Bain & Co to launch investigation into work done for Sars

Global consultancy Bain & Company has announced that it will undertake a “deep and extensive investigation” into its work for the South African Revenue Service (Sars).

READ MORE: Bain & Co. ‘used’ for ulterior motives, Nugent commission hears

In a statement on Sunday, the consultancy said the investigation is needed in light of testimony heard at the Nugent Commission of Inquiry, which is probing corporate governance and revenue collection at the tax agency.

“We want to be absolutely certain that we entered into our Sars engagement in full compliance with applicable procurement laws and that our investigation’s findings are accurate and unassailable,” it said.

“These last few weeks have been difficult. There is a growing frustration within our firm that we did not recognise the possibility that we may have been used to further a political or personal agenda. We always go into our work presuming our clients have good intentions. We are now questioning these beliefs as it relates to Sars.”

Bain added it could not, as yet, publicly discuss anything that would affect the ongoing work of the commission. — Fin24

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