SOUTH AFRICA: Student funding chief sacked

17 April 2011

The CEO of South Africa's National Student Financial Aid Scheme, suspended after the scheme was given an audit report with a disclaimer, has been fired, writes Caiphus Kgosana for The Sunday Times.

A disclaimer is given when the auditor cannot form, and consequently refuses to present, an opinion on the financial statements. The fund's board recently met to decide CEO Ashley Seymour's fate. He was placed on suspension last month for allegedly failing to follow instructions that would have saved the scheme from an audit disclaimer.

Seymour, who served as CEO for just over a year, has instructed his attorneys to file an unfair dismissal claim in the Labour Court. Vernon Seymour, who represents the suspended CEO, said his client was adamant that he had done nothing wrong and wanted to complete his five-year contract.
Full report on The Times site

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