with a disciplinary enquiry against Jooste.
SAICA’s Board considered Jooste’s resignation at its meeting on 26 June 2019. The Board resolved not to accept Jooste’s resignation and to suspend his membership pending the finalisation of disciplinary proceedings against him. The Board’s decision not to accept the resignation of Jooste and to suspend his membership pending the finalisation of disciplinary proceedings against him, was made in terms of SAICA’s by-laws and was conveyed as such to Jooste’s lawyers.
SAICA’s by-laws are designed to ensure that its disciplinary enquiries are conducted in an independent, lawful and fair manner. Moreover, SAICA has pointed out to Jooste’s lawyers that their client cannot avoid the disciplinary enquiry that SAICA has decided to initiate against Jooste by handing in his resignation.
