Highlanders Football Club (Bosso) was reportedly lost over $265 000 to their club manager Bonisani Mafela who is reportedly failing to account for the money after an audit, the Chronicle reports.
According to the publication, Highlanders engaged auditors PN and A Chartered Accountants who counted the cash and discovered it was understated by ZWL $265 543.
Presenting the club’s 2020 Financials, Bosso Treasurer Donald Ndebele shed light on the incident and said:
As at 31 December 2020, PN and A Chartered Accountants, (Ralph Bomment Greenaccre and Reynolds), conducted a stock count and a cash count at Highlanders Football Club. During the audit, it was noted that end of year cash count conducted independently by PN and A Chartered Accountants (Z) was understated by ZWL265 543 compared to the daily cash counts conducted by (the) manager.
Management has since the year end cash count conducted an investigation, which resulted in the club house manager signing an acknowledgement of debt in admission of variance obtained and with guidance from the legal counsel management have opted to recover these funds
. If management had carried out independent daily cash counts during the year the variance would have been detected earlier and the loss would have been averted.
Ndebele said Mafela has signed a debt acknowledgement agreement that states that he will repay the debt by giving the club US$400 every month for 6 months. The matter came to light at the club’s AGM that was held at Highlanders’ Sports Club yesterday.