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CAS1501 Assignment 6 2024
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CAS1501 Assignment 6 Due 28 May 2024
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CAS1501ASSIGNMENT 6 2024
UNIQUE CODE: 727398
DUE DATE: 28 MAY 2024
, CAS1501
ASSIGNMENT 6 2024
B1.1.1 Using the CASE STUDY, COPY the FULL NAME of the
bank as mentioned in the text (not the headline) of the
article.
VBS Mutual Bank
B1.1.2 From the CASE STUDY, in one full sentence summarise fully what
happened to the bank in 2018.
Case study:
In 2018, VBS Mutual Bank faced insolvency and bankruptcy, resulting in
approximately R2 billion being defrauded from South African citizens and
taxpayers. Subsequently, the bank was placed under curatorship.
B1.1.3 From the CASE STUDY, in one sentence summarise what was the
wider consequence to others mentioned in the article have been following
what had happened to the bank in 2018.
The broader impact highlighted in the article has led to the significant
impoverishment of its depositors, while benefiting its senior managers,
politicians, and certain board members.
B1.2.1 Using the CASE STUDY, give the name and surname of the
individual that the article reports on.
Dumisani Tshuma
B1.2.2 Using the case studygive the name and surname of the coaccused
of the individual in B1.2.1
Sipho Malaba
, B1.2.3 Using the case study, in one or two full sentences, describe the
PROFESSIONAL connection between the individual in B1.2.1
Dumisani Tshuma and Sipho Malaba both worked for KPMG, with Malaba being
a member of the VBS audit team and the engagement partner, and Tshuma
being his partner.
B1.2.4 Using the case studydescribe the TWO roles of the individualin
B1.2.2 at the bank
The two roles of Sipho Malaba at VBS were as a member of the VBS
audit team and as the engagement partner at the bank.
B1.2.5 Considering your answer in B1.2.4 and the content of Study unit
2.4.2.11, in one full sentence, describe the FIRST key role of the
individual in
B1.2.2.
The FIRST key role of Sipho Malaba at VBS as a member of the VBS audit
team was to perform independent external audits on the annual financial
statements of the entity.
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