Finance Minister Malusi Gigaba has called into question the veracity of the leaked Gupta emails.
He insists that none of the damning leaked documents link him to the Guptas, reports EWN's Barry Bateman.
He says the ideal forum to address the allegations is not press conferences.— Barry Bateman, EWN reporter
Gigaba told media that he has welcomed the establishment at a judicial commission of inquiry into state capture.
The minister spoke out at a briefing held with the Independent Regulatory Board for Auditors and CEO, where he also discussed matters related to the regulation of audit firms.
#Gigaba welcomes the commission of enquiry into state capture. We should be allowed to sit in the commission and answer to allegations. BB— Barry Bateman (@barrybateman) June 2, 2017
#Gigaba I have done no wrong. BB— Barry Bateman (@barrybateman) June 2, 2017
Gigaba says audit firm rotation plan will boost transformation
Gigaba says mandatory audit firm rotation will help boost transformation of the South African economy.
A study found that the four big global audit firms have been auditing more than 90% of market capitalisation in the Johannesburg Stock Exchange (JSE).
The rotation will only be implemented in 2023, Bateman explains.
At the same time, pundits have argued that other smaller, black-owned audit firms will benefit from the mandatory rotation.
It wouldn't be the dominant players necessarily that will get all the contracts, but others in the industry.— Barry Bateman, EWN reporter
What Malusi Gigaba would like to see is black audit forms, black-owned companies getting a bite of that market share.— Barry Bateman, EWN reporter
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