Latest News & Developments
financial statement
Tshwane deputy mayor's family ties to R300m security contract spark investigation
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.
Eskom reports a R55 billion loss but Ramokgopa lauds the progress
The utility also said it lost R22 billion due to load shedding and R23 billion due to electricity theft.
The FSCA's defiance: A legal standoff over Banxso's frozen funds
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.
Few parties disclosed funders to IEC
The IEC said 12 parties disclosed their funders during the year under review.
Auditor-General warns about delays by municipalities to submit financial statements
The Auditor-General has warned of delays by municipalities to submit their financial statements.
Your financial and investment questions answered
PSG answers questions on finances and investments.
Auditor-General makes damning findings against NSFAS
The Auditor-General said they found a number of material misstatements in the financial statements of the National Student Financial Aid Scheme.
Auditor-General warns against R5. 2 billion lost in municipalities
Auditor-General Tsakani Maluleke said material irregularities in municipalities were R5. 2 billion and this number does not include all municipalities.
Parliament sets aside R6. 5 million for Sona 2024
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.
Auditor-General denies delays in releasing report on Ekurhuleni’s finances
The Auditor-General said she completed the audit of Ekurhuleni on time.
Auditor-General raises red flags on Prasa finances
The Auditor-General said there was no evidence that action was taken against officials implicated in irregular expenditure.
Gordhan believes SOE Bill will fix ailing entities
Minister of Public Enterprises Pravin Gordhan said measures were being taken to address challenges faced by state-owned entities.
Godongwana says R19 billion loan from World Bank will help deal with energy crisis
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 more than R10 billion in two years
SAA suffered losses of R7. 6 billion in 2021, and it incurred another financial loss of R3. 6 billion last year.
Financial woes at SAA deepened as it suffered more losses
The financial position of SAA did not improve in 2020, as it suffered another loss of R5. 7 billion.
Auditor-General makes damning findings against SAA as it incurred loss of R6. 4 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.
Auditor-General raises alarm over shoddy work in infrastructure projects
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.
AG warns against 31 departments and entities for failing to submit financial statements
The Auditor-General said the law was very clear that financial statements of departments and entities must be submitted on time.
SA’s greylisting highlights the need for tighter monitoring and regulation to meet international standards
The international community keenly watches as South Africa faces the challenges of aligning with global standards to regain its financial credibility, says the writer.
Pension Plain: When death benefit buys an annuity, no lump tax is payable
When more money is invested, and thus more investment income can be earned in the future.
AG warns against ballooning medical claims
The Auditor-General said the government has not met its target of reducing medical from R70 billion to R18bn by next year.
Standard Bank denies fraudulent proofs of payment by EFF to AfriForum
Standard Bank said the matter related to an erroneous response by the bank to AfriForum.
Auditor-General urges Speaker to act against 17 municipalities that failed to submit financial statements
The Auditor-General said the municipalities were supposed to have submitted their financial statements by the end of August.
Nedbank HomeVision: save time and money now for those future home needs
Sweeten your home loan deal with Nedbank’s HomeVision.
Eskom, SAA miss deadline to submit financial statements in Parliament
Eskom, Denel and SAA said they could not submit their audited financial statements because of a number of reasons.