Deloitte losing their Touche

Noseweek Issue #132, 1st October 2010   


Deloitte losing their Touche

The South African arm of one of the world’s biggest audit firms, Deloitte and Touche, is under scrutiny for failing to report financial irregularities involving JSE-listed Advtech Ltd. Apparently the matter has been forwarded to the National Prosecution Authority by shareholders who don’t want to be caught up in claims of fraud and financial impropriety.

  • The forensic reports can be accessed here.

Like to see more ?


Subscribe to our on-line edition !

For a mere R305.00 per year you get the convenience of our online version including:
  • Twelve monthly issues of Noseweek delivered to your browser
  • A searchable archive
  • Access to every back issue since 1993 !
  • A downloadable PDF version

If it’s just the article you are after, you can purchase it by clicking here.

Tempted ?


For a taste of what awaits you, you are welcome to browse this free issue.

Share this article:

Reader's comments

 Like to add your own comment ? Please click here to subscribe - OR -
 
Submitted by : Denver Furmage of Pietermaritzburg on 2010-10-18 11:06:07
Sorry, can't find the link to the Forensic Report. Is it the "Genesis SLA" link? When I do click on here it comes up with "address not found". Anyone else having this problem?

Editor's Note
Denver, there must be something wrong with your connection. There are four documents provided. One of the documents proving impropriety Genesis SLA, The Finding, and two sets of the Transcript to the hearing.
 
Submitted by : Corrie Cloete on 2010-09-30 17:03:09
This is once again irrefutable proof why the IRBA only allows members if SAICA to be registered as Registered Auditors as well. Can you imagine the chaos if members of the South Afircan Institute of Professional Accountants, (SAIPA) the other full member of IFAC in South Africa were also allowed to register as Auditors. The 2 bodies will compete and the levels of assurance will improve to such an extent that the hanky panky of the financial world will stop overnight. Normal people will start sharing in the wealth of the various listed and unlisted companies and not only a few politically connected oxygen thieves. I know quite few SAIPA members that are very well equipped to tackle projects such as the Arms Deal, the Reserve bank / ABSA theft etc.

Editor's Note
Corrie, you could say that again
 
Submitted by : Mike Turner of RANDBURG on 2010-09-30 13:46:28
Johnathan Jansen, please resign now before your naive credibility disintegrates completely.

Editor's Note
Our bet is, he won't do anything like that; the pie is quite sweet on both sides, public and private educational sectors.

Disclaimer

While every reasonable effort is taken to ensure the accuracy and soundness of the contents of this publication, neither the authors nor the publishers of this website bear any responsibility for the consequences of any actions based on the information contained therein.