AG identifies material irregularities in government finances
Amendments to the Public Audit Act have proved effective, auditor-general says
08 March 2024 - 14:02
A loss of R14.34bn was accumulated by a sample of national and provincial departments between the 2018/19 and 2022/23 financial years due to material irregularities identified by the auditor-general.
A material irregularity is any noncompliance with, or contravention of, legislation, fraud, theft or a breach of a fiduciary duty identified during an audit that resulted in or is likely to result in a material financial loss, the misuse or loss of a material public resource or substantial harm to a public sector institution or the public. ..
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