The South African Institute of Chartered Accountants (SAICA) has suspended Markus Jooste’s membership pending the finalisation of disciplinary proceedings against him.
Jooste, former CEO of Steinhoff International, had 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 inquiry against their client has been predetermined by SAICA, following media reports in which SAICA CEO, Freeman Nomvalo, confirmed that SAICA will be proceeding with a disciplinary inquiry 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. SAICA pointed out to Jooste’s lawyers that their client cannot avoid the disciplinary inquiry that SAICA has decided to initiate against Jooste by handing in his resignation.
