Transnet implements lifestyle audits
State-owned Transnet has instituted a process of lifestyle audits for its employees, as part of its efforts to ensure high standards of ethics and integrity.
Senior management, including executive management, are the first category of employees to undergo the initial phase of the audit.
This is one of a number of initiatives to rebuild trust within the company and between itself and the public.
It is intended as an additional governance tool to improve transparency and prevent conflicts of interest.
The audit is aligned to directives issues by the government on security checks for employees in government departments and State-owned entities.
Employees are required to submit forms declaring, besides others, their assets, credit history as well as those of their immediate family member/s, and a declaration of their interests.
This will allow Transnet to assess whether an employee’s lifestyle is in line with their known income. The process aims to ensure that all necessary declarations and recusals are in place when related entities do business with Transnet.
The company notes that the response has been overwhelmingly positive thus far, with more than 90% of employees having submitted themselves to the process.
The process is independent and confidential.
In instances where discrepancies are identified, individuals will be given an opportunity to provide additional information or clarification before any further action is taken.
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