A SOC setting the trend with unqualified audits since inception

A SOC setting the trend with unqualified audits since inception

State-Owned Companies (SOC) can offer meaningful benefits to the economy of a developing country when managed correctly.

Due to misdirection of resources, some SOCs have underperformed, thus having a negative impact on public finances and economic growth in South Africa.

Citizens expect high-quality services from an SOC and also demand a high level of transparency, reporting and accountability.

With shrinking budgets and higher demand, public agencies need to continue to find ways to be prudent in their operations by managing more efficiently, cutting costs and spending taxpayers’ funds responsibly.

SOCs play an important role

A well-managed SOC can play a crucial role in promoting sustainable economic development and, indeed, helping to achieve economic recovery.

SOCs are crucial to generate resources that can help solve the challenges of unemployment and poverty.

Managed correctly an SOC is a useful tool to create growth improve service delivery and create employment.

However, if the state needs to bail out failing SOCs, such actions are bound to have negative social effects as resources are diverted away from critical public services such as education, health, and housing.

30 Years of unqualified audits

Casidra is an ethical institution with a good track record of 30 consecutive Unqualified Financial Audit Reports since its establishment in 1989.

Our mission remains steadfast: to always act in a transparent manner in everything we do and particularly with tenders.

Casidra will issue, evaluate and award approximately 300 tenders on an annual basis, and abiding by legal and transparent processes are of utmost importance to us.

Integrity and professionalism are our key values, as we act in an ethical manner with trust, honesty, reliability and credibility as well as deliver excellent work with a positive attitude by well-skilled people using best practice in a business-like approach.

Casidra’s track record in this regard has contributed to our reputation and relationships within the Western Cape Government sector.

We are the Catalyst for Growth towards Self-sustainable communities.

SOC Supervision, Governance and Administration Conference 2019

Casidra SOC Ltd Chief Financial Officer, Freek van Zyl, is a guest speaker at this year’s State-Owned Enterprise Supervision, Governance and Administration Conference 2019.

The conference takes place from 13-14 November in Cape Town, and the theme is: Governance: The key to success of State-Owned Enterprises.

Freek van Zyl holds Hons. B. Compt, CTA and CA (SA) and has been with Casidra since 1994 and heads up the Finance and IT Team and also serves as a Company Secretary.

He is also the Chairperson of the Multikor Pension and Provident fund and his extensive experience and dedication in finance and auditing sector has enabled Casidra to achieve its 30 Years of Unqualified Audit.

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