Transnet reports R49bn in irregular expenditure | IOL Business Report

JOHANNESBURG - Irregular expenditure continues plague Transnet as the State-owned freight and rail company received a qualified external audit opinion for the year ending 31 March due to its failure to adhere to prescribed procurement regulations.

Transnet on Monday reported R49 billion in irregular expenditure due to irregular locomotive contracts. Audit firm SizweNtalubaGobodo is Transnet’s external auditors. Last year, Transnet reported R8 billion in irregular expenditure in the year to March 2018 and a qualified audit opinion due to lack of implementation of controls.

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