SAA’s just-in-time annual reports excludes a crucial element
SOUTH African Airways managed to table an abridged and provisional report on its 2014-15 financial statements in Parliament Thursday — shortly before the expiry of its deadline.The financial statements, however, do not include the critical report of the auditor-general, which will highlight any deficiencies in the financial management of the company.The board of SAA will be grilled by members of Parliament’s finance committee on Tuesday about the management of the airline.The hearing has had to be postponed several times pending the tabling of the 2014-15 results, which was delayed pending approval by Finance Minister Pravin Gordhan of yet another guarantee, this time of R4.7bn, which brings SAA’s total guarantee to R19bn.In a letter to National Assembly Speaker Baleka Mbete, Gordhan said the financial statements were provisional as the auditors had raised certain technical issues which had to be clarified with experts.Gordhan announced in the National Assembly on Tuesday that SAA h...
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