Question NW2276 to the Minister of Human Settlements
22 November 2021 - NW2276
Powell, Ms EL to ask the Minister of Human Settlements
(1)With reference to the Estate Agency Affairs Board (EAAB) Fidelity Fund, what is the status of the forensic audit and/or forensic investigation into the EAAB Fidelity Fund; (2) In respect of the specified audit and/or investigation, (a) what total amount has been spent on forensic services to date and (b)(i) which consultancies and/or firms have (aa) been mandated to conduct the audit and/or investigation and (bb) resigned and/or terminated their services in this regard and (ii) for what reasons in each case.
Reply:
(1) The forensic audit has not yet commenced.
(2)(a) None.
(2)(b)(i)
(aa) & (bb) Sizwe Ntsaluba Gobodo & Grant Thornton Advisory Services (Pty) Ltd have been mandated to conduct the audit
and/or investigation.
(bb) Grant Thornton Advisory Services Pty Ltd.
(2)(ii) It was discovered that a potential conflict of interest exists as Grant
Thornton was contracted by the Estate Agency Affairs Board to conduct an audit of the Fidelity Fund in 2017. The Department will appoint a substitute forensic auditor by 31 December 2021.