THE IM­PLI­CATED PAR­TIES RE­PLY

CityPress - - News -

The law so­ci­ety’s se­nior dis­ci­plinary sec­re­tary Marisca Ja­cobs said the fees as­sess­ment process be­gan on Thurs­day. De­pend­ing on the out­come “a dis­ci­plinary in­quiry may be held and an in­spec­tion of the ac­count­ing records may have to be con­ducted”.

Zwane said his firm car­ried out all the fund’s in­struc­tions, in ac­cor­dance with the res­o­lu­tions of its board of trustees.

While the firm was wait­ing to hear from the law so­ci­ety, Zwane said the pen­sion fund’s com­plaint was “with­out merit”.

Isago’s ex­ec­u­tive di­rec­tor Martin Khu­nou said the fund ap­proached them with an in­ter­est to pur­chase pieces of land in their de­vel­op­ment. “The trans­ac­tion was ex­e­cuted legally through agreed and duly signed con­tracts.” He said he ex­pected the law so­ci­ety to give his com­pany an op­por­tu­nity to re­spond.

Masala Ram­ab­u­lana, former owner of the nowde­funct Ram­ab­u­lana Man­age­ment Ser­vices, said his firm was not ac­count­able to the law so­ci­ety and faced no com­plaint against it. He said they pro­vided ser­vices to MSMM in the past and were un­der obli­ga­tion not to dis­close any con­fi­den­tial in­for­ma­tion. This was ac­cord­ing to the SA In­sti­tute of Char­tered Ac­coun­tants’ code of con­duct and the en­gage­ment let­ter they signed with all clients, he said.

Ntumba said his ac­count­ing firm pro­vided var­i­ous ser­vices to Isago, but never is­sued in­voices to ei­ther the law firm or the pen­sion fund.

He said they were un­aware of any other pay­ments from the fund re­lat­ing to other ser­vices ren­dered at Isago.

“Ntumba un­der­stands that Isago pays all its cred­i­tors and sup­pli­ers from its pool of funds; and that it may make use of any at­tor­ney to trans­fer such funds.”

Of THL In­vest­ments, he said that com­pany did not ren­der any ser­vices to ei­ther the law firm or the pen­sion fund. “Any ques­tions which re­late to this en­tity are ir­rel­e­vant to the above-men­tioned com­plaint.”

Of TLSZ he said the com­pany “ren­dered ser­vices” to the law firm, and kept all its busi­ness mat­ters and in­for­ma­tion con­fi­den­tial, in line with agree­ments it signed with all its clients.

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