Hi Everyone,

I was part of a CC consulting business with a 50% shareholding and the other 50% held by one other member. I left the firm and the country two years ago.
In order to resolve financial issues the accountants indicated that the annual financial statements would be compiled and also the management financial statements for the financial year up to the day I left. There was still some outstanding money that had to be invoiced for work-in-process at the time. Taking this into account a distribution schedule of profit share due to members (2 of us) would be drawn up based on future cash flow.
However, as I said this was two years ago and up to now I haven’t received any financial statements. Upon calling the accountants they informed me that, based on instruction from my previous business partner, they are not allowed to provide me with any financial statements.

I now have two questions:
As member of the CC on what basis can the accountants refuse to provide me with the information and what action can be implemented against them in terms of SAICA ethics and code of conduct?
Because we are talking of a substantial amount what action can be taken against the other member based on the above?

Thanks

Steph