Dismissed CEO vows to take on accountants body

Dismissed SA Institute of Professional Accountants (Saipa) CEO Shahied Daniels, has claimed that the Saipa board contravened the body's constitution and breached governance - vowing to challenge his removal.

- Brian Sokutu

Regarded as one of the foremost accounting institutes in South Africa, serving thousands of members, the Saipa website describes the organisation as "actively advocating and promoting ethical and responsible behaviour within the profession, in order to retain public trust and confidence".

But Daniels has levelled serious allegations against the Saipa board.

In an open letter entitled Truth vs False and Misleading Narratives, Daniels said his legal team "has been fully apprised of the situation and is reviewing the entire matter".

"Both the disciplinary process and the dismissal itself, will be challenged," he said.

Allegations raised by Daniels include: The board issuing a questionable Call for Nominations in May, for the position of independent board member and chairperson of the audit committee - a highly irregular action, because no such vacancy existed.

Doris Dondur who was appointed chair of the audit committee, who made an alarming statement declaring that she intended "to frustrate management".