JOHANNESBURG - Yakhe Kwinana, a former member of the SAA board, was fined R6.1-million after a disciplinary hearing.
She's also been disqualified as a member of the SA Institute of Chartered Accountants.
Saica found Kwinana guilty of 13 of the 14 charges brought against her.
Saica's Freeman Nomvalo said, "one of the charges is withdrawn, of all the charges, [she was] found guilty of violating the code of conduct in various ways..."
"She can appeal that decision in the higher authority, probably the courts and that is well within her right."