| 2024/11/26 |
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Media Statement PRETORIA – A 60-year-old board member of a public entity handed herself over to the Serious Corruption Investigation team based in Germiston on allegations of contravention of the Public Finance Management Act (PMFA). The suspect allegedly failed to disclose that her company had previous contractual relationships with Price Waterhouse Coopers and Nkonki to the Public entity board of directors not its audit committee. It is reported that on 24 August 2011 the Board of Directors of the public entity convened and discussed the award of the contract to external auditors who had tendered for a contract to render the services of auditing. PWC and Nkonki had submitted bids for the contract and the board of directors recommended that the two firms be awarded the contract. The suspect was a member of the board that deliberated and recommended appointments of the two firms and she voted in favor of the resolution of the board. The suspect was aware that PWC and Nkonki had tendered for services referred hereto above as at the time she was non-executive member and chairperson of the Audit Committee of the public entity. The suspect’s failure to disclose past contractual relationships with the said companies caused prejudice to the proper administration of the affairs of the public entity and was also prejudicial to the public who are entitled to procurements by organs of state that are fully compliant with the prescripts of the Constitution and the law. The public entity made payments amounting to approximately R59 000 000.00 because of the conclusion of a contract which would not have been concluded if all the material facts relating to the relationship between the accused and the two companies were known to the board of directors of the public entity. Ends
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