The Special Investigating Unit (SIU) says it’s hitting all its targets in the fight against corruption within the State.
Despite having regressed from clean audits over the past six years – the anti-corruption body says in the year under review – it’s prevented over R2 billion in losses to the State.
It’s also recovered almost R400 million in cash and assets from dodgy dealings.
With almost R750 million in cash in the bank – the SIU is breaking the trend of reporting bad financial outcomes to Parliament.
During the 2022/23 financial year, it had R300 million in dubious contracts set aside.
SIU head Andy Mothibi says irregular contracts worth R2.4 billion are currently before the courts.
“We are continuing to see an overshoot in terms of performance and that is attributable to the skills we have brought at SIU, and the committed staff members of the SIU.”
However, one blight on its financial statements is its qualified audit finding on an accounting technicality.
This follows the understating of its revenue by almost R13 million for the recovery of legal fees.
Mothibi says he doesn’t want to run the risk of tabling late financial statements to fix the error.
“We really, really take the outcome of the audit very seriously because we have to be exemplary in ensuring we keep the clean audit.”
Thirty-two companies have been earmarked for blacklisting in this financial year because of investigations carried out by the SIU.
Furthermore, some of their directors could also be facing legal consequences.
-EWN
In other news – Kelly Khumalo causes a scene on stage
Well-known South African singer, Kelly Khumalo reportedly caused a stir at a show over the past weekend. According to ZiMoja, the singer wasn’t pleased with the sound quality at the Lemo Festival, hence she interrupted her band and demanded that the technical crew fix the problem.
“She is talented that is one thing you can’t take from her. The crowd came to a standstill and sang along,” the source disclosed. Read More
