Brown intervenes in dispute between Denel, auditors
Lynne Brown says she hopes to have concluded an arbitration process, over annual financial statements, within the next week.
It emerged in Parliament two weeks ago that Denel was reluctant to include a statement of irregular expenditure in its financials, after tabling them at its annual general meeting.
Brown says she hopes to have concluded an arbitration process within the next week.
Amending its financial statements would mean changing Denel's audit opinion from clean to unqualified.
Speaking in the National Council of Provinces on Thursday, Brown said she had initiated an arbitration process to resolve the matter.
She says she already received a report from Denel this week, but it's not conclusive.
“So the assertion that an incorrect annual report was tabled to Parliament, is incorrect and premature at this stage.”
Brown says she can't be pushed to act against Denel, and that she will only do so, once the arbitration process has run its course.