By Thapelo Molefe
Eskom’s financial mismanagement and governance failures once again came under scrutiny as the Standing Committee on Public Accounts was briefed by the Auditor-General on Tuesday on its audit outcomes for the 2023/24 financial year.
The audit revealed persistent weaknesses, leading to Eskom receiving a qualified audit opinion with findings, a trend that has continued for several years.
Eskom’s financial statements for the period ending March 2024 were found to contain material misstatements, particularly in areas such as irregular expenditure, fruitless and wasteful expenditure, and losses due to criminal conduct.
The audit highlighted that these deficiencies remain largely unaddressed by Eskom’s leadership, despite repeated commitments to improve internal controls.
The report revealed that irregular expenditure stood at R4.15 billion, a decrease from R5.93 billion in 2022/23, yet still a significant amount. Fruitless and wasteful expenditure was recorded at R1 million, showing a notable reduction from the R43 million
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