News24

Powerboat SA in hot water

2012-01-15 13:40

Johannesburg - A forensic audit has been ordered into Power Boat South Africa by the South African Sports Confederation and Olympic Committee (SASCOC), the national sport governing body said on Saturday.

The audit followed various allegations against the federation's administration, SASCOCCEO Tubby Reddy said in a statement.

Powerboat SA has since been placed under the administration of SASCOC board member Kobus Marais.

Reddy said following SASCOC's investigation it was felt that there was a need for a forensic audit.

"An important component of the investigation into Powerboat SA is the need for a forensic audit," Reddy said.

"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 may be 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 Marais and thanked him for also overseeing the successful staging of the Trans-Agulhas event.

SASCOC said Marais would also meet with other disciplines within Powerboat SA next week.

 

SAPA