Majola asks of critics to focus on fact that no money is missing

2011-08-05 00:00

CAPE TOWN — Cricket South Africa (CSA) CEO Gerald Majola says he respects the process currently being conducted, following the release of the initial KPMG report on CSA’s finances.

KPMG was called in to carry out a forensic audit of Cricket South Africa after repeated allegations that R68 million was missing from the organisation. The audit findings showed that no money is missing from CSA.

However, he believes a number of facts are not evident in current news reports about this process.

“Unfortunately now that the forensic audit result has proven as untrue the allegations of missing millions that were published and printed in many newspapers, there is an attempt to deflect attention from these false claims that led to the audit. The audit was never about the amounts paid to the CEO as my remuneration is not secret and is published in CSA’s Annual Report,” said Majola

Majola says when questions were asked about the bonus he received, he voluntarily paid back the bonus he had been awarded. After CSA investigated the matter, the bonus was then repaid to Majola.

Majola believes there have been attempts by those who leaked the report to create the impression that the bonus amount quoted was paid in one financial year.

“The amount has been bundled together to create the impression of an excessive bonus, leaving out the special circumstances of hosting two international events, the Indian Premier League (IPL) and Champions Trophy, and that the amounts were paid in two separate financial years.”

Majola says he is “deeply disappointed” that there have been media attempts to change the focus of the KPMG audit after no missing millions were found.

He says he has always acted in the best interests of CSA and will continue to do so in future.

“I ask those who are repeating the new round of allegations to ask themselves why they are not paying attention to the fact that the millions they had reported were missing are in fact not missing?

“I accept the KPMG recommendations to tighten the reporting procedure, which were also highlighted by the Khan Commission,” said Majola.

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