The Auditor General Kimi Makwetu has reported that R80 Billion has been lost to wasteful and irregular expenditure for the 2018 financial period alone.
Briefly.co.za reported earlier on some of the findings of a report undertaken by Auditor General Kimi Makwetu, depicting a bleak picture of the finances of state-owned entities.
Makwetu revealed that the government has racked up an astonishing R80 Billion in irregular and wasteful expenditure for the 2018 financial year alone.
The audit outcomes for the National and Provincial departments showed an overall decline from the 2017 financial year.
Lack of accountability and poor decision making have been blamed with leadership failing to swiftly correct any wrongdoing for those guilty of transgressions.
“Fruitless and wasteful expenditure increased by over 200% from the previous year to R2.5 billion. Irregular expenditure continued to remain high at R51 billion. This total includes the irregular expenditure of those auditees where the AGSA had completed the audits after the cut-off date of this report (R5.4 billion).” said the report.
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