Treasury broke its own rules - racked up R770m in irregular expenditure

Treasury broke its own rules - racked up R770m in irregular expenditure

- The National Treasury failed to follow proper procedures and accumulated about R770 million in irregular spending

- Another R67 million was paid for services and goods never received

- Auditor-General Kimi Makwetu made this reveal after looking at financial records of the Treasury

PAY ATTENTION: Click "See First" under the "Following" tab to see Briefly news on your News Feed!

Auditor-General Kimi Makwetu revealed that the National Treasury failed to stick to its own policies and rules.

The Treasury wasted nearly R770 million in irregular spending. In addition, R67 million were paid for services and goods that was never delivered.

Makwetu investigated the Treasury's financial statements for 2017-2018 and found that there were contracts given to suppliers who did not declare their tax to SARS.

PAY ATTENTION: Save mobile data with FreeBasics: Briefly is now available on the app

Other contracts were awarded to bidders who did not deserve it compared to bidders that were turned down.

The Treasury did not adhere to the Preferential Procurement Regulations and the Preferential Procurement Policy Framework Act.

Furthermore, Makwetu found that Treasury did not properly approve its expenditure or follow the right tender processes and this led to the irregular spending of R768.9 million.

The Treasury didn't respond to questions from the media, according to a report by MSN.

READ ALSO: DA wants to criminally charge alleged #VBS beneficiaries and looters

Do you have news that might interest us? Message us on our Facebook page and we could feature your story.

Watch the silly Kim Kardashian And Donald Trump: What Unites Them? video and head over to Briefly South Africa's YouTube channel for more awesome videos.

To stay up to date with the latest news, download our news app on Google Play or iTunes today.

Source: Briefly.co.za

Related news
SARS IT chief apologise for 'arrogance, nonchalance, and unprofessionalism'

SARS IT chief apologise for 'arrogance, nonchalance, and unprofessionalism'

SARS IT chief apologise for 'arrogance, nonchalance, and unprofessionalism'
Briefly.co.za
Mailfire view pixel