There has been a number of reports in the local papers, with headlines screaming out for blood.
Accusations of how one man ran his charity like his "fiefdom", how he manipulated the books by creating separate legit accounts which topped up balances. How he identified, negotiated and awarded contracts by himself. How he treated his Board (which was placed to maintain checks and balances and to prevent such incidences from happening) like they were not there. How he showered his "special friends" with overly-generous remuneration packages.
I pity the man, really. Because these things happen everyday.
Working in an SME consulting environment, we see signs of all these things and worse in our clients.
Its just unfortunate that this man ran a charity, and as such was using public funds. Would things have been different if he was the owner of a Large Local SME? What are we doing to prevent such incidences in these companies?
Auditors were put in the spotlight recently for failing to spot discrepancies in accounts and as such found to be negligent by the courts. Auditors usually only know what is shown to them. Are whistle-blowers the key to keeping our SMEs in check? How much is the Law protecting such whistle-blowers then?
I wish the man good luck. And for this to blow over soon, so that he can move on with his life.
P.S. Sorry, I rant. Work gets to me.
Accusations of how one man ran his charity like his "fiefdom", how he manipulated the books by creating separate legit accounts which topped up balances. How he identified, negotiated and awarded contracts by himself. How he treated his Board (which was placed to maintain checks and balances and to prevent such incidences from happening) like they were not there. How he showered his "special friends" with overly-generous remuneration packages.
I pity the man, really. Because these things happen everyday.
Working in an SME consulting environment, we see signs of all these things and worse in our clients.
Its just unfortunate that this man ran a charity, and as such was using public funds. Would things have been different if he was the owner of a Large Local SME? What are we doing to prevent such incidences in these companies?
Auditors were put in the spotlight recently for failing to spot discrepancies in accounts and as such found to be negligent by the courts. Auditors usually only know what is shown to them. Are whistle-blowers the key to keeping our SMEs in check? How much is the Law protecting such whistle-blowers then?
I wish the man good luck. And for this to blow over soon, so that he can move on with his life.
P.S. Sorry, I rant. Work gets to me.
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