Eskom on Monday welcomed the National Treasury's exemption on the annual reporting of irregular, fruitless and wasteful expenses, saying it will abide to by the conditions and monitoring requirements.
Finance minister Enoch Godongwana has exempted Eskom from having to disclose irregular, fruitless or wasteful expenditure in its annual financial reports for the next three years.Eskom on Monday welcomed the National Treasury's exemption on the annual reporting of irregular, fruitless and wasteful expenses, saying it will abide by the conditions and monitoring requirements.
“PFMA compliance remains a priority as Eskom continues to address irregular, fruitless and wasteful expenditure, including appropriate consequence management proceedings. This exemption will assist in the dialogue with credit ratings agencies, the lender community and key stakeholders. Eskom said with the exemption, irregular, fruitless, and wasteful expenses will be reported in Eskom’s annual report, as opposed to its annual financial statements.It will respect and co-operate with supervisory authorities, including the minister of public enterprises as its executive authority, the Treasury, the auditor-general, parliament and other relevant ministries
The utility said it has made positive strides in the past three financial years to establish systems, procedures, checks and balances designed to reduce the extent and risk of fraud, corruption and irregular expenditure.
South Africa Latest News, South Africa Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
Treasury to explain move to exempt Eskom from declaring irregular expenditureThe decision is already receiving some backlash, with the EFF saying that Finance Minister Enoch Godongwana and National Treasury were operating like the mafia to shield Eskom from accountability.
Read more »
Treasury under fire for Eskom exemptionFinance Minister Enoch Godongwana has come under fire from energy experts, trade unions and opposition political parties for his decision to exempt Eskom from reporting its irregular expenditure.
Read more »
Sars revenue collection an amazing feat, says National Treasury | City PressThe SA Revenue Service has exceeded the 2022 revenue collection by R123 billion after collecting a net revenue of R1.687 trillion in the financial year ended March 2023. Gross-tax revenue collected exceeded R2 trillion for the first time after gross revenue rose to R 2.068 trillion over the same period.
Read more »
ECONOMIC WEEK AHEAD: Annual tax collections in the spotlightSars and Treasury to announce tax collected for the 2022/23 financial year on Monday
Read more »