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Govt fires SAA’s board
14 August 2012

Public Enterprises Minister Malusi Gigaba has axed the board of the state-owned airliner SA Express, according to reports on Tuesday (14/08/2012).

There had been a “severe breakdown” in the relationship between the minister and the board because of a dispute about accounting systems, Gigaba’s spokesman Mayihlone Tshwete told SABC radio news.

”For two years we didn’t get financial statements from the company,” Tshwete told the broadcaster.

Business Day reported that the airline had failed to present its 2011/2012 financial statements to Gigaba at its annual general meeting on Monday.

According to Beeld, there had been allegations of irregularities, including a R32-million VAT payment allegedly mistakenly made to the SA Revenue Service.

Assets had also allegedly been managed outside the guidelines of acceptable accounting practice, the newspaper reported.

However, Lillian Boyle, who chaired an inquiry by the board, told the parliamentary portfolio committee earlier this year the irregularities were “accounting errors that can be attributed to the bookkeeper’s incompetence and inexperience”.

She said the mistakes had been perpetuated for a number of years, and that they had been continuously rolled over.

On Monday, Boyle was replaced by Andile Mabizela, a well-known businessman with experience in the airline industry.

Gigaba also replaced the auditors, Nkonki, and said the new board should urgently resolve any outstanding issues concerning the annual report.

Nkonki partner Steven Firer told Business Day the firm was relieved that it would no longer be involved in auditing the carrier.

“We are pretty happy about that because of the high engagement risk…. There are just too many things that can go wrong. We can’t put our firm in that position again,” he said. – Sapa





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TheRef [15 August 2012 6:02]
Sack the board of SAA?The government should sack themselves incompetent bunch!
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Your Views

Bokkie 16 August 2012 11:51 am

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TheRef 15 August 2012 6:02 am

Sack the board of SAA?The government should sack themselves incompetent bunch!…

alvonhumb 14 August 2012 2:10 pm

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royboy 14 August 2012 11:47 am

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royboy 14 August 2012 11:45 am

Mayor locked in,this is the actions one would expect of a schoolboy prank,yet our supposed LEADERS carry on without any form of embarresment at this infantile behaviour,and yet we vote them in,what a …

royboy 14 August 2012 11:39 am

It is at times like this that I wish the death penalty was in place,these cowardly scum do not deserve a place on earth after what they did to the elderly Jansenville farmer and his wife…

TheRef 14 August 2012 6:39 am

Deputy Motlanthe talk is cheap show us tax payers some action!…

TheRef 14 August 2012 6:36 am

This is the second Transformer failure in as may years.The question is where is the maintenance schedules for the equipment if any!…

alvonhumb 13 August 2012 7:02 pm

ANC talks the talk, but doesn’t walk the walk. There is never any action when corruption raises its head. An enquiry is followed by inaction while the problem hopefully blows over (e.g. Faku and the K…

thirsty 13 August 2012 5:22 pm

what a twat, i mean twit, i mean what wit he speaks with!!!…