This after the accounting watchdog found Singh guilty of “a number of breaches of the institute's bylaws and its code of conduct in relation to his conduct while he was employed as the group financial officer of Transnet and while he was employed as the CFO at Eskom”. Ultimately, he was found guilty on 12 of 28 charges.
Singh was also ordered to pay half of the costs of his disciplinary case, which concluded in July 2020, a year after Saica suspended him. In a statement, the institute's CEO Freeman Nomvalo said: “Saica takes all instances of members’ alleged contravention of the Saica code of professional conduct seriously and all of these matters are investigated, irrespective of the nature of the assignment or the individual member concerned. Saica's members who fail to uphold the highest ethical and professional standards compromise public and private sector institutions and the SA economy as a whole.
“This step [against Singh] confirms Saica's commitment to holding all its members accountable as well as an unwavering focus on serving the public interest which is the foundation of the chartered accountancy profession.”