Two Deloitte partners face charges of misconduct relating to audited African Bank and African Bank Investments Limited financial statements they signed off on before the bank failed in August 2014.
. Danie Crowther: Financial services audit partner at Deloitte SA. He has been a Deloitte partner since March 1999.
. Mgcinisihlalo Jordan: A Deloitte partner since January 2007, Jordan is deputy CEO for Deloitte Africa. He is a former leader of the firm’s financial services practice in South Africa and the rest of Africa. Jordan holds a BCom honours from the University of Cape Town, a banking law diploma from the University of Johannesburg and is a chartered accountant.
DISCIPLINARY COMMITTEE CHAIR:
. Alan Dodson is an advocate with degrees in commerce and law. Judge of the Land Claims Court from 1995 to 2000, acting judge of the labour court in 2012, and acting high court judge in 2012, 2014 and 2015.
THE OTHER FIVE MEMBERS OF THE COMMITTEE:
. Akhter Moosa has been a chartered accountant since 1978. He was a partner at PwC from July 2003 to June 2013, when he retired. He is a member of the SAA board.
. René van Wyk is a chartered accountant and holds an MBA.
. Lucien Pierce is a director at Phukubje Pierce Masithela Attorneys and holds degrees in law and commerce.
. Horton Griffiths is a chartered accountant and former director of forensic accounting services, fraud investigations and litigation support at PwC. He worked at PwC from January 1973 to January 2012. Since then, he has worked as a consultant offering forensic services and accounting litigation support.
. Nico Rossouw is a partner in a firm of accountants and auditors, and is a qualified chartered accountant.
The 10 charges against the two Deloitte & Touche partners (contained in a 31-page charge sheet) for the auditing of African Bank and African Bank Investments Limited are:
Charges 1 to 9: Misconduct in terms of the Independent Regulatory Board for Auditors (Irba) rules regarding improper conduct, the Irba code of professional conduct and Irba auditing pronouncements; and breaching international auditing standards and the provisions of the Auditing Act.
Partner charged: Mgcinisihlalo Jordan
Charge 10 [not yet finalised]: Misconduct in terms of the Irba rules in that “they were dishonest in the performance of any work or duties devolving upon them in relation to professional services performed by them”.
“It is contended that the following conduct of [Jordan and Crowther] constituted dishonest conduct that was either intentional, alternatively reckless.”
Both are charged with misconduct in terms of Irba auditing pronouncements and breaching international auditing standards.
“They behaved in a manner which tends to bring the auditing profession into disrepute.”
Partners charged: Jordan and Crowther
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