Schalk will resign from PwC, and York Timber has commenced the search for a new audit partner.
York Timber has announced the appointment of Schalk Barnard as its new CFO. Schalk has been the company’s external audit partner representing PwC in his capacity as the Africa Family Business Leader since 2019. The appointment will see him resign from PwC.
The appointment will also see Gerald Stoltz step down as interim CFO of the company, a position he has held since his appointment to CEO in July.
Read more: York Timber CFO Gerald Stoltz promoted to permanent CEO
Schalk, who is a qualified CA (SA, Australia and New Zealand) as well as a registered auditor and JSE-accredited audit partner, will step into the new role within the next six months, the company said in a statement.
Schalk holds a bachelor of accounting sciences (Hons) degree from the University of South Africa, a certification in the theory of accounting from the University of Cape Town, as well as executive leadership and professional services leadership diplomas from Harvard Business School.
He has previously headed up the EY Growth Markets practice across Oceania, and later held the position of business development leader Africa for the firm.
As a result of Schalk’s appointment, PwC’s continued appointment as York Timber’s external auditor would contravene the Independent Regulatory Board of Auditors’ rules and regulations in respect of independence. As such, the firm has resigned as the company’s external auditor with immediate effect, and the search for a replacement is underway.
