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CSA`s audit report set to blow lid on bonus case

Johannesburg: The Investigation report into Cricket South Africa’s financial affairs will be revealed later on Friday, officials have said.

The board was set to discuss the findings and recommendations of accountancy firm KPMG who were asked to conduct a forensic audit into the Section 21 company, two years after unofficial bonuses were paid to the cricket body`s chief executive, Gerald Majola, and 40 members of staff for the hosting of the Indian Premier League (IPL) and Champions Trophy tournaments in 2009.

The findings of the audit will bring an end to the controversy surrounding Majola and senior members of CSA, who were awarded 4.7 million Rands in addition to the extraordinary bonuses paid to them in 2010, according to reports.

Majola had not disclosed the 1.7 million Rands he received from the IPL and ICC when CSA, with the approval of the remuneration committee Remco, awarded him a bonus of eight times his monthly salary for the successful hosting of the 2009 IPL.

CSA president Mtutuzeli Nyoka had called for an external investigation into the body`s financial affairs and continued to raise his concerns about financial irregularities, but was ousted by CSA`s board in February.

Nyoka took the matter to the South Gauteng High Court and CSA were ordered to reinstate him. Nyoka also claimed 68 million Rand had gone missing from a CSA bank account but the federation said the money had been held on behalf of the Board of Control for Cricket in India as running costs of the 2009 IPL.

ANI

From Zee News

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