Davies hails clean audits as a sign of good governance
The Department of Trade and Industry (dti) is leading by example when it comes to good governance and administration, says Minister Rob Davies.
The department has achieved a clean audit from the auditor-general in the 2017/2018 financial year. The latest audit report shows an increase in clean audits for the department's portfolio, from 60% in the 2016/17 financial year to 78% in 2017/18.
"The clean audit is an indication that the department is committed to good governance and clean administration that will lead to better service delivery to the department’s stakeholders, investors and aspiring entrepreneurs," the trade minister said in a statement.
He attributed the clean audit to compliance with relevant laws and regulations, leading by example, ethical leadership, accurate reporting and curbing wasteful expenditure.
Clean audits in most agencies
The 2017/18 financial year marked the turning of the tide, with the National Consumer Commission gaining a spot in the clean-audit ranking list.
Agencies of the dti that achieved clean audit status also include the Companies Tribunal, National Consumer Tribunal, National Gambling Board, National Credit Regulator and the Companies and Intellectual Property Commission.
"The dti achieved zero irregular expenditure in respect of supply chain management laws and regulations as well as no fruitless and wasteful expenditure in the past two financial years. The dti continues to lead on the 30-days payment front by paying all creditors on time," said Davies.
In the 2017/18 financial year, the department approved financial support for 848 enterprises or projects under its incentive programmes. The flagship black industrialists programme has supported 50 black industrialists in the current financial year, bringing the cumulative number in excess of 100.
On the industrial development front, exports have doubled in the 10-year period, which saw R45bn invested in the country by some of the world’s leading global vehicle manufacturers.