DA's Mazzone lays charges against SOE accounting bosses | Fin24
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DA's Mazzone lays charges against SOE accounting bosses

Oct 17 2018 21:01
Khulekani Magubane

Democratic Alliance Member of Parliament Natasha Mazzone has laid charges against the accounting officers of four state-owned entities for failure to release their financial statements on time as required by the Public Finance Management Act.

The entities in question are South African Airways, SA Express, the South African Forestry Companies Limited and Denel. Minister of Public Enterprises Pravin Gordhan has said in written replies to Parliament that some of these entities have battled with timeous submissions.

Section 55 (1)(d) of the Public Finance Management Act states that annual reports and financial statements must be submitted by accounting officers within five months of the end of the financial year to the responsible minister.

In a statement, Mazzone said delays in the release of financial statements had a severe impact investor confidence. She said this had the potential to hamper the future growth and ambitions of affected entities.

"The accounting authorities of these SOEs have possibly violated the PFMA through their apparent failure to comply with Section 55 and must therefore be held liable if found guilty, according to section 86 of the PFMA," said Mazzone.



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