Carolissen was leading a NSFAS delegation to account to the committee for the 2018/19 financial year. The auditor-general gave the scheme a qualified audit for the year under review.
In his report, the auditor-general noted that the irregular expenditure at NSFAS was not complete, as management was still in the process of quantifying its full extent. Reasons for the qualified opinion included that the auditor-general could not confirm the correctness of transactions due to institutions to the tune of R1.25bn. The AG could also not obtain sufficient appropriate audit evidence for bursary expenditure paid outside of the entity's normal disbursement process. The total bursary expenditure was R24.6bn for the year.
In some cases, students would be contracted for “ridiculously low” amounts like R5, R10 or R1,000, but NSFAS would make the correct payment. However, because the payment differed with the contracted amount, it becomes an irregular payment according to the Public Finance Management Act.
South Africa Latest News, South Africa Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
Source: News24 - 🏆 4. / 80 Read more »
NSFAS identifies extensive fraud in the Western CapeThe student aid scheme tells parliament criminals have hijacked its mobile phone payment system
Source: BDliveSA - 🏆 12. / 63 Read more »
NSFAS identifies extensive fraud in the Western CapeThe student aid scheme tells parliament criminals have hijacked its mobile phone payment system
Source: BDliveSA - 🏆 12. / 63 Read more »
Source: SABC News Online - 🏆 32. / 51 Read more »
Source: ewnupdates - 🏆 30. / 53 Read more »
Source: News24 - 🏆 4. / 80 Read more »