Embed a robust whistle-blower policy inside corporate culture
Report on PIC highlights the pitfalls of a lax approach to the Protected Disclosures Act
The report of the judicial commission of inquiry into allegations of impropriety at the Public Investment Corporation (PIC), released by President Cyril Ramaphosa on Thursday, again highlighted the importance of a strong, reliable whistle-blower programme for corporates.
It was found in it that “the whistle-blowing process was not to be trusted”; that even its CEO, Dan Matjila, “acted in breach of the PIC’s whistle-blower policy”; that the PIC did not have in place training programmes to create awareness of the whistle-blower policy; that the board did not review, consider or receive a report on an anticorruption programme; and the board failed to exercise oversight regarding the whistle-blower policy...
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