Playing bank-bank with other people’s money

Show simple item record Basson, Deon 2008-04-14T06:14:47Z 2008-04-14T06:14:47Z 2007
dc.description.abstract The article below is an extract from his book titled “Public Interest Warriors” to be published soon. By March 2007 total banking deposits held by individual South Africans ran into almost R269bn which is equal to 15% of South Africa's GDP. Masterbond and several other companies during that time chose to sidestep, among others, the Banks Act and the Companies Act. The result was that investors were left unprotected. The two key ingredients for disaster were by 1980 evident on TEA's balance sheet - a highly geared balance sheet and short term funding. Supreme did business as an insolvent company for at least two years. The directors knew about it but kept the fact away from investors. Likewise they showed very little respect for the law, their responsibilities in terms of the Companies Act and regulatory authorities. en
dc.format.extent 152068 bytes
dc.format.mimetype application/pdf
dc.identifier.citation Basson, D 2007/8, 'Playing bank-bank with other people’s money', Auditing SA, pp. 11-16. [] en
dc.identifier.issn 1028-9003
dc.language.iso en en
dc.publisher Southern African Institute of Government Auditors en
dc.rights Southern African Institute of Government Auditors en
dc.subject Investments en
dc.subject.lcsh Investments -- South Africa en
dc.title Playing bank-bank with other people’s money en
dc.type Article en

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