Transnet has hired professional services firms Deloitte and EY as it moves away from a fully outsourced internal audit service, saying that 40% of its internal auditing functions will now be carried out in-house Moneyweb InternalAudit NtandoThukwana
State-owned ports and rail network operator Transnet has hired professional services firms Deloitte and EY as it moves away from a fully outsourced internal audit service, saying that 40% of its internal auditing functions will now be carried out in-house. The embattled company said the split is part of its efforts to improve governance and internal controls.
Lwazi Bam appointed to the Woolworths board Transnet said the services will be split into two, with the first focused on assurance and related services, which will be handled by Deloitte and EY and their respective empowerment partners. The second part will look at proactive assurance on high-value, awarded to Deloitte and its empowerment partners. “Transnet will also work with its new internal audit partners to help rebuild its capacity in training of audit professionals,” the group added.
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