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22 Nov
2013

Auditor General, Terence Nombembe, appointed new CEO of SAICA


Johannesburg, Friday 22 November 2013

The South African Institute of Chartered Accountants (SAICA) today announced that the contract of the current Chief Executive Officer, Matsobane Matlwa, will come to an end on 31 January 2014, when Mr Matlwa will leave SAICA to pursue personal business interests.

Suresh Kana, SAICA’s Chairman, expressed his and SAICA’s gratitude to Mr Matlwa for his contribution to the Institute over the past five years.

“Matsobane has played a significant role in managing SAICA’s operations as well as building its reputation among international member bodies. A notable success was the key role he played in the formation of the Pan African Federation of Accountants (PAFA). We wish Matsobane all the best in his future career.”

Mr Matlwa will be succeeded by Mr Terence Mncedisi Nombembe, the outgoing Auditor-General of South Africa. Mr Nombembe qualified as a Chartered Accountant [CA(SA)] in 1990.  Before becoming the current Auditor-General, a post he has held for the last seven years, his experience included partnership in public practice, a stint in internal audit and finance in the energy sector, as well as working as an accountant in the retail industry.

Mr Nombembe’s most notable recent achievements as the Auditor-General include:

  1. The way his office has communicated audit outcomes of government entities in a factual, independent and a balanced manner; an interface that required an absolute commitment to integrity.
  2. His approach to creating dialogue on governance in government, as illustrated by his approach of personally visiting all 283 of South Africa’s municipalities.
  3. His appointment as Chairman of the International Organisation of Supreme Audit Institutions (INTOSAI).
  4. The increased number of CAs(SA) currently employed by the office of the Auditor-General to improve the organisation’s skills capacity.
  5. The continued enhancement of the public / private partnership between the office of the Auditor-General and the firms in public practice for the purpose of auditing government entities.

Welcoming SAICA’s new Chief Executive Officer elect, Kana said: “SAICA’s key focus is to serve the interests of its members, grow and transform the CA(SA) profession and maintain the excellence of the CA(SA) designation as a premier business brand.

“The SAICA Board and I are confident that Terence has the appropriate balance of skills, stakeholder engagement mindset, 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.”

Transformation of the accounting profession is a strategic focus area for SAICA. Sizwe Nxasana, the Chief Executive Officer of FirstRand Limited and Chairman of the Thuthuka Bursary Fund, which spearheads SAICA’s transformation initiatives, welcomed the appointment of Mr Nombembe saying:

“Terence Nombembe has an excellent track record that will enhance the role of the chartered accountancy profession and SAICA in the South African economy.”

Tim Hayden a director at HDI Group and Chairman of the SAICA National Small and Medium Practices Committee also welcomed the appointment of Terence Nombembe stating that: “Terence has a proud history of fearlessly reporting on government deficiencies.  We are confident that he will play a leading role in assisting the small and medium practices constituency of SAICA who are on the forefront in dealing with these challenges.”

Mr Nombembe will join SAICA on 15 January 2014.

MEDIA CONTACTS:

Bontle TsikweCommunications Coordinator: Corporate

SAICA Communications & Marketing Division

Tel: 011 621 6712

Email: bontlet@saica.co.za

 

Nkolola HalwindiProject Director: Communication

SAICA Communications & Marketing Division

Tel: 011 621 6713

Email: NkololaH@saica.co.za

 

ABOUT SAICA:

The South African Institute of Chartered Accountants (SAICA), South Africa’s pre-eminent accountancy body, is widely recognised as one of the world’s leading accounting institutes. The Institute provides a wide range of support services to more than 35 000 members who are Chartered Accountants and hold positions as CEOs, MDs, board directors, business owners, chief financial officers, auditors and leaders in their spheres of business operation. Most of these members operate in commerce and industry, and play a significant role in the nation’s highly dynamic business sector and economic development.

SAICA serves the interests not only of the Chartered Accountancy profession, but also of society in general through its key objective of upholding professional standards and integrity. The pre-eminence of South African Chartered Accountants [CAs(SA)] nationally and internationally attests to the successes achieved by SAICA on a broad global canvas. SAICA’s members enjoy the privilege of using the highly regarded and prestigious CA(SA) designation. Members of SAICA are subjected to a Code of Professional Conduct, which provides guidelines for ethical and professional behaviour. Fundamental ethical principles to which CAs(SA) are expected to achieve include:

  • Integrity;
  • Objectivity;
  • Professional Competence and Due Care;
  • Confidentiality; and
  • Professional Behaviour.

SAICA members serve on international accounting bodies including; the International Financial Reporting Standards (IFRS) Foundation, the International Accounting Standards Board (IASB), the IFRS Interpretations Committee, the IFRS Advisory Council and the Council of the International Federation of Accountants (IFAC). SAICA is also a member of The Global Accounting Alliance (GAA).

For more information visit www.saica.co.za

 

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