Denel confident its financial position is improving
The company is grappling with extensive disclaimers of audit opinion, including inadequate records
06 December 2019 - 14:02
Arms-maker Denel said on Friday it was confident that its liquidity levels were improving, as it battles with severe problems in its record-keeping.
The company lost R1.7bn in its year to end-March, when it received numerous disclaimers, with the Auditor-General of SA saying the company had incorrectly applied accounting standards, and couldn't back up numerous line items, including inventory and operating expenditure...
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