Anoj Singh's CFO Awards from 2014 and 2015 revoked
The former Transnet and Eskom CFO was found guilty of 12 charges by SAICA.
The organisers of the CFO Awards in South Africa, CFO South Africa, have revoked four awards received by former Transnet and Eskom CFO Anoj Singh in 2014 and 2015. This has happened in close consultation with the current panel of judges.
The organisation and the panel have taken this decision after the South African Institute of Chartered Accountants (SAICA) stripped Anoj of his membership, because he was found guilty of 12 of the 18 charges levelled at him.
The four awards won by Anoj were already suspended in October 2017, after the organisation and the panel of judges deemed public revelations about his conduct during his tenure at Transnet (for which he received the awards) and subsequently at Eskom to be damaging to the stature and integrity of the CFO Awards.
According to the CFO Awards regulations, awards can be suspended at the discretion of the panel of judges, and can be reinstated if a court judge or official commission of enquiry clears the individual of all charges. The awards can be permanently revoked if a court judge or official commission of enquiry finds the individual guilty.
“Integrity and ethical conduct are crucial assets of good leaders. In times where both the public and private sector are subject to important scrutiny, CFO Award winners need to be role models and shining lights of excellence,” says Joël Roerig, MD of CFO South Africa.
Anoj was found guilty of improper conduct relating to the acquisition of 1,064 new locomotives, negligence, and in breach of SAICA’s code of conduct, at Transnet. It was also found that during his time at Eskom, Anoj approved irregular payments for Trillian and Tegeta and was found guilty of having brought the CA profession into disrepute, among other things. Anoj was found not guilty with regard to his improper relationship with the Guptas, who had paid for his travelling expenses, as the trips took place before he joined Eskom.
Anoj received the Public Finance Award (now called Public Sector CFO of the Year) in both 2014 and 2015. He was also handed the Governance & Compliance Award in 2014 and the Strategy Execution Award in 2015. These awards were given to Anoj following an interview and voting process by the panel of judges.
The annual CFO Awards recognises CFOs of listed companies, large corporations, state-owned entities and government institutions and awards them for outstanding performance and leadership.