Armscor gets clean audit

2013-10-14 16:51

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Auditor-General (AG) Terence Nombembe has given arms-procurement parastatal Armscor a clean audit opinion for the past financial year.

“In delivering on its mandate, Armscor adhered to accepted principles of corporate governance and lawfulness,” acting CEO Sipho Mkwanazi said in a statement today.

“I am therefore pleased to announce that, once again, Armscor has received a clean audit for the year under review.”

Mkwanazi presented Armscor’s annual report for the 2012/13 financial year to Parliament’s defence and military veterans portfolio committee last week.

He said there were no deficiencies in Armscor’s internal controls and it was satisfied with its overall performance.

There was also no noncompliance with the laws and regulations identified by the AG, and Armscor continued to subscribe to the principles of good governance.

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