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BDLive reports that the Department of Labour’s Compensation Fund, by its own admission, spent R1bn irregularly last year.
However, the auditor-general was not able to confirm this figure, "as the entity did not maintain proper records and adequate systems of internal control". The fund, which provides compensation in respect of work-related injuries and diseases, also notched up R404m (from R17m the previous year) in fruitless and wasteful expenditure, mainly due to breach of contract with a debt collector who obtained an order of court. The auditor-general had to issue a disclaimer on the fund’s financial statements for 2015-16 as there was insufficient appropriate audit evidence to form an audit opinion. The fund, which is financed by contributions from employers, collected R7.6bn last year and earned R360m on its investments.
- Read this report by Linda Ensor in full at BDLive
Get other news reports at the SA Labour News home page