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SAICA NEWS
DISCIPLINARY NOTICE

• The pertinent facts of the case against the member related to the misrepresentation of the state of current employment, as well as discrepancies in payslips when applying for employment. The Committee imposed a R10 000 fine on the member, R5 000 of which was suspended for a period of 3 years on certain conditions.
  

• A member had been accused of not attending to the tax affairs of a client in a professional manner. The Committee discharged the matter, there being no reasonable prospect of proving the member's alleged improper conduct.
  

• A member had been charged with “insider trading” and had entered into a settlement agreement with the Financial Services Board. The Committee imposed a R50 000 fine on the member concerned.
  

• The allegations against a member related to failing to account adequately, or at all, in the manner required of him to a beneficiary of a trust. The Committee discharged the matter, as the member had provided a reasonable explanation.
  

• An Associate General Accountant (South Africa) had been charged with unprofessional conduct relating to the preparation of annual financial statements, the preparation and submission of tax returns, and compliance with various Acts and Regulations, including the Unemployment Insurance Act and Workmen's Compensation Act. The Committee referred the matter to the Disciplinary Committee for a full hearing.
  

• Following a referral by the GAAP Monitoring Panel, a member had been charged with numerous contraventions of Statements of Generally Accepted
  

• Accounting Practice and the Fourth Schedule to the Companies Act. The Committee imposed a fine of R50 000.

At its meeting on 18 July 2007, the Professional Conduct Committee (TRECO) considered the following matters:

• A complaint was lodged against a trainee regarding the trainee's work performance and failure to attend a disciplinary hearing. The Committee interrogated the trainee at length, and several mitigating factors having been uncovered, discharged the matter, a reasonable explanation having been given by the trainee.
  

• The pertinent facts regarding the case related to a trainee having resigned from the firm citing a personal reason for the resignation as a wish to relocate. The Committee discharged the matter, a reasonable explanation having been given by the trainee. However, as the contract had been cancelled, a 6 month penalty would have to be served. The trainee could also not claim Recognition of Prior Learning remission of 18 months, as the time to do so had expired.
  

• A trainee had been dismissed following a disciplinary hearing where the trainee had been charged with billing a client for work not done, sending a personal fax and booking the cost to a client, and giving the client copies of documentation and not charging the client. The Committee found the trainee guilty and, in addition to the automatic 6 month penalty for the cancellation of the training contract, a period of 12 months would not be considered as remission for Recognition of Prior Learning. In addition, before the training contract was finally discharged, the trainee would be subjected to an ethics assessment by the new Training Officer.
  

• A trainee had cited personal reasons for resigning and as no option to suspend the contract was available, the trainee resigned and the training contract was cancelled. Taking into consideration other issues that were brought to the attention of the Committee, it was agreed that the trainee was guilty of unprofessional conduct and that, in addition to the automatic 6 month penalty for cancellation of the training contract, no remission for Recognition of Prior Learning (a period of 12 months) would be granted.
  

• A trainee had been dismissed following a disciplinary hearing where the trainee had been charged with, and found guilty of, misrepresenting to the firm the number of hours the trainee had worked on a client and misrepresenting travel claims. The Committee agreed that the trainee was guilty of improper conduct and permission to register a new training contact was refused for a period of 3 years, at which time the trainee would have to demonstrate to the Committee an understanding and application of the ethical values of the Chartered Accountancy profession before being allowed to enter into a new contract. 

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