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MONEYWEB app instead? Following an application for the recusal of two members of the disciplinary committee. 00:01  No end in sight for this particular part of the Sharemax controversy. Image: Moneyweb The Independent Regulatory Board for Auditors (Irba) disciplinary hearing against former auditors of the failed Sharemax property syndication scheme has been postponed sine die (indefinitely). This follows Advocate Mike Maritz, appearing for the three auditors, this week submitting an application for the recusal of two committee members of the disciplinary committee on the grounds of actu...

MONEYWEB Says it could be an exercise in futility to continue with the matter. 00:01  Mike Maritz has raised questions about the independence of the independent regulatory board’s disciplinary committee members. Image: Shutterstock The actual or perceived bias of two members of the Independent Regulatory Board for Auditors (Irba) disciplinary committee in the disciplinary hearing against three former auditors of Sharemax has made the case a nullity, argued advocate Mike Maritz. A nullity in law is defined as something which may be treated as if it did not exist or never happened. Ma...

Roy Cokayne A view of the interior of the half-built Villa Retail Park in Pretoria. Image: Moneyweb The independence of an expert witness has been brought into question at an Independent Regulatory Board for Auditors (Irba) disciplinary hearing against the former auditors of the failed Sharemax property syndication scheme. This follows Brian Smith, who has 45 years’ experience in the accounting field and is Irba’s expert witness in the case, confirming last week that he was a member...

MONEYWEB Despite being warned of the disastrous consequences for investors. 00:01  The abandoned Villa Retail Park development in Pretoria. Its prospectus was issued after the launch of a Sarb investigation into Sharemax in 2007. Image: Moneyweb The South African Reserve Bank (Sarb) issued directives against Sharemax in 2010 despite a warning by a senior advocate about the disastrous financial consequences “an over hasty approach” could have for investors because urgent high court winding-up applications were pending against the failed property syndication company. This was conf...