R1bn dispute at SA Express - report

R1bn dispute at SA Express - report

2012-08-15 11:25

Johannesburg -  There had been disputes in accounts involving R1bn at SA Express, before the airline's board was axed, Business Day reported on Wednesday.

Nkonki Incorporated, the former external auditors, said in its audit report it was not able to verify more than R1bn in accounting adjustments in the 2010/2011 financial year, and could not express an opinion on the account.

Public Enterprises Minister Malusi Gigaba sacked the board of the state-owned airliner after a "severe breakdown" in the relationship between it and the minister, Gigaba's spokesperson Mayihlone Tshwete told SABC radio news on Tuesday.

The department told the newspaper this was "not a missing billion rand, it's a billion rand of disputes".

"We are not going to stop at anything to correct what has been damaged at South Africa Express, that is why the new board has been instructed to fix what needs to be fixed," Tshwete said.

"If management are involved in any wrongdoing and the Auditor General uncovers that, the minister will take steps... We will make whatever decisions are necessary."

* Follow Fin24 on Facebook, Twitter and Google+.

  • chrono.man.7 - 2012-08-15 11:35

    The plundering continues....

      ally.oh.7 - 2012-08-15 12:41

      Just look in the pockets (ie, bank accounts) of the sacked board of directors and their families. The plundering will continue unless something is done swiftly and decisively

  • BigChiefPlumbPudding - 2012-08-15 11:49

    Small change for the fat cats.

  • mark.wade.9461 - 2012-08-15 12:02

    "Not a billion rand missing, but a billion rand in disputes," yes, and pigs fly, elephants are pink and there's not one dishonest member in the ANC. Neither is corruption in government rife, nor do tenderpreneurs rip everyone off.

  • ron.bilyard - 2012-08-15 12:31

    Nothing new there then

  • rontheogre - 2012-08-15 12:43

    I would dearly like to know where the SA government has appointed effective and efficient management in any semi-government entity. Escom, SAA, Telkom, Danel, SABC, etc, etc, are all or majority failures. Is no government approved board capable of doing anything correctly, legally or efficiently?

  • jack.kukard - 2012-08-15 16:07

    Just like the steps you took against all the other thieves , selebi , shaik , the fat cat ministers, must I carry on....

  • pages:
  • 1