• State Capture Inquiry

    A Cabinet task team in 2016 asked Standard Bank to keep Gupta accounts open, the inquiry heard.

  • Plan to kickstart economy

    The state's stimulus package will include reforms in mining, telecoms, tourism and transport.

  • Fuel's vicious cycle

    Petrol hikes affect all the country's consumers, businesses and trade linkages, writes Daniel Silke.

Loading...

Bain to launch investigation into work for SARS

Sep 03 2018 09:34
Fin24

Global consultancy Bain & Company will undertake a "deep and extensive investigation" into its work for the SA Revenue Service, it has announced.  

In a statement on Sunday, the consultancy said the investigation is needed in light of testimony heard at the Nugent Commission of Inquiry, which is probing corporate governance and revenue collection at the tax agency. 

"We want to be absolutely certain that we entered into our SARS engagement in full compliance with applicable procurement laws and that our investigation’s findings are accurate and unassailable," it said. 

"These last few weeks have been difficult. There is a growing frustration within our firm that we did not recognise the possibility that we may have been used to further a political or personal agenda. We always go into our work presuming our clients have good intentions. We are now questioning these beliefs as it relates to SARS."

Bain added it could not, as yet, publicly discuss anything that would affect the ongoing work of the commission.

* More to follow

* SUBSCRIBE FOR FREE UPDATE: Get Fin24's top morning business news and opinions in your inbox.

Follow Fin24 on Twitter and Facebook. 24.com encourages commentary submitted via MyNews24. Contributions of 200 words or more will be considered for publication.

NEXT ON FIN24X

 
 
 

Read Fin24’s Comments Policy

24.com publishes all comments posted on articles provided that they adhere to our Comments Policy. Should you wish to report a comment for editorial review, please do so by clicking the 'Report Comment' button to the right of each comment.

Comment on this story
0 comments
Add your comment
Comment 0 characters remaining
 

Company Snapshot

Money Clinic

Money Clinic
Do you have a question about your finances? We'll get an expert opinion.
Click here...

Voting Booth

Did you find Markus Jooste's testimony convincing?

Previous results · Suggest a vote

Loading...