POLITICS LIVE: R46bn irregularly spent - a number that should cause national outrage
It's a staggering number: R46.36-billion. That's how much money was irregularly spent by government organisations in the 2015-16 financial year. The auditor general, Kimi Makwetu, reported that these entities simply failed to adhere to supply chain management guidelines. Here's another staggering number: only 30% of government entities audited received clean audits. It is not that difficult to achieve a clean audit. Here is the auditor general's definition: "The financial statements are free from material misstatements (in other words, a financially unqualified audit opinion) and there are no material findings on reporting on performance objectives or non-compliance with legislation." This is the sort of basic accounting practice that the local coffee shop employs to pay its taxes and keep its debtors from the door.
Would you like to comment on this article?
Sign up (it's quick and free) or sign in now.
Please read our Comment Policy before commenting.
Subscribe now to unlock this article.
Support BusinessLIVE’s award-winning journalism for R129 per month (digital access only).
There’s never been a more important time to support independent journalism in SA. Our subscription packages now offer an ad-free experience for readers.
Cancel anytime.
Questions? Email helpdesk@businesslive.co.za or call 0860 52 52 00. Got a subscription voucher? Redeem it now.