Grant Thornton rubbishes controversial ‘Zim Dollar statement’, suspends culprit

Founder and managing partner of top accounting firm Grant Thornton Zimbabwe Regis Saruchera has dissociated his company from a statement that went viral on social media on Monday rubbishing the re-introduction of the Zimbabwe Dollar .

The statement was authored by one of the company’s employees without being sanctioned and the individual in question was suspended pending investigations.

The statement insinuated that the government’s pronouncement was a   retrogressive move which will result in massive job cuts and shortage of basic commodities in retail shops

“The instrument has all the hallmarks of a hastily concocted measure to stop the downward spiral of the RTGS$  against other currencies  whether it will have any effect remains to be seen.

“We envisage that with no foreign currency earnings and obtaining them on the legal matter still an issue to be addressed, there is bound to be challenges for companies to restock especially if the current inventory was acquired in USD.

“This might at the end of the day lead to empty shelves and massive job cuts as companies try to streamline their costs,” read part of the statement.

Grant Thornton managing partner Reggie Saruchera was quick to dismiss the statement and made it clear that his company did not authorise publishing of such.

In a statement, he said Grant Thornton will remain committed to adhering to local regulation, regional and international standards  and therefore the public is advised to refrain from the fake news that is circulating.

‘’The circulation of this article and its contents was not authorized by the partnership,’’ wrote Saruchera.

“We wish to advise that the views  , thoughts and opinions expressed in the article concerning SI142 of 2019 are not a reflection of views and opinions of Grant Thornton Zimbabwe and its partners.

“We therefore dissociate ourselves from this article and urge the public to refrain from circulating the article,” he added.

Grant Thornton is one of the world’s largest professional services networks of independent accounting and consulting member firms.

The Zimbabwe dollar is now the sole legal tender following the abolishment of the multi-currency system by the government on Monday.