Woollam on Tongaat latest: Auditors must be more Bloodhound, less Labrador

In a superbly researched Financial Mail cover story this week, editor Rob Rose leads one to the obvious conclusion that Tongaat CEO Peter Staude bet the proverbial farm on a sugar price rebound. That aligns with the view of former banker Dave Woollam, a CA, who unpacked deficiencies that accumulated in the Tongaat accounts over a decade. Woollam returned to Rational Radio this week to update us on the latest at the embattled KZN business - and offer his insights on Lord Donald Brydon's UK commission of inquiry which is examining how the auditing profession needs to change. - Alec Hogg