-Majinda allegedly appointed without Board approval -Acting Board chairperson acted unilaterally -Matter to be escalated to finance minister
The Botswana Accountancy Oversight Authority (BAOA) is an authority at war after the former Chief Executive Officer Duncan Majinda was allegedly appointed consultant through dubious means.
BAOA’s mandate is to provide oversight and regulation by Developing and Enforcing Financial Reporting, Auditing and Corporate Governance Standards and Codes to protect Public Interest.
Information gathered by this publication suggests that Majinda, who has been at the helm of the Authority until recently, was appointed and confirmed by the Acting Board Chairperson of BAOA as a consultant without the knowledge or approval of the Board of Directors.
Majinda is expected to be an Advisor to the Acting CEO Ephifania Nkanga who is the former Technical Director. Sources at the Authority have revealed that the development has left many unhappy with the extent to which corporate governance continues to be flagrantly flouted.
According to sources, both the Acting CEO and the Consultant’s appointments were rushed by both Majinda and Acting Board Chairperson. It is alleged that Majinda has pushed for his appointment for the role which will be advisory so that he could continue to serve the interest of some of the Auditors who are controlling the market.
Majinda is said to have served well most of the big firms and they allegedly still want him to remain in the vicinity of the authority so that they are able to maintain control of the Accounting and Auditing Market. This publication has also established that what is much concerning is that even when the developments happened, the chairperson of the Human Resource Committee was also out of the country.
This is said to have not settled well with members of the Board and the Human Resource Committee. The disgruntled Board is said to be contemplating reporting the matter to the finance minister Peggy Serame. At the time when the Board members wanted to approach the minister she was out of the country on official duty in India.
Sources within the board of directors have revealed that the board is of the view that the entire process should be reversed and the indulgence of the minister sought to assist in the matter.
BAOA confirmed through its Public Relations Officer, Oupa Gaofise that Majinda was appointed by the Board through the Human Resources Committee as an Advisor to the Acting Chief Executive Officer for a period of one (1) year.
Gaofise told Botswana Guardian that the Ministry of Finance is being apprised of developments affecting the Authority as is the norm.
“The Authority deems matters relating to the engagement of Mr Majinda as purely administrative and therefore not for public discussion. The media house is entitled to its view on the allegations relating to the motive behind the retention of Mr Majinda,” Gaofise said in response to a questionnaire sent to him.
Gaofise also confirmed that Nkanga has been appointed the Acting Chief Executive Officer for the Authority. The recommendation for appointment was done by the Authority’s Human Resources Committee and subsequently approved by the Board, he said.
BAOA’s mandate is to provide oversight and regulation by Developing and Enforcing Financial Reporting, Auditing and Corporate Governance Standards and Codes to protect Public Interest.
Information gathered by this publication suggests that Majinda, who has been at the helm of the Authority until recently, was appointed and confirmed by the Acting Board Chairperson of BAOA as a consultant without the knowledge or approval of the Board of Directors.
Majinda is expected to be an Advisor to the Acting CEO Ephifania Nkanga who is the former Technical Director. Sources at the Authority have revealed that the development has left many unhappy with the extent to which corporate governance continues to be flagrantly flouted.
According to sources, both the Acting CEO and the Consultant’s appointments were rushed by both Majinda and Acting Board Chairperson. It is alleged that Majinda has pushed for his appointment for the role which will be advisory so that he could continue to serve the interest of some of the Auditors who are controlling the market.
Majinda is said to have served well most of the big firms and they allegedly still want him to remain in the vicinity of the authority so that they are able to maintain control of the Accounting and Auditing Market. This publication has also established that what is much concerning is that even when the developments happened, the chairperson of the Human Resource Committee was also out of the country.
This is said to have not settled well with members of the Board and the Human Resource Committee. The disgruntled Board is said to be contemplating reporting the matter to the finance minister Peggy Serame. At the time when the Board members wanted to approach the minister she was out of the country on official duty in India.
Sources within the board of directors have revealed that the board is of the view that the entire process should be reversed and the indulgence of the minister sought to assist in the matter.
BAOA confirmed through its Public Relations Officer, Oupa Gaofise that Majinda was appointed by the Board through the Human Resources Committee as an Advisor to the Acting Chief Executive Officer for a period of one (1) year.
Gaofise told Botswana Guardian that the Ministry of Finance is being apprised of developments affecting the Authority as is the norm.
“The Authority deems matters relating to the engagement of Mr Majinda as purely administrative and therefore not for public discussion. The media house is entitled to its view on the allegations relating to the motive behind the retention of Mr Majinda,” Gaofise said in response to a questionnaire sent to him.
Gaofise also confirmed that Nkanga has been appointed the Acting Chief Executive Officer for the Authority. The recommendation for appointment was done by the Authority’s Human Resources Committee and subsequently approved by the Board, he said.
