Latest News & Developments
Tshwane's Deputy Mayor Eugene Modise is under scrutiny as allegations of a conflict of interest emerge, linked to a security tender awarded to a company associated with his family.
The utility also said it lost R22 billion due to load shedding and R23 billion due to electricity theft.
Despite the Western Cape High Court's lifting of a preservation order on Banxso's accounts, the FSCA steadfastly refuses to authorise the release of these funds.
The IEC said 12 parties disclosed their funders during the year under review.
The Auditor-General has warned of delays by municipalities to submit their financial statements.
PSG answers questions on finances and investments.
The Auditor-General said they found a number of material misstatements in the financial statements of the National Student Financial Aid Scheme.
Auditor-General Tsakani Maluleke said material irregularities in municipalities were R5. 2 billion and this number does not include all municipalities.
Secretary to Parliament Xolile George said the R6. 5 million allocated for the State of the Nation Address is an increase from R5m that was allocated last year.
The Auditor-General said she completed the audit of Ekurhuleni on time.
The Auditor-General said there was no evidence that action was taken against officials implicated in irregular expenditure.
Minister of Public Enterprises Pravin Gordhan said measures were being taken to address challenges faced by state-owned entities.
Minister of Finance Enoch Godongwana said the repayment of the R19 billion loan from the World Bank loan will start in 2029.
SAA suffered losses of R7. 6 billion in 2021, and it incurred another financial loss of R3. 6 billion last year.
The financial position of SAA did not improve in 2020, as it suffered another loss of R5. 7 billion.
The Auditor-General has found that the books of SAA were in shambles due a lack of record keeping and the airline suffered a loss of R6. 4 billion.
The Auditor-General said in 82% of infrastructure projects they visited they found that the projects were either delayed or there were cost overruns and construction not completed.
The Auditor-General said the law was very clear that financial statements of departments and entities must be submitted on time.
The international community keenly watches as South Africa faces the challenges of aligning with global standards to regain its financial credibility, says the writer.
When more money is invested, and thus more investment income can be earned in the future.
The Auditor-General said the government has not met its target of reducing medical from R70 billion to R18bn by next year.
Standard Bank said the matter related to an erroneous response by the bank to AfriForum.
The Auditor-General said the municipalities were supposed to have submitted their financial statements by the end of August.
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Eskom, Denel and SAA said they could not submit their audited financial statements because of a number of reasons.