SAICA suspends Markus Jooste amid disciplinary proceedings

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Former Steinhoff CEO Markus Jooste gets ready to testify before Parliament on Sept. 5, 2018 (Supplied)
Former Steinhoff CEO Markus Jooste gets ready to testify before Parliament on Sept. 5, 2018 (Supplied)

The South African Institute of Chartered Accountants announced on Thursday in a statement that it has suspended former Steinhoff International CEO Markus Jooste, pending the finalisation of disciplinary proceedings against him.

SAICA said that lawyers for Jooste gave the accountancy body his resignation letter last week.

But the group resolved not to accept Jooste’s resignation and to suspend his membership instead, pending the finalisation of disciplinary proceedings against him.

"The board's decision not to accept Jooste’s resignation ... was made in terms of SAICA's by-laws and was conveyed as such to Jooste’s lawyers," the statement read.

SAICA noted that its by-laws were designed to ensure that disciplinary inquiries are conducted in an independent, lawful and fair manner.

"Moreover, SAICA has pointed out to Jooste's lawyers that their client cannot avoid the disciplinary inquiry that SAICA has decided to initiate against Jooste by handing in his resignation."

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