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SASCOC sanctions audit

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Saturday January 14, 2012

SASCOC CEO Tubby Reddy on Saturday confirmed there will be a forensic audit of Power Boat South Africa.

The national governing body, following various allegations against the Federation’s administration, placed Power Boat South Africa under the administration of SASCOC Board member Mr Kobus Marais.

Mr Reddy said that following SASCOC’s investigation it was felt there was a need for a forensic audit.

‘An important component of the investigation into Powerboat SA is the need for a forensic audit. To this end I am happy to report that SASCOC has commissioned Deloitte to conduct such a forensic audit. Deloitte has been advised to probe the financial statements and the functioning of Powerboat SA for the last five-year period.

“They have also been advised to probe all the officials of Powerboat SA for the last five year period that maybe linked to any misappropriation or  mismanagement, if evident,’ said Reddy.

Reddy added that an interim leadership in the discipline South African Inflatable Boat Association (SAIBA) had been set up by Mr Marais and thanked Marais for also overseeing the successful staging of the Trans-Agulhas event. Mr Marais will also meet with other disciplines within Powerboat South Africa next week.

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