Road Accident Fund hits out at auditor-general’s disclaimer
RAF argues that it isn’t an insurance company and that the audit opinion is incorrectly based on those accounting standards
07 September 2022 - 19:08
The Road Accident Fund (RAF) has hit out at the auditor-general for issuing a disclaimer on its latest financial statements, saying the audit opinion was based on incorrect accounting standards.
A disclaimer is the worst possible audit outcome and signifies that a company’s accounts cannot be relied on and often indicates that the organisation is in serious financial trouble and poorly managed...
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