Former SAA board member barred from practising as a CA and fined R6.1m
The Zondo report said Saica should investigate whether Yakhe Kwinana was suitable to work as a chartered accountant.
state capture
Legal precedent set as Odendaal’s assets forfeited in Steinhoff fraud battle
The SARB has forfeited to the state cash totalling R42m from Berdine Odendaal’s bank accounts, as well as her R18m property in Paarl’s Val de Vie estate.
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Prosecutions and jail time ‘is the test SA must pass to get off the grey list’
Intellidex cautions against putting false confidence in exact numbers of the economic impact of grey-listing.
Treasury responds to FATF action plan for SA to fix its ‘dirty money’ problems
Treasury expects grey-listing will have ‘a limited impact’ on financial stability and the costs of doing business with South Africa.
EXPLAINER: How did South Africa end up on the grey list?
What you should know about the Financial Action Task Force, its evaluation of South Africa, and how grey-listing works.
Grey-listing: what are the implications for the financial sector and the greater economy?
It will become increasingly difficult to invest offshore, even for the wealthiest investors, says Anchor Capital.
Averting grey-listing depends on progress with enforcement
National Treasury has reiterated its message that changing legislation will not be enough to avert a potential grey-listing next year; the authorities will have to demonstrate commitment and progress with enforcing legislation aimed […]
Treasury publishes omnibus anti-money laundering bill
The process to address deficiencies in the country’s anti-money laundering and anti-terrorism financing legislation got under way this week after Minister of Finance Enoch Godongwana tabled the General Laws (Anti-Money Laundering and Combating […]
Court victory for Sars whistleblower
Two former executives of the South African Revenue Service (Sars), who were dismissed “for operational requirements” during the controversial Bain restructuring of the tax authority, have been reinstated to their previous positions. Johannesburg […]
Momoniat: We don’t know who dropped the ball with state capture transactions
National Treasury’s acting director-general, Ismail Momoniat, says mechanisms need to be put in place to ensure that the regulators are doing their job in respect of suspicious financial transactions, noting that Treasury does […]
IRBA dismissed complaint against SAA’s Kwinana in 2018
The Independent Regulatory Board for Auditors (IRBA) has confirmed that it dismissed a non-audit complaint against former SAA board member Yakhe Kwinana in 2018, “because a lack of evidence at the time of […]
Collateral damage during state capture should also be explored
Does repaying fees collected under dubious circumstances absolve companies from resultant damage? My article titled A wolf in sheep’s clothing, published last week, concerned the possible danger of involving firms identified in the […]
A wolf in sheep’s clothing?
The release of the first of three publications on the findings of the Zondo commission has certainly put the cat among the pigeons. The last two reports, due for release at the end […]
Accountancy body ‘will investigate all members named in Zondo report’
The South African Institute of Chartered Accountants (Saica) says it will investigate all members of the organisation mentioned in the Zondo Commission’s report into state capture. In a media statement on 5 January, […]
Nedbank denies any wrongdoing in Acsa transactions
Nedbank says it committed no wrong in relation to the interest rate swap transactions it concluded with Airports Company SA (Acsa) between 2009 and 2011. The bank was responding to Acting Chief Justice […]
How Zuma and Moyane exerted a ‘Bainful’ influence on Sars
Global management consultancy Bain & Company says it is “deeply sorry” for its role in the damage inflicted on the SA Revenue Service (Sars) during the tenure of Commissioner Tom Moyane. However, Bain […]
New year starts with two bangs and a whimper
My initial brief was to write an article on the FAIS Ombud’s annual report, but I thought it better not to start the new year on such a sombre note. Equally depressing was […]
