logo
Enoch Godongwana to highlight public financial management at SAI20 Summit

Enoch Godongwana to highlight public financial management at SAI20 Summit

IOL News6 hours ago

Finance Minister Enoch Godongwana is expected to deliver a keynote address at the SAI20 Summit.
Image: Phando Jikelo / GCIS
The Auditor-General of South Africa (AGSA), Tsakani Maluleke, will host a summit of supreme audit institutions (SAIs) of the G20 member countries, known as SAI20, on June 24-25, 2025, in Johannesburg.
The summit is an event that will pave the way for the upcoming Group of 20 (G20) Summit to take place later in the year, and will bring together auditors-general from G20 countries to discuss key issues related to transparency and accountability in public financial management.
Finance Minister Enoch Godongwana will deliver a keynote address at the summit, highlighting the importance of transparency and accountability in public financial management, according to the AGSA statement.
The summit will provide a platform for SAIs to share insights and best practices in promoting good governance and oversight of sustainable development.
'The SAI20 Summit is a crucial event that will enable SAIs to drive collaboration and support their vital role in enhancing governance and fostering oversight of sustainable development within their respective countries.
Video Player is loading.
Play Video
Play
Unmute
Current Time
0:00
/
Duration
-:-
Loaded :
0%
Stream Type LIVE
Seek to live, currently behind live
LIVE
Remaining Time
-
0:00
This is a modal window.
Beginning of dialog window. Escape will cancel and close the window.
Text Color White Black Red Green Blue Yellow Magenta Cyan
Transparency Opaque Semi-Transparent Background Color Black White Red Green Blue Yellow Magenta Cyan
Transparency Opaque Semi-Transparent Transparent Window Color Black White Red Green Blue Yellow Magenta Cyan
Transparency Transparent Semi-Transparent Opaque
Font Size 50% 75% 100% 125% 150% 175% 200% 300% 400% Text Edge Style None Raised Depressed Uniform Dropshadow Font Family Proportional Sans-Serif Monospace Sans-Serif Proportional Serif Monospace Serif Casual Script Small Caps
Reset
restore all settings to the default values Done
Close Modal Dialog
End of dialog window.
Advertisement
Video Player is loading.
Play Video
Play
Unmute
Current Time
0:00
/
Duration
-:-
Loaded :
0%
Stream Type LIVE
Seek to live, currently behind live
LIVE
Remaining Time
-
0:00
This is a modal window.
Beginning of dialog window. Escape will cancel and close the window.
Text Color White Black Red Green Blue Yellow Magenta Cyan
Transparency Opaque Semi-Transparent Background Color Black White Red Green Blue Yellow Magenta Cyan
Transparency Opaque Semi-Transparent Transparent Window Color Black White Red Green Blue Yellow Magenta Cyan
Transparency Transparent Semi-Transparent Opaque
Font Size 50% 75% 100% 125% 150% 175% 200% 300% 400% Text Edge Style None Raised Depressed Uniform Dropshadow Font Family Proportional Sans-Serif Monospace Sans-Serif Proportional Serif Monospace Serif Casual Script Small Caps
Reset
restore all settings to the default values Done
Close Modal Dialog
End of dialog window.
Next
Stay
Close ✕
'The gathering will also present an opportunity for SAIs to share insights that will create foresight for G20 governments to ensure that the plight of citizens in their respective countries continues to lead the developmental agenda,' said Maluleke.
She said the summit will focus on two developmental themes: unlocking and leveraging public infrastructure funding for equality, sustainable growth, and bringing improvement to the lives of citizens; and collaborative and integrative efforts for a future-ready workforce – bridging the skills gap in sustainable economic growth.
Auditor-General Tsakani Maluleke will host the SAI20 Summit next week.
Image: Thobile Mathonsi / Independent Newspapers
These themes are aligned with the G20's theme of solidarity, equality, and sustainability.
'The SAI20 Summit is a significant event that will have implications for global transparency and accountability. The summit will deliver a joint communique that will set out priorities for all member SAIs to implement until the next summit. This will ensure that SAIs continue to play a vital role in promoting good governance and oversight of sustainable development,' added Maluleke.
According to Maluleke, the SAI20 Summit is an opportunity for SAIs to demonstrate their value and benefit by making a difference to the lives of citizens in their respective jurisdictions.
'The ultimate goal is to create an environment where public sector auditors all over the world can do their work to the best benefit of the citizens they are supposed to serve without any fear, favour or prejudice.'
mashudu.sadike@inl.co.za

Orange background

Try Our AI Features

Explore what Daily8 AI can do for you:

Comments

No comments yet...

Related Articles

Enoch Godongwana to highlight public financial management at SAI20 Summit
Enoch Godongwana to highlight public financial management at SAI20 Summit

IOL News

time6 hours ago

  • IOL News

Enoch Godongwana to highlight public financial management at SAI20 Summit

Finance Minister Enoch Godongwana is expected to deliver a keynote address at the SAI20 Summit. Image: Phando Jikelo / GCIS The Auditor-General of South Africa (AGSA), Tsakani Maluleke, will host a summit of supreme audit institutions (SAIs) of the G20 member countries, known as SAI20, on June 24-25, 2025, in Johannesburg. The summit is an event that will pave the way for the upcoming Group of 20 (G20) Summit to take place later in the year, and will bring together auditors-general from G20 countries to discuss key issues related to transparency and accountability in public financial management. Finance Minister Enoch Godongwana will deliver a keynote address at the summit, highlighting the importance of transparency and accountability in public financial management, according to the AGSA statement. The summit will provide a platform for SAIs to share insights and best practices in promoting good governance and oversight of sustainable development. 'The SAI20 Summit is a crucial event that will enable SAIs to drive collaboration and support their vital role in enhancing governance and fostering oversight of sustainable development within their respective countries. Video Player is loading. Play Video Play Unmute Current Time 0:00 / Duration -:- Loaded : 0% Stream Type LIVE Seek to live, currently behind live LIVE Remaining Time - 0:00 This is a modal window. Beginning of dialog window. Escape will cancel and close the window. Text Color White Black Red Green Blue Yellow Magenta Cyan Transparency Opaque Semi-Transparent Background Color Black White Red Green Blue Yellow Magenta Cyan Transparency Opaque Semi-Transparent Transparent Window Color Black White Red Green Blue Yellow Magenta Cyan Transparency Transparent Semi-Transparent Opaque Font Size 50% 75% 100% 125% 150% 175% 200% 300% 400% Text Edge Style None Raised Depressed Uniform Dropshadow Font Family Proportional Sans-Serif Monospace Sans-Serif Proportional Serif Monospace Serif Casual Script Small Caps Reset restore all settings to the default values Done Close Modal Dialog End of dialog window. Advertisement Video Player is loading. Play Video Play Unmute Current Time 0:00 / Duration -:- Loaded : 0% Stream Type LIVE Seek to live, currently behind live LIVE Remaining Time - 0:00 This is a modal window. Beginning of dialog window. Escape will cancel and close the window. Text Color White Black Red Green Blue Yellow Magenta Cyan Transparency Opaque Semi-Transparent Background Color Black White Red Green Blue Yellow Magenta Cyan Transparency Opaque Semi-Transparent Transparent Window Color Black White Red Green Blue Yellow Magenta Cyan Transparency Transparent Semi-Transparent Opaque Font Size 50% 75% 100% 125% 150% 175% 200% 300% 400% Text Edge Style None Raised Depressed Uniform Dropshadow Font Family Proportional Sans-Serif Monospace Sans-Serif Proportional Serif Monospace Serif Casual Script Small Caps Reset restore all settings to the default values Done Close Modal Dialog End of dialog window. Next Stay Close ✕ 'The gathering will also present an opportunity for SAIs to share insights that will create foresight for G20 governments to ensure that the plight of citizens in their respective countries continues to lead the developmental agenda,' said Maluleke. She said the summit will focus on two developmental themes: unlocking and leveraging public infrastructure funding for equality, sustainable growth, and bringing improvement to the lives of citizens; and collaborative and integrative efforts for a future-ready workforce – bridging the skills gap in sustainable economic growth. Auditor-General Tsakani Maluleke will host the SAI20 Summit next week. Image: Thobile Mathonsi / Independent Newspapers These themes are aligned with the G20's theme of solidarity, equality, and sustainability. 'The SAI20 Summit is a significant event that will have implications for global transparency and accountability. The summit will deliver a joint communique that will set out priorities for all member SAIs to implement until the next summit. This will ensure that SAIs continue to play a vital role in promoting good governance and oversight of sustainable development,' added Maluleke. According to Maluleke, the SAI20 Summit is an opportunity for SAIs to demonstrate their value and benefit by making a difference to the lives of citizens in their respective jurisdictions. 'The ultimate goal is to create an environment where public sector auditors all over the world can do their work to the best benefit of the citizens they are supposed to serve without any fear, favour or prejudice.'

Botswana accountancy authority launches probe into PwC following Choppies audit row
Botswana accountancy authority launches probe into PwC following Choppies audit row

IOL News

time6 hours ago

  • IOL News

Botswana accountancy authority launches probe into PwC following Choppies audit row

The Botswana Accountancy Oversight Authority (BAOA) has launched an independent investigation into PricewaterhouseCoopers (PwC) Botswana's conduct in the 2018 audit of Choppies Enterprises, the JSE-listed supermarket chain - the latest salvo in an ongoing battle. Image: Reuters The Botswana Accountancy Oversight Authority (BAOA) has launched an independent investigation into PricewaterhouseCoopers (PwC) Botswana's conduct in the 2018 audit of Choppies Enterprises, the JSE-listed supermarket chain - the latest salvo in an ongoing battle. The audit delays triggered by PwC's handling of the 2018 financials not only caused Choppies' temporary suspension from both the Botswana Stock Exchange and JSE, but also precipitated a dramatic share price plunge and significant investor losses. The BAOA holds sweeping regulatory authority with the power to investigate, penalize, impose hefty fines, and even revoke licenses from entities found in breach - making it one of the most formidable oversight bodies in Botswana's corporate governance landscape. The regulator confirmed it has received a formal complaint from Choppies' legal team and Justice Zein Kebonang, citing two serious allegations of professional misconduct and ethical breaches by PwC and its former lead auditor Rudi Binedell. Central to the complaint is the claim that PwC weaponised confidential internal company data - obtained during its audit engagement - to litigate and defend its own interests in a manner that Choppies' legal representatives argue amounts to abuse of trust and professional overreach. Choppies said in a statement on Tuesday that in response, BAOA is pursuing a probe to determine whether PwC and Binedell violated their statutory, professional, and ethical obligations. If found culpable, the fallout could lead to penalties that undermine PwC's reputation. Choppies said, "For Choppies, the investigation is a potential step toward reputational redemption. For PwC, it poses a grave threat to its credibility, market trust, and future in the region." Video Player is loading. Play Video Play Unmute Current Time 0:00 / Duration -:- Loaded : 0% Stream Type LIVE Seek to live, currently behind live LIVE Remaining Time - 0:00 This is a modal window. Beginning of dialog window. Escape will cancel and close the window. Text Color White Black Red Green Blue Yellow Magenta Cyan Transparency Opaque Semi-Transparent Background Color Black White Red Green Blue Yellow Magenta Cyan Transparency Opaque Semi-Transparent Transparent Window Color Black White Red Green Blue Yellow Magenta Cyan Transparency Transparent Semi-Transparent Opaque Font Size 50% 75% 100% 125% 150% 175% 200% 300% 400% Text Edge Style None Raised Depressed Uniform Dropshadow Font Family Proportional Sans-Serif Monospace Sans-Serif Proportional Serif Monospace Serif Casual Script Small Caps Reset restore all settings to the default values Done Close Modal Dialog End of dialog window. Advertisement Next Stay Close ✕ Ad loading This development comes in the wake of a string of high-profile legal defeats for PwC in its long-running legal battle with Choppies and its CEO, Ramachandran Ottapathu. On April 1, 2025, the Gaborone High Court dismissed PwC's latest suit against Choppies, ruling that it lacked merit and failed to produce evidence of reputational harm. This marked PwC's third consecutive loss in court in a matter closely tied to the controversial audit. Choppies said, "The dispute has widened dramatically, with Choppies accusing PwC of accessing and using confidential financial information under the guise of an independent audit, and then leveraging that information in subsequent litigation. Choppies' legal team has also challenged the legitimacy of a 2023 High Court ruling by Justice Boipuso Makhwe, arguing that it was tainted by judicial misconduct. They claim the judgment was secretly authored by Makhwe's colleague, Justice Zein Kebonang, who had previously ruled in favour of Choppies in 2021, awarding the retailer over P500 million in damages." Justice Kebonang has since filed an affidavit accusing PwC of orchestrating a smear campaign, fabricating claims, and manipulating legal proceedings to escape liability. He maintains he had no involvement in drafting the disputed judgment and has demanded that the judiciary investigate the matter further. Attempts to get comment from PwC by the time of going to print were unsuccessful. Looking ahead, Ottapathu said, 'Choppies awaits the findings of the BAOA investigation, confident in the integrity of its processes and prior legal victories." He also said the next step in the lawsuit against PwC would be the commencement of the main trial. BUSINESS REPORT Visit:

KwaZulu-Natal introduces innovative e-procurement system to combat corruption
KwaZulu-Natal introduces innovative e-procurement system to combat corruption

IOL News

time7 hours ago

  • IOL News

KwaZulu-Natal introduces innovative e-procurement system to combat corruption

KwaZulu-Natal Finance MEC Francois Rodgers and the head of his department Carol Coetzee introducing e-procurement system to curb corruption in the provincial government. Image: Bongani Hans / Independent Media KWAZULU-Natal Finance MEC Francois Rodgers has on Tuesday introduced a first-of-its-kind system to stop corruption and politically-connected favouritism in the procurement system, which has kept him frustrated since he took over the position. The Electronic Procurement System (e-Procurement), which was announced during a press briefing held in Pietermaritzburg, was designed to block unscrupulous tenderpreneurs from undeservedly dominating government tenders that have earned them a multimillionaire or multibillionaire status. Rodgers said KwaZulu-Natal was the first province to implement the e-procurement system, which he believed was unlikely to be corrupted. 'We are trying to deal with fruitless and wasteful expenditure, fraud, and corruption. 'The system would be monitored and controlled by the treasury, and each department would no longer be able to do its procurement,' he said. The provincial government adopted the system from the Department of Forestry, Fisheries, and the Environment (DFFE). Video Player is loading. Play Video Play Unmute Current Time 0:00 / Duration -:- Loaded : 0% Stream Type LIVE Seek to live, currently behind live LIVE Remaining Time - 0:00 This is a modal window. Beginning of dialog window. Escape will cancel and close the window. Text Color White Black Red Green Blue Yellow Magenta Cyan Transparency Opaque Semi-Transparent Background Color Black White Red Green Blue Yellow Magenta Cyan Transparency Opaque Semi-Transparent Transparent Window Color Black White Red Green Blue Yellow Magenta Cyan Transparency Transparent Semi-Transparent Opaque Font Size 50% 75% 100% 125% 150% 175% 200% 300% 400% Text Edge Style None Raised Depressed Uniform Dropshadow Font Family Proportional Sans-Serif Monospace Sans-Serif Proportional Serif Monospace Serif Casual Script Small Caps Reset restore all settings to the default values Done Close Modal Dialog End of dialog window. Advertisement Video Player is loading. Play Video Play Unmute Current Time 0:00 / Duration -:- Loaded : 0% Stream Type LIVE Seek to live, currently behind live LIVE Remaining Time - 0:00 This is a modal window. Beginning of dialog window. Escape will cancel and close the window. Text Color White Black Red Green Blue Yellow Magenta Cyan Transparency Opaque Semi-Transparent Background Color Black White Red Green Blue Yellow Magenta Cyan Transparency Opaque Semi-Transparent Transparent Window Color Black White Red Green Blue Yellow Magenta Cyan Transparency Transparent Semi-Transparent Opaque Font Size 50% 75% 100% 125% 150% 175% 200% 300% 400% Text Edge Style None Raised Depressed Uniform Dropshadow Font Family Proportional Sans-Serif Monospace Sans-Serif Proportional Serif Monospace Serif Casual Script Small Caps Reset restore all settings to the default values Done Close Modal Dialog End of dialog window. Next Stay Close ✕ Rodgers said the system would help the government to cut down on wasteful expenditure that has robbed the provinces of billions of rands through irregular awarding of tenders to unqualifying bidders. 'I don't need to tell you that when you look at fraud, corruption and wasteful expenditure, it is normally in the supply chain management, and those problems are around the human interaction within the supply chain. 'This electronic system is going to take away the human factor out of the awarding of tenders and procurement,' said Rodgers. He said the system would have a significant impact on building a capable and ethical state. He said e-procurement would take effect at the beginning of the 2026 financial year. He said his department was in a desperate move to save money after Finance Minister Enoch Godogwana's announcement that provinces would no longer be allowed to borrow money. He said Godogwana's announcement was based on the fact that the country had already reached an exorbitant figure of repayment of interest on loans, meaning that it was spending around R1.2 billion a day repaying loans, 'which is more than we spend on education and health in the entire country.' He said that willy-nilly spending by the departments through budgeting on money that they do not have would come to an end 'because if we continue to do that, health, education and social development would continue to struggle'. He said taking extra caution in expenditure was meant to make sure that health, education and social development, which are frontline departments, have enough money to operate properly. 'That means other departments, other than the front-line departments, are going to have to relook at how we allocate the money,' he said. Explaining how the e-procurement functions, provincial finance head Carol Coetzee said applying information technology in the procurement would be the province's fundamental shift from the corruptible manual system. She said the department had analysed all the systems that the various government spheres used to run procurement and found that the DFFE was the best. She said since it was owned by the national department, the province did not have to spend exorbitant money buying it. 'Departments are buying assets without a budget. We want to stop that. 'When you log into the system and you put in a requisition of what you need, then the system would ask you 'Do you have a budget' and the budget control would have to authorise the budget on the system and say 'yes, there is a budget' and the system would lock the estimated amount before you even start the process,' said Coetzee. She said the e-system would prevent the department's procurement officials from contacting suppliers they prefer for favours. She said the officials would indicate how many quotes they were looking for, and the system would go to the central supplier database to draw the number of suppliers that provide the commodity. 'Those quotations would not be accessible to anyone until the date for the quotations is closed. 'Currently, what is happening is you source five quotations, you get four quotations and you phone your friend, you tell him that you have received four quotations and these are the prices, and say if you give us your price below that, you are going to be rewarded,' said Coetzee.

DOWNLOAD THE APP

Get Started Now: Download the App

Ready to dive into the world of global news and events? Download our app today from your preferred app store and start exploring.
app-storeplay-store