At R175bn, govt's cumulative irregular spend now tops its annual budget for police and defence

2019-10-23 14:47

In the 2018/19 financial year, less than a quarter of audited government departments and public entities achieved clean audits.

Ex-KPMG partner in US gets prison sentence for fraud scheme

2019-09-11 22:22

KPMG’s former US national managing partner for audit quality and professional practice has been slapped with a prison sentence for defrauding an accounting regulator.

Tighten the leash on regressing SOEs, says Auditor General

2018-11-21 15:55

Departments responsible for state-owned entities must strengthen their oversight, Auditor General Kimi Makwetu said as he announced regressing audit outcomes.

AG slams Competition Commission over R128m in irregular expenditure

2018-09-25 21:24

Auditor General Kimi Makwetu has said the commission not only incurred millions in irregular expenditure but also exceeded its approved budget.

KPMG top exec suspended as new scandal threatens to engulf the audit firm

2018-04-11 16:17

The current head of KPMG's largest business unit has been suspended. He was also the lead audit partner on VBS Bank.

KPMG highlights need for reforms in sector - SARB

2017-11-10 08:58

The developments around audit firm KPMG following its implication in state capture has stressed the need to introduce reforms in the auditing and accounting professions, said Deputy Reserve Bank Governor Francois Groepe.

KPMG only fed us bits and pieces of information, regulator tells MPs

2017-10-03 11:42

The Independent Regulatory Board of Auditors says it is "likely" to investigate the conduct of the individual auditor who signed off on the forensic probe into the SARS 'rogue unit'.

Transformation at the heart of mandatory audit firm rotation

2017-02-19 08:30

Auditing board’s imperatives for greater independence are dismissed as being secondary to BEE, writes Steve Kretzman.

Nkosi questions city internal auditor’s suspension

2016-04-15 11:30

Suspended Msunduzi municipal manager Mxolisi Nkosi has finally broken his silence — not on his suspension — but rather that of his former colleague and the city’s chief internal auditor, Petrus Mahlaba.

Auditor warns city bosses

2015-12-22 12:41

Only one municipal business unit has increased their performance, with all the others underperforming for the last financial year.


SOE bailouts will increase budget deficit, lead to downgrades, warns Auditor General

2019-10-23 13:31

State-owned enterprises are increasingly relying on government guarantees to secure loans.

SA Express incurred over R1m in irregular expenditure through Bosasa contracts

2019-01-01 16:21

Two security contracts that state-owned airline SA Express had with Bosasa, now known as African Global Operations, resulted in over R1m of irregular expenditure.

AG slaps Nedlac with qualified audit

2018-10-02 13:47

Nedlac has been slapped with a qualified audit opinion in its annual report after incurring some R1m in irregular expenditure and not initially disclosing it in line with the PFMA, says the Auditor General.

KPMG promised transparency – then kept secret the suspension of its VBS audit partner

2018-04-16 06:01

For two weeks after it suspended partner Sipho Malaba for what it alleged was dishonesty, KPMG said nothing. Then it said nothing about the second partner it had also suspended.

KPMG SA, affiliates of Deloitte, BDO to pay penalties over audit work

2018-03-14 15:48

KPMG South Africa, KPMG Zimbabwe and foreign affiliates of accounting firms Deloitte & Touche and BDO have agreed to pay penalties for becoming involved in audit work that did not comply with US audit standards.

Big bucks for shoddy work

2017-11-05 06:00

Site visits to large infrastructure projects for the departments of basic education, water and sanitation, and public works revealed shocking work that had to be chalked up to irregular expenditure.

Probe fund managers, says curator

2017-09-03 06:00

A forensic audit must be conducted for all funds received and dispersed by a fund administrator, exposed by City Press for failing to account for more than R220m belonging to descendants of mine workers.

Suspended staff sour audit award

2016-06-30 11:34

After receiving an award for Msunduzi Municipality’s recent clean audit, the City management’s celebration was short-lived.

Internal Audit head booted

2016-04-11 12:58

AS investigators attached to various probes prepare to comb city hall to untangle the intricate web of accusations and counter accusations there, yet another high profile official has been suspended.

Msunduzi ecstatic after receiving clean audit

2015-12-01 10:36

Msunduzi Municipality finally received the clean audit they have long been waiting for and all parties are ecstatic at the news.

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