S. Africa’s Mboweni May Seek Review of Auditing Regulator Choice
S. Africa’s Mboweni May Seek Review of Auditing Regulator Choice
South African Finance Minister Tito Mboweni will hold talks with the board of the nation’s auditing regulator regarding concerns raised about the appointment of Jenitha John as its new chief executive officer.
The Democratic Alliance, the main opposition party, and lobby group Organization for Undoing Tax Abuse have questioned John’s appointment and whether her role as an executive at Tongaat Hulett Ltd. was adequately taken into account. The sugar maker is recovering from an accounting scandal in which at least 10 of its senior executives were implicated, according to a report by PwC.
Mboweni will request a review of the appointment if any impropriety is found following talks with directors of the Independent Regulatory Board for Auditors, the National Treasury said in a statement on Friday.
John, a former FirstRand Ltd. executive, resigned a year ago from Tongaat Hulett’s board, on which she led its audit and compliance committee. John wasn’t accused of wrongdoing.
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