The Armaments Corporation of South Africa, much better known as Armscor, reported on Thursday that it had been awarded an unqualified audit by the Auditor-General of South Africa. Armscor is the acquisition agency for the country’s Department of Defence.
The audit was for the year ending March 31, 2021. This successful outcome was credited by Armscor CEO Advocate Solomzi Mbada to corporate governance processes that were “impeccable”.
“I particularly want to thank the board, executive management and all employees for their contribution and dedication towards the success of the Corporation and on the ethos that is evident at all levels of the business operations,” he said. “This clean audit success would not [have] been achieved during the reporting period without their valuable contribution.”
This was the latest in a series of years during which the agency had been awarded a clean audit. It was one of only a few State entities to receive a clean audit for the period concerned.
During the year ending March 31 this year, Armscor had reached and, in some cases, exceeded the targets it had set in its annual corporate plan. This was despite having to rely on older information technology (IT) systems, which reduced its efficiency. The agency was currently implementing various IT upgrade programmes to mitigate these problems.