The South African Institute of Chartered Accountants has appointed Freeman Nomvalo as its new chief executive, set to start to tomorrow.
The organisation made the announcement earlier today after its board rubber stamped the appointment earlier in the week.
Nomvalo replaces Terrence Nombembe, whose term ends today but takes over from acting chief executive Fanisa Lamola, who has been manning the position ever since Nombembe was seconded to the Zondo Commission of Inquiry into State Capture last year.
“The Saica board has chosen a steadfast operator who has been given the mandate to restore trust in the chartered accountancy profession,” said Lwazi Bam, Saica chairperson, in a statement about the appointment.
“The board believes that Saica will benefit from Nomvalo’s experience with the broader accounting profession, specifically his previous role in the development of the accounting profession legislation and policy. The board looks forward to his contribution as we not only deal with the current challenges but also with preparing the chartered accountancy profession to respond to the ever-changing environment,” he added.
Saica said aside from being a Harvard alumnus, Nomvalo was also South Africa’s Accountant-General from 2004 to 2013 where one of his highlights was working with the British Commonwealth to assist in promoting internal audit and risk management in 18 Caribbean Countries from 2009 to 2011.
In June 2013, he took up the role of chief executive at the State Information Technology Agency until March 2015. Since then he has worked as a business consultant and established an Adaptive Leadership Practice to help organisations drive sustainable value-adding change.