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Denel unqualified audit questioned

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Cape Town - How can it be that the auditor general (AG) gave Denel a clean bill of health, although the state-owned entity did not comply with crucial sections of the Public Finance Management Act? 

Natasha Mazzone, the DA’s shadow minister on public enterprises, posed this question to the AG’s office on Tuesday during a briefing in which the entity gave feedback on the audit outcomes of the Department of Public Enterprises.

In its 2015/16 annual report, Denel received a clean audit opinion from the AG with no qualifications or findings.  However, in February this year, National Treasury red-flagged Denel for being in contravention of the Public Finance Management Act (PFMA) when Denel entered into a joint venture with a company VR Laser Asia

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