RAF preparing financial statements using accounting standard ‘not available’ to it

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RAF preparing financial statements using accounting standard ‘not available’ to it
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‘We continue to do so’ says CEO, who claims an SIU report said to implicate him in ‘possible wrongdoing’ in a R79m office lease was leaked to damage the chances of his contract being renewed.

Collins Letsoalo is confident he will return as RAF CEO once his contract expires in August, rating his chances of reappointment as ‘very high’. Picture: RAF

Letsoalo on Wednesday provided a number of documents, including the RAF’s motivation to National Treasury requesting a deviation from normal procurement process to acquire the office space for the regional office for a period of five years after many failed attempts to acquire office space. “This idea of this rogue CEO going amok and controlling everyone will never stand the test of time because evidence will suggest otherwise,” said Letsoalo.“When you go and take R36 billion from people you expect it. It’s going to come.

However, Judges Brenda Neukircher, Graham Moshoana and Graham Girdwood in April 2024 dismissed with costs the RAF’s challenge of the Auditor-General of South Africa disclaimer of the fund’s 2020/2021 annual financial results and for an order declaring the disclaimer invalid and unlawful.

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