Accounting bodies try to regain public’s trust following recent scandals

The South African Institute of Professional Accountants (SAIPA) says regulatory bodies within the accounting profession are still trying to regain the public’s trust following scandals that have rocked the profession in recent years. Professor Rashied Small, Centre of Future Excellence Executive at the South African Institute of Professional Accountants (SAIPA), tells the Business Hour that Saipa is reviewing the ethical behavior of their members and seeking to find out if they are serving the public interest and not compromising their client’s interests for financial rewards. The accountancy profession has come under scrutiny in recent years following revelations that a revered auditing firm had been embroiled in matters relating to the Gupta family and the liquidated VBS Mutual Bank.