PIC instability hits controls, says Makwetu
Auditor-general Kimi Makwetu says the management did not ensure that the supply chain management policy and Public Finance Management Act requirements were adhered to
01 October 2019 - 18:48
The political instability at the embattled Public Investment Corporation (PIC) has taken its toll on the asset manager, contributing to a decline in its internal controls, auditor-general Kimi Makwetu says.
The PIC, which manages R2.1-trillion, mostly for government employees and pensioners, has been under the spotlight for all the wrong reasons in recent times...
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