Finance Minister Enoch Godongwana has rejected Eskom’s application for a partial exemption from the Public Finance Management Act and National Treasury regulations, which would have allowed it not to disclose irregular, fruitless and wasteful expenditure and material losses from criminal conduct in its annual financial statements.
Eskom latest: Irregular-spending exemption; power outages ease Duvenage added that while Outa acknowledges that it is more onerous for SOEs in their financial reporting, from a business perspective this is South Africans’ money and there needs to be extreme transparency and strong governance and oversight of fruitless and wasteful expenditure. “This is not a normal business where shareholders can pull out of the company’s investments. This is our [taxpayers] money.
Eskom’s Jan Oberholzer supports coal plant life-extension Yelland said the rationale for the exemption was fundamentally misguided and invalid because the attitude of financial institutions towards Eskom would be the same whether this information was published in Eskom’s annual financial statements or in a report to Parliament.
We have summarized this news so that you can read it quickly. If you are interested in the news, you can read the full text here. Read more:
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.
Eskom not granted partial exemption from disclosing irregular expenditure: Godongwana - SABC NewsFinance Minister Enoch Godongwana says Eskom will not be granted a partial exemption from disclosing irregular, fruitless and wasteful expenditure and material losses from criminal conduct in its annual financial statements.
Source: SABCNews - 🏆 37. / 51 Read more »
FINANCIAL REPORTING LAWS: Godongwana permanently sinks Eskom’s controversial exemptionThere was widespread criticism of Finance Minister Enoch Godongwana for signing a special Government Gazette on 31 March which would pave the way for Eskom to no longer disclose irregular, fruitless and wasteful expenditure over the next three years that did not arise from corruption.
Source: dailymaverick - 🏆 3. / 84 Read more »
Eskom denied exemption on annual reporting of wasteful expenditureEskom denied exemption on annual reporting of wasteful expenditure: Finance minister Enoch Godongwana has decided not to grant Eskom a partial exemption from disclosing irregular, fruitless and wasteful expenditure and material losses from criminal…
Source: SABreakingNews - 🏆 41. / 51 Read more »
Treasury denies Eskom exemption on disclosure of irregular expenditureIn April, Finance Minister Enoch Godongwana granted Eskom the request, but backtracked on the decision following public outcry.
Source: ewnupdates - 🏆 30. / 53 Read more »
Eskom denied exemption on annual reporting of wasteful expenditureFinance minister Enoch Godongwana has decided not to grant Eskom a partial exemption from disclosing irregular, fruitless and wasteful expenditure and material losses from criminal conduct in its annual financial statements.
Source: TimesLIVE - 🏆 28. / 59 Read more »
Kenya Govt Seeks Support of Finance Bill, Housing LevyKenya's parliament is set to deliberate on the controversial Finance Bill 2023 when it resumes its sittings this week. The bill proposes a 3% tax on employees that will be matched by employers. Deputy President Rigathi Gachagua has asked governors to support the Finance Bill as the tax measures will help raise revenue to fund counties, reports Capital FM. He added that the Kenya Kwanza administration has made a conscious decision not to borrow money to pay salaries, opting for locally collected taxes for that purpose. The controversial bill which has undergone public scrutiny, has set off a political storm in the country due to the new tax proposals. The opposition Azimio coalition led by former presidential candidate Raila Odinga, has claimed that the proposed tax measures by President Ruto are targetting Mt Kenya region. Meanwhile, President William Ruto has defended the contentious housing levy - part of the Finance Bill - which he says will assist in bridging the country's housing deficit. The president chastised politicians who he said "are out to demonize" an otherwise good agenda. He called for the housing programme to be separated from politics.
Source: allafrica - 🏆 1. / 99 Read more »