The Star reports that the SA Institute of Chartered Accountants (Saica) has launched an investigation into six board members of Royal Bafokeng Platinum following a complaint about their alleged unethical conduct.
Saica is investigating the six because they are chartered accountants and registered with the organisation. The probe is a culmination of wrangles between Royal Bafokeng and an investment company which has accused the mine of being part of a plot to defraud it. Ithemba Financial Services allegedly lost some R2.4 million mysteriously after doing business with the mine. Ithemba confirmed that it approached Saica to lodge a complaint against chartered accountants on Royal Bafokeng’s board, in the belief that they had acted unethically by allowing fraud to happen under their watch. Ithemba indicated: “We’ve tried by all means to resolve the matter. It’s the board that’s responsible for this matter. We’re not fighting anybody. We want our money back. That’s all we want. We want justice.” Saica confirmed that it was probing the matter, but would not comment further. Royal Bafokeng said Ithemba’s claims were spurious.
- Read the full original of Bongani Nkosi’s report on the above story at The Star
Get other news reports at the SA Labour News home page