LETTER: Tito Mboweni must fire Land Bank executives
A ‘disclaimed opinion’ is invariably interpreted to mean that corruption and criminality took place
I was disheartened to read that the Land Bank reported a loss of more than R2.8bn for the year ended 2020 (“Treasury to back up depleted Land Bank (https://www.businesslive.co.za/bd/national/2021-01-11-treasury-to-back-up-depleted-land-bank/)”, January 11). The bank’s task is to help farmers. Its auditors’ report cited a lack of complete and proper records, including a paucity of internal controls.
In accounting language a “disclaimed opinion” is invariably interpreted to mean corruption and criminality took place. The Treasury is purportedly still backing the bank and its new management team, and another “bailout” is imminent...
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