Accountant body charges Singh
21 DAYS: TIME FOR FORMER ESKOM CFO TO RESPOND Principles of professional behaviour were contravened.
The South African Institute of Chartered Accountants (Saica) has instituted charges of misconduct against former Eskom chief financial officer Anoj Singh.
The charges include that he conducted himself in a manner which is discreditable, dishonourable, dishonest, irregular or unworthy, or which is derogatory to the institute or brought the profession of accountancy into disrepute; and he failed to maintain and adhere to the fundamental principles set out in the Saica Professional Code of Conduct for Chartered Accountants.
It is alleged Singh failed to disclose to the Eskom Board the true reason for Tegeta’s request of aboutR600 million from Eskom. He should have known the information, reports and documentation he was relying on contained materially false or misleading statements; statements or information furnished recklessly; or omitted and/or obscured essential information. He further made no attempt to disassociate himself from that information.
His professional judgment was compromised by bias, conflict of interest or the undue influence of others.
Singh allegedly further disclosed confidential information acquired as a result of professional and business relationships without proper and specific authority to do so. He also used confidential information acquired as a result of professional and business relationships to his personal advantage or the advantage of third parties.
In addition, he failed to take reasonable steps to ensure that staff under his control, as well as persons from whom advice and assistance was obtained, respected his duty of confidentiality.
The institution further found that Singh failed to comply with the relevant laws and regulations and conducted himself in a manner that he should have known may discredit the accountancy profession.
Singh has 21 days to respond to Saica. The response will be placed for adjudication before the professional conduct committee. Details of the subsequent disciplinary hearing will be provided to all stakeholders, subject to confirmation with the committee.
Not all disciplinary hearings are open to the public and accused members appearing before the committee are not permitted legal representation.
The committee has the full power to caution, reprimand, impose a fine of not more than R250 000 per charge, suspend the accused from membership or refer a formal complaint against the accused to the disciplinary committee.