https://www.engineeringnews.co.za

Irregular spend of national, provincial government, SOEs up to R51bn and counting

Auditor-General Kimi Makwetu

Auditor-General Kimi Makwetu

21st November 2018

By: African News Agency

  

Font size: - +

Irregular expenditure for national and provincial government departments, as well as State-owned entities audited by the Auditor-General amounted to R51-billion and counting, it was revealed on Wednesday.

Releasing the audit results for the 2017/18 financial year, Auditor-General Kimi Makwetu said the R51-billion excludes the irregular spending incurred by two of the country's most important State-owned companies - Transnet and Eskom - who combined incurred spending not in compliance with laws governing public finances - of R28.4-billion. Transnet and Eskom have private companies auditing their financials.

The number could rise dramatically as 27 percent of the auditees indicated they had incurred irregular expenditure but that the full amount was not known.

Fruitless and wasteful spending, noted Makwetu, had "another big jump" of 200 percent compared to the 2016/17 financial year, and is currently sitting at R2.5-billion.

"This is an avoidable type of expenditure that we find is now starting to increase," said Makwetu.

 

Edited by African News Agency

Article Enquiry

Email Article

Save Article

Feedback

To advertise email advertising@creamermedia.co.za or click here

Showroom

Rosond
Rosond

ROSOND provides fast, efficient, safe, and cost-effective drilling and grouting services to mining and exploration industries throughout Africa.

VISIT SHOWROOM 
AirNox Pty Ltd
AirNox Pty Ltd

AirNox (Pty) Ltd is a level 1 BBBEE manufacturer of complete AdBlue® solutions for operators of SCR diesel engines and AUS40 across South Africa...

VISIT SHOWROOM 

Latest Multimedia

sponsored by

Option 1 (equivalent of R125 a month):

Receive a weekly copy of Creamer Media's Engineering News & Mining Weekly magazine
(print copy for those in South Africa and e-magazine for those outside of South Africa)
Receive daily email newsletters
Access to full search results
Access archive of magazine back copies
Access to Projects in Progress
Access to ONE Research Report of your choice in PDF format

Option 2 (equivalent of R375 a month):

All benefits from Option 1
PLUS
Access to Creamer Media's Research Channel Africa for ALL Research Reports, in PDF format, on various industrial and mining sectors including Electricity; Water; Energy Transition; Hydrogen; Roads, Rail and Ports; Coal; Gold; Platinum; Battery Metals; etc.

Already a subscriber?

Forgotten your password?

MAGAZINE & ONLINE

SUBSCRIBE

RESEARCH CHANNEL AFRICA

SUBSCRIBE

CORPORATE PACKAGES

CLICK FOR A QUOTATION







301

sq:0.078 0.998s - 145pq - 2rq
Subscribe Now