The Auditor-General’s damning audit opinion on SAA Group AFS identifies incompetent directors and everything the previous external auditors missed.
The Auditor General, Thembekile Makwetu, recently released his audit opinions on the financial statements of SAA and Mango for the year ending 31 March 2017 and they suggest delinquent conduct on the part of the directors and provide further evidence to support the Independent Regulatory Board for Auditors’ (IRBA) proposals for auditor rotation.
Makwetu’s qualified audit opinions warrant closer analysis, especially when juxtaposed with the consistently “clean” audit opinions supplied by large international audit firms for the same SoEs. It must be asked whether the AG and his team possess unique talent, allowing the AG to unearth…
