Home South Africa News CPS ordered to hand over financial statements

CPS ordered to hand over financial statements

Cash Paymaster Services Sassa

The Constitutional Court has ordered Cash Paymaster Services (CPS) to release its financial statements relating to its contract awarded by the South African Social Security Agency (Sassa), that was later declared invalid.

The ConCourt ruled on Thursday that CPS must provide Rain Chartered Accountants, the auditors appointed by Sassa, with its financial statements for verification and submission to the national Treasury for approval.

Freedom Under Law had approached the ConCourt after CPS, which used to pay out social grants, failed to comply with a court order delivered on 17 March 2017.

The court order stipulated that CPS file an audited statement of “expenses incurred the income received and the net profit earned” and to allow Rain access to its financial statements.

It further stipulated that Sassa and CPS needed to ensure that beneficiaries’ grants were paid out by 1 April 2017.

In its application, Freed Under Law argued that CPS did not allow Rain full access to its financial statements and that CPS had underreported its profits by approximately R800 million.

“The relief sought by Freedom Under Law requires that CPS, KPMG and Mann Inc furnish Rain with the outstanding documentation as identified by Rain for the purposes of independent verification and submission to the national Treasury for approval whereafter the approved verified report is to be filed with the Registrar of the Constitutional Court. This relief was unopposed by all the parties cited,” the ConCourt said in a statement on Thursday.

The ConCourt has also, however, postponed Freedom Under Laws challenge to determine the profits made by CPS and repayment until the audit process was finished.

“The Constitutional Court granted the above unopposed relief sought by Freedom Under Law and deferred the portion of the relief that was opposed by CPS which concerned the determination and repayment of profits made by CPS from the unlawful contract.”

-The Citizen

In other news – Watch – Shauwn Mkhize and her family dancing at a petrol station

Mzansi businesswoman and reality show star Shauwn Mkhize and her family are highly spirited, as they express happiness by dancing in a petrol station.

Shauwn Mkhize and her family dancing at a petrol station

The family had a whole day dedicated to bonding, and the businesswoman shared some photos on social media. However, she wowed followers with a video which she calls; “Madness of my family.” Learn More