Following up on the CFO Talks Anti-Corruption debate hosted by CFO Talks last week in Sandton, Classic FM picks up the topic with CGF Research Institute CEO Terry Booysen, SA Institute of Business Accountants (Saiba) CEO Nicolaas van Wyk and Africa Forensics and Cyber CEO David Loxton.
The question is: do we need a dedicated CFO Act that requires CFOs to make a declaration any time there is evidence of a corrupt transaction or an attempt at one? SA has world-class legislation and governance codes, but the enforcement of these codes appears to be weak. Saiba CEO Nicolaas van Wyk argues that there is need for such legislation, and points to several instances where CEOs have bullied CFOs into manipulating financial results.
You can listen to the debate here.