“The basis in which the Emergency General Meeting (EGM) of Saturday, 21th June was conducted was illegal and flawed,” he said in reaction to claims of his removal.
He outlined that the Council members already put on Disciplinary Hearing for compromising the registration of Audit Firms and issuing of Practice Certificates were the people behind EGM together with their accomplices who are illegally practicing as External Auditors.
Mr. Gaye explained to The Point that under S20 (2) (b) of the Financial Reporting Act 2013 which established GICA, only the Council President and Secretary can convene a meeting. He went on to say that all the meetings convened by other Council members including the EGM were invalid and aimed to cloud the atmosphere and confuse GICA members and the general public. He further stated that it was illogical for people about to face Disciplinary Hearing for Gross Professional Misconduct to call for the Council President’s removal.
An official correspondence seen by The Point recommended for the six Council members behind publications to be put on Disciplinary Hearing in accordance with the Financial Reporting Act 2013.
According to Mr. Gaye, the fact that the six Council members and the “illegal EGM” could not elect his replacement shows how “flawed” the process was.
Mr Gaye highlighted some major achievements recorded for the past one (1) year since he took office:
- “Organizing regular Continuous Professional Development Programs (CPD) for GICA members which was unprecedented.”
- “GICA’s application to join the global body, International Federation of Accountants (IFAC) nearing completion.”
- “Work for GICA to have a globally recognized Chartered Accountancy qualification gaining momentum.”
- “Settling all the inherited liabilities of GICA since coming into office.”
- “Increasing by three-fold GICA’s cash reserves.”
- “Cash for daily operations no longer an issue for GICA.”
- “Increasing the public trust in the accountancy and audit profession.”
- “Continuing to protect the interest of both the public and private sectors through globally acceptable regulatory matters.”
