‘Bean counters’ to be held accountable for debt, irregularities

‘Bean counters’ to be held accountable for debt, irregularities

Accounting officers will now be held personally responsible, says acting national head of audits Alice Muller, 27 November 2019. Picture: Moneyweb

These include ‘contravention of legislation, fraud, theft or a breach of a fiduciary duty, identified during an audit performed under the Public Audit Act’.

Under the new powers granted to the auditor-general of South Africa (AG), any accounting officer’s name will be on the dotted line should it come to pass a certificate of debt is issued, officials warned yesterday. This makes the person personally liable for the financial fallout of a material irregularity, even if they move to another body, be it in the public or private sector. To this end, SA’s Directorate for Priority Crime Investigation (the Hawks), Asset Forfeiture Unit and the National Prosecuting Authority would be used. According to a National Treasury definition in its Guide for Accounting Officers Public...




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