Our debt-to-GDP ratio is growing, we're running a problematic current account deficit, state-owned companies are a drag on the economy and our bloated public service wage bill needs to be trimmed. We're running out of money, and fast.
The Auditor General has been given more teeth, and should be allowed to use them, Parliament’s Standing Committee on Public Accounts and the Standing Committee on the Auditor General have said.
Audit outcomes for municipalities have continued to regress, with irregular and fruitless and wasteful expenditure each ballooning more than 70% for the 2016/17 year.
In a report submitted to Parliament, Auditor General Kimi Makwetu has flagged SAA's ability to continue as an ongoing concern.
The Auditor General's latest local government report showed that 49 municipalities received clean audits, however 25 received disclaimed opinions.
Of the 10 major public entities audited by the Auditor General South Africa, only one received a clean audit opinion.
Three provinces did not improve their audit outcomes in the past three years, according to the recent audit report.
Government entities have racked up over R2bn in wasteful expenditure and R26.4bn in irregular spending in the past year, says Auditor General Thembekile Makwetu.
The Standing Committee on the Auditor General has approved amendments to the Public Audit Act, giving the Auditor General of South Africa more power to manage "real and immediate" consequences.
The current head of KPMG's largest business unit has been suspended. He was also the lead audit partner on VBS Bank.
State-owned arms manufacturer Denel has hit back at claims that it tabled an incorrect annual report despite being told that the initial audit opinion had been amended.
Introducing control measures for the supply chain management by public entities could help reduce irregular and fruitless and wasteful expenditure.
The loss-making Post Office is one of two public entities which received a qualified audit opinion for the year 2015/16.
Irregular expenditure by government departments and public entities has soared by nearly 40% over the past three years, the auditor general has revealed.
Public Protector Thuli Madonsela says internal auditors should be less like policemen and be the conscience of their organisations.
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