SAICA agrees to investigate VBS Bank CEO following DA complaint
25 July 2018
The DA welcomes the decision of South African Institute of Charted Accountants (SAICA) to investigate VBS Mutual Bank CEO, Mr Andile Ramavhunga, for failing in his fiduciary, ethical and professional duties.
This follows the DA’s complaint that Ramavhunga’s unethical conduct had brought the charted accountant profession into disrepute.
Therefore it is absolutely vital not only for this profession but also for general trust in the financial system of South Africa that there are no delays in the SAICA investigation into the alleged malfeasance of Mr Ramavhunga in his role as CEO of VBS Mutual Bank.
The VBS looting that took place on Mr Ramavhunga’s watch should not go unchallenged. His reasoning that he was not aware of the bank’s dodgy financial affairs is in itself an indictment and an admission of his delinquency.