https://newsletter.en.creamermedia.com
Eskom|Financial|Transnet
Eskom|Financial|Transnet
eskom|financial|transnet

Irregular spend of national, provincial government, SOEs up to R51bn and counting

Auditor-General Kimi Makwetu

Auditor-General Kimi Makwetu

21st November 2018

By: African News Agency

  

Font size: - +

Irregular expenditure for national and provincial government departments, as well as State-owned entities audited by the Auditor-General amounted to R51-billion and counting, it was revealed on Wednesday.

Releasing the audit results for the 2017/18 financial year, Auditor-General Kimi Makwetu said the R51-billion excludes the irregular spending incurred by two of the country's most important State-owned companies - Transnet and Eskom - who combined incurred spending not in compliance with laws governing public finances - of R28.4-billion. Transnet and Eskom have private companies auditing their financials.

The number could rise dramatically as 27 percent of the auditees indicated they had incurred irregular expenditure but that the full amount was not known.

Fruitless and wasteful spending, noted Makwetu, had "another big jump" of 200 percent compared to the 2016/17 financial year, and is currently sitting at R2.5-billion.

"This is an avoidable type of expenditure that we find is now starting to increase," said Makwetu.

 

Edited by African News Agency

Comments

Showroom

Alcohol Breathalysers
Alcohol Breathalysers

Supplier & Distributor of the Widest Range of Accurate & Easy-to-Use Alcohol Breathalysers

VISIT SHOWROOM 
BOVA Safety Wear
BOVA Safety Wear

BOVA cemented their reputation in Africa by delivering high quality engineering through their range of safety footwear. 21 years after producing...

VISIT SHOWROOM 

Latest Multimedia

sponsored by

Photo of Martin Creamer
On-The-Air (15/11/2024)
15th November 2024 By: Martin Creamer

Option 1 (equivalent of R125 a month):

Receive a weekly copy of Creamer Media's Engineering News & Mining Weekly magazine
(print copy for those in South Africa and e-magazine for those outside of South Africa)
Receive daily email newsletters
Access to full search results
Access archive of magazine back copies
Access to Projects in Progress
Access to ONE Research Report of your choice in PDF format

Option 2 (equivalent of R375 a month):

All benefits from Option 1
PLUS
Access to Creamer Media's Research Channel Africa for ALL Research Reports, in PDF format, on various industrial and mining sectors including Electricity; Water; Energy Transition; Hydrogen; Roads, Rail and Ports; Coal; Gold; Platinum; Battery Metals; etc.

Already a subscriber?

Forgotten your password?

MAGAZINE & ONLINE

SUBSCRIBE

RESEARCH CHANNEL AFRICA

SUBSCRIBE

CORPORATE PACKAGES

CLICK FOR A QUOTATION







sq:0.137 0.24s - 212pq - 2rq
Subscribe Now