PSA concerned about ongoing irregular expenditure at Public Investment Corporation [SOUND]

# The Public Servants Association says it is concerned about ongoing irregular expenditure at the Public Investment Corporation, as highlighted in recent scrutiny by the Standing Committee on Public Accounts. The association’s Claude Naiker says the PIC has been found to have incurred over 467.7-million-rand in irregular expenditure and 558-million-rand in fruitless and wasteful expenditure over the past five years. He says the Auditor-General’s recommendation is to strengthen internal controls, expediting investigations into irregular expenditure and ensuring strict adherence to financial-management legislation: