SAA reluctantly published their audited 2016/2017 annual report in April 2018, as they were winding up the 2017/2018 financial year. The Auditor-General (AG) delivered a damning qualified report, and indicated that “a material uncertainty exists that may cast significant doubt on the company’s ability to continue as a going concern”.
It is perturbing that the 2016/17 annual report was only released in April 2018, even though it had been finalised and signed off on December 8 2017 by the AG. Minister Malusi Gigaba (then Minister of Finance), requested Parliament to approve the delay in filing the report, citing “technical accounting matters” which had not been resolved. Really?
In my view, in a climate of no corporate governance, “technical accounting matters” cannot…
