Natasha Marrian Deputy editor: Financial Mail

Boston-based consultancy Bain & Company has admitted to failures in its work for Sars, saying its former partner Vitorrio Massone was aware of axed commissioner Tom Moyane’s appointment, and that the contract with the tax agency was “irregular”. In a statement reacting to retired judge Robert Nugent’s final report on Sars, the company also concedes that it should have “walked away” when it became clear that Moyane had a “different agenda” to improving the capacity of the tax agency. Nugent was scathing in his assessment of Bain’s work at Sars and showed in his report that Massone met former president Jacob Zuma at least 12 times and was informed that Moyane would be appointed commissioner and would need help revamping the tax agency. Massone has since resigned and Bain has paid back the money it earned from Sars — amounting to R217m, including interest. Nugent recommended that fraud charges also be brought against the company over the illegal way it obtained the Sars contract. The B...

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