The SA Institute of Chartered Accountants is to clamp down on members accused of unethical conduct and linked to fraudulent activities.

The institute is moving ahead with disciplinary investigations into chartered accountants who may have erred ahead of the collapses of Regal Treasury Bank and Leisurenet.

Institute executive president Ignatius Sehoole said that investigations relating to auditors would be conducted by the Public Accountants' and Auditors' Board.

Sehoole said the institute would deal with those investigations relating to accountants who were not registered with the board.

He said official investigations, such as those undertaken by the Reserve Bank or conducted under the Companies Act, took precedence over investigations conducted by professional bodies.

Sehoole said the institute would have to wait before the official enquiry in the Regal Treasury Bank to be completed before it could take action.

He said a fairly lengthy process of sifting through the evidence would begin. "If sufficient evidence was obtained, charges would be framed, and disciplinary hearings conducted".

Sehoole said Finance Minister Trevor Manuel had reportedly criticised tax advisers who gave companies bad advice on tax without being disciplined.

Sehoole said not all tax advisers were chartered accountants or other professionals subject to a code of professional conduct. Chartered accountants were subject to a strict code of conduct and could not walk away, he said.

With acknowledgements to Sanchia Temkin and Business Day.