South African Institute of Chartered Accountants investigates ‘clueless or dishonest’ Kwinana

2022/01/06 15:26:00

Yakhe Kwinana, the former chairperson of SAA Technical, has been asked to make representations to Saica, but has not responded

South African Institute of Chartered Accountants investigates ‘clueless or dishonest’ Kwinana: Yahke Kwinana, the former chairperson of SAA Technical, has been asked to make representations to Saica, but has not responded

Yakhe Kwinana, the former chairperson of SAA Technical, has been asked to make representations to Saica, but has not responded

Zanospark — Kwinana’s company.Subscribe South African Breweries (SAB) says it is considering the introduction of a mandatory Covid-19 vaccination policy for staff across its operations.Malan -- a former middle order batsman and medium fast bowler -- will take up the post in March on a three-year contract subject to him receiving a work visa.04 January 2022 - 18:58 By Reuters SAB says it will begin a consultative process this month and make a final decision on mandatory vaccines in due course.

Ndzeku claimed he did not know the money was going to Kwinana.Records obtained by the commission show that between July and September 2016, Zanospark received repeated payments from JM Aviation directly or from Ndzeku’s wife.The brewer, which employs approximately 9,400 people, said in a statement on Tuesday (4 January), that it will begin a consultation process in January, with a final decision on mandatory vaccines to be made in ‘due course’.During that period nothing else of any note was happening in the Zanospark bank account, evidence leader advocate Kate Hofmeyr told the commission in August 2020."It's very humbling and a huge honour to be appointed head coach of the Ireland men's team," Malan said in a Cricket Ireland statement posted on their website.According to the report, Zanospark was only created in February 2016 and had an opening balance of R502.SAB has been forced to stop selling alcohol four times since the outbreak of the Covid-19 pandemic in March 2020, and has faced numerous sales restrictions as the government introduced numerous regulations to ease the strain on the country’s hospitals.Once Kwinana had left SAA, further amounts were paid to her directly from JM Aviation.President Cyril Ramaphosa also said in November the government was considering making Covid-19 shots compulsory for citizens to access certain places and activities.

The report states that Kwinana failed to give any plausible explanation for why, as the chairperson of SAAT and a board member of SAA, it was lawful and appropriate for her to have received payments from an entity that was a supplier to SAAT.“As a result of the previous waves of infections, our industry has been severely impacted by lockdown regulations and alcohol bans, and we believe that vaccination is key to protecting the one million lives and livelihoods supported by the alcohol industry." Richard Holdsworth, High Performance Director for Cricket Ireland, said Malan's eagerness in developing young talent was a particular plus in his case.“The payments were, therefore, probably corrupt payments because they were made in exchange for decisions, in which Ms Kwinana was involved, that benefitted the entity that made the payments.” According to the Zondo report, it was clear from Kwinana’s evidence that she engaged in extensive forex trading on online platforms.Businesses taking the lead While the government has remained quiet on introducing vaccination mandates, several businesses in the country have already introduced mandatory vaccination policies – most recently.The commission notes that, if Kwinana was legitimately trading on behalf of third parties as her clients, then she would be required to have a licence as a financial services provider."He is an advocate for sports science, and an intense interest in developing players -– particularly in preparing them for the international stage.But during her evidence at the commission, Kwinana persistently denied that she needed a licence to do forex trading.SAB has been forced to stop selling alcohol more than four times since the pandemic started as part of efforts to free up space in hospitals burdened with alcohol-related injuries for Covid-19 patients.

“The fact that Ms Kwinana, a chartered accountant who operated an accounting firm for many years, would not get a licence from the FSCA [Financial Sector Conduct Authority], if she were legitimately investing on behalf of third parties, seems highly unlikely,” the report reads.“The absence of a licence therefore tends to indicate that Ms Kwinana was not conducting forex trading activities for others, but for herself.The manner in which Ms Kwinana dealt with the funds in her account and the Zanospark account also indicates that she treated the money as her own and not as the investment monies of clients.” Kwinana, the commission added, also displayed a fundamental lack of appreciation of conflict of interest policies and processes.“Instead of knowing and applying these policies and processes, she testified that she preferred her own subjective opinion of her own independence.

Independence and avoiding conflicts of interest is one of the cornerstones of corporate governance and public accountability,” the report reads.“It is, therefore, of great concern that a professional chartered accountant would not accept this principle and instead conduct herself while on the boards of SAA and SAAT without proper knowledge of, or adherence to, its requirements.” Saica’s chief executive, Freeman Nomvalo, said the chartered accountancy profession “is undergoing a period of profound reflection encompassing debates on how to maintain professional independence as evidenced by Saica’s recent revisions to the institute’s by-laws which include enhancements to the disciplinary process”.“What we can all agree on is that adherence to the highest standards of ethical conduct, professional integrity and avoidance of conflict of interest must remain the bedrock of the accountancy profession,” he said.“Saica expects all its members to uphold these values in all professional circumstances.

All members who are found to have contravened Saica’s code of professional conduct … will be held accountable without fear or favour including all members mentioned in the comprehensive Zondo commission report when all three parts have been released.” Keep the powerful accountable.

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Clueless AND dishonest - not or She can't act without instructions. Loothuli house has relocated to Nkandla and signals to puppets are not strong anymore Imagine the challenges she overcame to get the qualification...only to trash her opportunities. Not sure what a CA should look like, but she doesn't look like one.

They can revoke her certification but they can never taka her qualifications and intelligence She sounds dumb whilst being questioned. It's a mystery how she is an 'accountant ' Doesn't owe them anything. They love getting cloud on black people and living white people free of harassment. Pathetic. Vetkoeks Mama. 😉🤣😂

Fat cakes - asset or liability? Fake degrees ...some canr read a script put under there nose .. Simple english ..but they have jobs ...and the graduates are sitting with no jobs .. How on earth did this woman pass matric, let alone become a CA 🤔 Me thinks something is very wrong here, probably another Unisa “graduate”.

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South Africa have noticed the dismantle political Government behavior in employment since 94 that's why our graduate have been sitting at home jobless because certain people needed to be taken care off, corruption looting and stealing needs to Stop ✋ She's still looking at the terms and conditions 😂😂😂

Bring Law & Order back to South Africa VoetsekANC RemoveANC2024 Lomama was lying on TV... denying everything and later agree... kodwa uthi soze siyidle lenkululeko eyaChithelwa iGazi? Black professionals are attacked daily in SA. She can't be a chartered accountant and so stupid at the same time Vetkoeks

Has Dudu Myeni commented on recommendations of Zondo Commission that she be prosecuted? StateCaptureInquiry Do all these bodies have any muscle Nje.... Miss Fatcakes!

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She probably cannot write SAICA must deal with that clown.She brought the profession into disrepute 😰Laughingstock 😂😂 She's started lecturing on 'depreciation '...🤦‍♂️

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