ANCYL investment company merri-go-round

McSack

McSack

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ANCYL won't throw book at poor managers

The ANC Youth League will not act against the previous managers of its investment company for poor bookkeeping and unaccountability because they were "inexperienced" elected comrades, and not accountants.
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"When you are elected in conferences, it is by popular support. So not everybody elected would have the art of accounting management processes and procedures."
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:D:D

I rate this as one of the most amusing reads I've had in a long time.

You need someone who can actually do the job in the position ?? Really ??:rolleyes:
I can just imagine the fskwits standing around scratching their heads trying to figure out what the problem is with popularity over competence
:D

...board and management of Lembede had failed to keep accounting records or audit financial statements since the company was established in 2000.
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How did they know how much tax to pay? Surely this isn't legal?

The report pointed out that the entire organisation and its management lacked discipline, transparency, accountability and responsibility and was prone to potential conflict of interest
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Yup ... sounds just like government officials in training to me
 
This was all said on a public forum? I would think SARS would have something to say about this. Oh wait, doesn't SARS get it's management the same way?
 
McSack said:
You need someone who can actually do the job in the position ?? Really ??:rolleyes:
I can just imagine the fskwits standing around scratching their heads trying to figure out what the problem is with popularity over competence
:D
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No really? I thought those seven years it takes to become a CA were an Apartheid legacy! :eek:
 
McSack said:
How did they know how much tax to pay? Surely this isn't legal?

Yup ... sounds just like government officials in training to me
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Oh please let SARS catch whiff of this little exercise in futility! I'd like to see them squirming under the revenue service microscope.

because the organisation had not suffered any loss.
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Once again, if SARS gets a hold of this company they could be in for massive fines, penalties, back taxes; all amounting to a massive loss!

However, it is merely an indication of cadre deployment and BEE at its most extreme that will result in the doom of many an organisation.
 
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This is almost as funny as Zimbabwe believing they can get diesel from a rock:D
 
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