Champagne and oysters – the SARS lifestyle audit

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Mulondi Nthulana | CFO | Value-Able Consulting | mail me |

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Apart from the fact that ambitious thefts and wild plot twists lend themselves to quality entertainment, the appeal of heist movies likely stems from the fact that watching skilful action is cathartic and we tend to live vicariously through our favourite big screen criminals. And one warning the heist leader always issues to his or her fellow crooks is to avoid spending their share of the loot too soon, lest they draw unnecessary attention to themselves.

Lifestyle audits are now common practice in South Africa, with the government even adopting audits for public-sector workers who appear to be benefiting unfairly from their ill-gotten loot related the rampant pandemic of fraud and corruption. Not reserved purely for politicians, the South African Revenue Service (SARS) has been employing lifestyle audits for private individuals since 2007 – to establish if an individual is living above his or her means illegally, and if that that lifestyle is being possibly funded through corrupt or fraudulent activities.

Lifestyle questionnaire

Traditional SARS audits only…

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Read the full article by Mulondi Nthulana, CFO, Value-Able Consulting, as well as a host of other topical management articles written by professionals, consultants and academics in the February/March 2022 edition of BusinessBrief.

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