corruption Archives - B2B Central

27 Sep 2021

Are SARS lifestyle audits the answer to corruption?

By Staff Writer

The 2021 Tax Indaba commenced on 20 September 2021 and the first day of the conference saw an enthralling panel discussion chaired by Jerry Botha, Managing Partner of Tax Consulting South Africa on lifestyle audits. The panel, which included former Acting SARS Commissioner Mark Kingon and CEO of the South African Institute of Tax Practitioners, Keith Engel, shared great insight into this audit strategy.

05 Mar 2020

Standards, values and ethics at the Masters’ offices

By Janice Roberts

By: Alex Simeonides, CEO, Capital Legacy The recent directive sent out by the Department of Justice for the investigations by the Special Investigations Unit (SIU) into the offices of the Masters of the High Court has most, within the industry, in uproar. The motivation for this investigation – someone with authority indulged themselves leaving the...

18 Sep 2019

CMS suspends five officials

By Janice Roberts

The Council for Medical Schemes (CMS) has suspended five officials over allegations of irregularities following anonymous tip-offs on its hotline.

29 Jan 2019

Index reveals how anti-corruption efforts in SA and most countries stalled

By Janice Roberts

The Corruption Perceptions Index (CPI) 2018, released today by Transparency International (TI), the global coalition against corruption, is evidence of a world that has not come to grips with burgeoning corruption. This is true for South Africa, as it continues to languish with a score of 43, the same as the previous year, suggesting that...

18 Oct 2018

VBS curator reduces costs of the Bank

By Janice Roberts

Over the past months, the curator of VBS Mutual Bank, Mr Anoosh Rooplal, has had to reduce all non critical costs in an attempt to align cash inflows with the cash outflows. Cash expenses have been exceeding cash income earned by the mutual bank.

02 Aug 2018

How businesses can spot the set of conditions that enable fraud to occur

By Janice Roberts

Economic crime is harming businesses at a staggering rate throughout the world. Digital innovation and technology has also given rise to new attack surfaces for economic criminals and fraudsters, with the rate of instances growing at exponential levels.

24 Jul 2018

How harmful is a bribery or corruption scandal to a company?

By Janice Roberts

Corruption involves a wide range of activities including bribery and dishonest or fraudulent practices by relatively powerful people. With the prevalence of corruption globally, the UK Bribery Act 2010 requires companies to mitigate financial penalties and reputational risks associated with these illegal acts within their organisation and third-parties, through adequate preventative measures. However, despite strict...

18 Jul 2018

Mergers & Acquisitions activity declines in SA in first half of 2018

By Janice Roberts

Merger & Acquisition (M&A) transactions in South Africa declined in terms of both the volume and value of domestic and cross-border deals, according to analysis by Baker McKenzie of Thomson Reuters M&A data for South Africa. Transactions fell by 44% and 52% in terms of volume and value, respectively, in the first half of 2018...

11 Apr 2018

Companies should be more proactive in fighting corruption

By Janice Roberts

Organisations are not immune to the devastating consequences of fraud and corruption. Nowadays, organisations are under threat from a host of risks including procurement fraud and cybercrime. Zaakir Mohamed, Director in the Dispute Resolution practice at Cliffe Dekker Hofmeyr (CDH), says that it is critical for organisations to fully understand the risks they face and...

29 Mar 2018

SA’s corruption perception worsens

By Janice Roberts

The perception of corruption in South Africa has deepened over the past two decades.

29 Nov 2017

Malema is leader most committed to combating corruption: Survey

By Janice Roberts

Key findings of the 2017 South African Citizens’ Bribery Survey include: 37% of respondents know someone who was has been asked for a bribe in the past year (up 4% from 2016); The largest proportion of bribes (57%) are traffic related (up 6% from 2016); 14% of bribes are for jobs (down 4% from 2016);...

29 Nov 2016

Corruption and bribery, a company’s biggest risk

By Janice Roberts

Recently published research from the Henley Business School has found that around 85 percent of international businesses resort to bribery when operating in developing economies. The study interviewed over 900 business executives during a period of 12 years, and indicated that companies from many developed countries are notoriously malleable in their attitudes towards paying bribes...