Parliament wants to know why Malusi Gigaba called for the PIC forensic audit
Committee chairman Yunus Carrim says the finance must show that an investigation is in the interests of the Government Employees Pension Fund and the public
Parliament’s standing committee on finance has questioned Finance Minister Malusi Gigaba’s rationale for requesting a forensic audit into the Public Investment Corporation’s (PIC’s) investment contracts, saying it was not clear to MPs why he wanted the probe. "If he insists that he wants such an investigation, he will need to show that it is in the interests of the Government Employees Pension Fund (GEPF) and the public and provide rationale for and the terms of reference for the investigation to the committee," the committee’s chairperson, Yunus Carrim, said in a statement earlier on Wednesday. Gigaba wrote to the PIC board earlier this month, directing it to conduct a forensic investigation into all PIC contracts on investments over the past two years. He gave the board until October 23 to provide him with terms of reference. The board is due to meet on Thursday to discuss how it will respond to his letter.
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