Former Eskom CFO Anoj Singh to face disciplinary action
The South African Institute of Chartered Accountants (SAICA) has announced that it will institute disciplinary proceedings against former Eskom CFO Anoj Singh.
SAICA says it decided to bring charges of misconduct against Singh following an investigation into his conduct.
“Singh conducted himself in a manner that is discreditable, dishonourable, dishonest, irregular or unworthy, or which is derogatory to the Institute, or tends to bring the profession of accountancy into disrepute and further failed to maintain and adhere to the fundamental principles in the SAICA Professional Code of Conduct for Chartered Accountants,” the professional body says.
SAICA also alleges that Singh failed to disclose to the Eskom board the true reason for a request by the Gupta-owned Tegeta mine for a R600 million prepayment from the power utility.
"Singh was knowingly associated with reports, returns, communications or other information where he knew or believed, that the information contained a materially false or misleading statements or information furnished recklessly, or omitted or obscured information required to be included where such omission or obscurity would be misleading.
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"After Singh became aware that he was associated with such information, he failed to take steps to be disassociated from that information.”
Singh has been given 21 days to respond to the charges.
"Once his response to the charges is received, the SAICA secretariat will review the response and table the matter for adjudication before the Professional Conduct Committee.
"Details of the subsequent disciplinary hearing will be provided to all stakeholders once such details have been confirmed with the relevant Professional Conduct Committee chairperson and panel.
"All disciplinary hearings of the Professional Conduct Committee are not open to the public," SAICA says.
