Inside Politics Reporter
Auditor-General Tsakani Maluleke said the lack of adequate record-keeping and the loss of finance staff during the business rescue process have contributed significantly to the material limitations of scope and have affected the credibility of the SAA’s financial statements.
The Auditor-General of South Africa (AG) appeared on Friday before the Portfolio Committee on Public Enterprises to brief the committee on the South African Airways’ (SAA) audit outcomes for the financial periods ending 31 March 2019, 31 March 2020, 31 March 2021, and 31 March 2022.
SAA’s financial statements submitted for audit over those financial years each received a disclaimer due to material misstatements and limitations in obtaining sufficient and appropriate audit evidence, she said.
The AG outlined the financial difficulties and operational challenges facing the SAA, including the impact of the business rescue process, the injection of government funds, and the ongoing process of appointing a strategic
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