Public protector Busisiwe Mkhwebane has found the auditors regulatory body guilty of maladministration in a complaint brought by the “Please Call Me” inventor.
Nkosana Makate, who is embroiled in a legal battle with Vodacom over the cellphone feature, asked Mkhwebane to investigate the Independent Regulatory Board for Auditors (Irba).
Makate accused the regulator of delay in finalising a complaint he had lodged with it in 2018, relating to the Vodacom matter. Makate reported the regulator to the public protector in January 2020.
He said he had asked the regulator to investigate the “liability disclosure of Vodacom (Pty) Ltd with regard to the ‘Please Call Me’ matter”.
Makate, among others, asked Irba to investigate “possible misstatement in the audited annual financial statements of Vodacom … relating to the extent of liabilities disclosed”. He also asked the regulator to investigate “concealment of possible criminality to the detriment of shareholders, such as investors, pension funds” ... and “misleading statements contained in Vodacom’s pre-listing statement [prospectus]”.