Terence Nombembe lands on his feet

2013-11-24 14:00

Outgoing Auditor-General (AG) Terence Nombembe has found a new gig as the CEO at the SA Institute of Chartered Accountants (Saica).

Nomembe’s contract as AG ends at the end of this month.

Before becoming AG, a post he has held for the last seven years, his experience included partnership in public practice, a stint in internal auditing and financing in the energy sector, as well as working as an accountant in the retail industry.

His office has been lauded for being tough on municipalities, particularly on the use of consultants and poor financial controls.

Nombembe replaces current Saica CEO Matsobane Matlwa, who will be stepping down at the end of January to pursue personal business interests.

Saica chairman Suresh Kana welcomed the appointment. “Terence has the appropriate balance of skills, a stakeholder engagement mind-set, experience, and qualities to deliver on the Saica strategy.

“I believe that Terence will make a meaningful contribution to the continued high level of governance and financial reporting in South Africa,” he said.

Nombembe joins Saica at a time when the transformation of the accounting profession is a strategic focus area for the institute. Saica statistics state that out of the 33?000 chartered accountants in the country, black Africans make up just 7%, while coloureds account for 3%.

Join the conversation!

24.com encourages commentary submitted via MyNews24. Contributions of 200 words or more will be considered for publication.

We reserve editorial discretion to decide what will be published.
Read our comments policy for guidelines on contributions.

24.com publishes all comments posted on articles provided that they adhere to our Comments Policy. Should you wish to report a comment for editorial review, please do so by clicking the 'Report Comment' button to the right of each comment.

Comment on this story
Comments have been closed for this article.

Inside News24

Traffic Alerts
There are new stories on the homepage. Click here to see them.


Create Profile

Creating your profile will enable you to submit photos and stories to get published on News24.

Please provide a username for your profile page:

This username must be unique, cannot be edited and will be used in the URL to your profile page across the entire 24.com network.


Location Settings

News24 allows you to edit the display of certain components based on a location. If you wish to personalise the page based on your preferences, please select a location for each component and click "Submit" in order for the changes to take affect.

Facebook Sign-In

Hi News addict,

Join the News24 Community to be involved in breaking the news.

Log in with Facebook to comment and personalise news, weather and listings.