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- Future speedsters strut their stuff at Green Point
- Garcia tames wind to share the lead at SA Women’s Masters
- Skhosana starts his 2017 season in France
- Birkett spearheads big field for Drak Challenge
- Olympian Barrow chooses SA over Australia
- Prinsloo starts 2017 with another payday
- Junior Bok star Davids gets Blitzboks call-up
- Captain Terblanche ready to rock the Summer Series
- Bregman: SA Women’s Masters is anyone’s to win
SASCOC sanction audit into Powerboat SA
- Updated: January 14, 2012
SASCOC CEO Tubby Reddy on Saturday confirmed there will be a forensic audit of Power Boat South Africa.
The national governing body, following various allegations against the Federation’s administration, placed Power Boat South Africa under the administration of SASCOC Board member Mr Kobus Marais.
Mr Reddy said that following SASCOC’s investigation it was felt there was a need for a forensic audit.
‘An important component of the investigation into Powerboat SA is the need for a forensic audit. To this end I am happy to report that SASCOC has commissioned Deloitte to conduct such a forensic audit. Deloitte has been advised to probe the financial statements and the functioning of Powerboat SA for the last five-year period.
“They have also been advised to probe all the officials of Powerboat SA for the last five year period that maybe linked to any misappropriation or mismanagement, if evident,’ said Reddy.
Reddy added that an interim leadership in the discipline South African Inflatable Boat Association (SAIBA) had been set up by Mr Marais and thanked Marais for also overseeing the successful staging of the Trans-Agulhas event. Mr Marais will also meet with other disciplines within Powerboat South Africa next week.
Powerboat South Africa – Forensic Audit was long Overdue Powerboat South Africa (PSA) gracefully welcomes the Forensic Audit ordered by SASCOC to investigate the affairs of our organisation. This has been long overdue. Subsequent to the current Board of SASCOC being voted into power by the national federations, they immediately forced federations to embark on Transformation, Development, taking sports to schools and other programs to promote high performance and good corporate governance. PSA was in an awkward situation as none of the above was in place. Therefore the PSA Council resolved to launch a Strategic planning process which started in 2009 November and was completed in May 2010 for implementation. Mvuzo Mbebe and Associates was appointed to facilitate this process which was attended by all the structures of PSA until the final document was produced. The most important issue that was recovered was that the Assets of the sport were never owned by the sport but by individuals within and outside who were sitting with these assets being:- i. Television rights ii. Marketing Rights iii. Licensing PSA whole heartedly welcomes this Audit and is committing full cooperation at all levels. This process was long overdue as it was PSA who initially asked SASCOC to launch the Commission of Enquiry as early as July 2010. It was the ineffective malady administration of the office of Tubby Reddy the CEO of SASCOC that this had to take almost two years to happen. This Audit is contrary to that of Athletics South Africa which only took a snap to be effected. Most interestingly it only took PSA’s protest of the SASCOC’s Board Decision for this Audit to be effected. PSA’s main areas of interest would be for the Audit to look at:- a) The huge licensing scandal that has hit the entire country with individuals using PSA and SAIBA rights of being Authorising Agencies of the Department of Transport to issue licenses. It is sad that up to date the current Executive of PSA or SAIBA has not received any cent, yet these individuals are making hundreds of thousands of Rands. b) Government institutions have been used to source money using PSA’s name and events were staged yet not even a single cent is seen by the sport. c) The most recent event was the Parys Event which was held on 12 November 2011 funded and promoted through PHAKISA and the office of the Premier of Free State. d) Television Rights that were also used to generate money and for the promotion of individual companies with nothing benefited by the sport. e) Lotto funds received by the sport for three consecutive terms. f) To investigate financials for both PSA and PBRSA. g) Investigations on all illegal events including those with pending police cases. h) Not even a single asset bought by lotto funds is in the hands of PSA. A list of some of these assets with details of the people in their possession was compiled and submitted to lotto authorities. i) A Trust that was opened by one of the previous Presidents. It is believed that other assets of our sport are registered in this Trust. Unfortunately up to date the current Executive has no access to this Trustee. j) The recent R160 000 funding from Emfuleni Municipality for our Junior Athletes overseas trip. The Chairperson of the Juniors launched any enquiry after he was denied the expenditure report since this money had been deposited in an individual account. k) Investigation on assets bought, sold or disposed by PSA l) Investigation on Boat exports manufactured by our members using sport and manufacturers involvement in the sport. PSA was surprised to learn that it had been placed under Administration yet there was so much work still to be done. Similarly to Cricket SA it is in the interest of PSA to see this being made open and transparent Audit. PSA is also requesting this Audit to cover not only the said past 5 years but the past 10 years to date as a lot of discrepancies transpired during that period. All documentation and financials at our disposal will be freely available on request. My office would always remain helpful. It is therefore PSA’s wish that this process must not be managed by Mr Tubby Reddy as his involvement in the forensic audit of Cricket South Africa is still very questionable. He kept secret the KPMG report until when it was leaked to the media. All that he reported to the media was the clean sleet of Cricket South Africa, only to find out the total opposite from the actual report. In his presentation to the Cricket Commission he pointed fingers at the Minister accusing him of breaking the Sports Act by probing the affairs of Cricket SA. He even sneaked in the then Deputy President of Cricket SA who was later voted to power when the then President of Cricket SA, Mr Nyoka was sacked, to address us and present a sane picture of Cricket SA at our SASCOC’s General Assembly on the 27th of August 2011 in Rustenburg. This was just after the Minister had launched a probe on the affairs of Cricket SA. We hope the above presents clear reasons as to why PSA would request Tubby Reddy’s hands off from this Audit. PSA views this Audit as bigger than what we saw in Cricket.