The National Treasury has decided withdraw the exemption granted to Eskom from reporting irregular, wasteful and fruitless expenditure in its annual financial statements.
Finance Minister Enoch Godongwana confirmed the decision in a joint meeting to Parliament on Wednesday.
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Godongwana had gazetted the move last Friday, which would have not obliged Eskom to disclose its expenditure as per the Public Finance Management Act (PFMA).
The Act requires that state-owned enterprises (SOEs) provide particulars in their annual financial statements and annual reports of “any material losses through criminal conduct and any irregular expenditure and fruitless and wasteful expenditure that occurred during the financial year.”
This is a developing story
