CPS still courting controversy
ANN CROTTY: It’s difficult to know who’s more damned: Net1, KPMG or the entire audit profession
CPS and KPMG did what the public is becoming sick of, and which threatens the economy as much as corrupt politicians do
Thin response on social grants saga invites criticism.
In April 2014, when the constitutional court ordered Net1’s Cash Paymaster Services (CPS) to file an audited statement of the expenses incurred, the income received and the net profit earned under the completed contract with the SA Social Security Agency (Sassa), it presumably expected to receive something more than a seven-line financial statement. But on May 30 this year, that is what CPS delivered. Even audited (by KPMG) and with three and a half pages of footnotes, it may not have provided the sort of information the court had been looking for. In this response, CPS and KPMG did what the public is becoming sick of, and which threatens the economy as much as corrupt politicians do. They meticulously stuck to the letter of the legal order, overlooking the substance of it. That substance might include the questioning of KPMG’s claim to be "independent" of Net1.This was not the first Net1 document KPMG lent an "independent" tag to. In April Net1 released a document titled "Net1 sets...
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