TOP STORY - Eskom exempted from reporting expense irregularities in financial statements
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GUEST – Wayne Duvenage – CEO of Organisation Undoing Tax Abuse (Outa)
Financially distressed power utility Eskom has been exempted from having to disclose irregular and fruitless expenditure in its annual financial statements until 2025. The surprise exemption was made in terms of Section 55 (2) (b) (i) of the Public Finance Management Act (PFMA) of 1999 and Treasury Regulation 28.2.1 of section 76 of the Act and published in the Government Gazette on Friday (31 March 2023) by Minister of Finance Enoch Godongwana. The exemption is applicable to Eskom’s 2022/23, 2023/24 and 2024/25 financial years but the notice did not provide any explanation for the exemption. National Treasury’s special exemption for Eskom follows the release of the utility’s 2022/23 interim financial results
Financially distressed power utility Eskom has been exempted from having to disclose irregular and fruitless expenditure in its annual financial statements until 2025. The surprise exemption was made in terms of Section 55 (2) (b) (i) of the Public Finance Management Act (PFMA) of 1999 and Treasury Regulation 28.2.1 of section 76 of the Act and published in the Government Gazette on Friday (31 March 2023) by Minister of Finance Enoch Godongwana. The exemption is applicable to Eskom’s 2022/23, 2023/24 and 2024/25 financial years but the notice did not provide any explanation for the exemption. National Treasury’s special exemption for Eskom follows the release of the utility’s 2022/23 interim financial results
