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The 2014/15 audit outcomes for the Western Cape government had showed that 12 out of 13 provincial departments had received clean audits‚ and this would assist the province in becoming an attractive investment destination‚ Western Cape MEC of Finance Ivan Meyer said on Thursday.
A hundred percent of Western Cape departments achieved unqualified audits in the 2014/15 financial year‚ and 12 out of 13 departments achieved clean audits.
“The Democratic Alliance congratulates the Western Cape education department for achieving the first ever clean audit by an education department in South Africa‚” national spokesperson Phumzile Van Damme said.
Meyer said‚ “The percentage of departments which have received clean audits over the last three audit periods have increased from 36% in 2011-12 to 92% in the 2014-15 audit years while the quality of financial statements have improved from 95% to 100% during the same period.
“We are determined to make the Western Cape an attractive investment destination and the audit results certainly assist us in doing so. The people of the Western Cape and certainly investors can rest assured that the Western Cape will continue to create an enabling environment for business through effective financial governance‚” he said.
“It is also by now common knowledge that South Africa is facing a potential fiscal crisis. The size of the public wallet is shrinking‚ demands are growing unabatedly and service delivery is under threat. The Western Cape will therefore have to ensure that it offers potential investors in infrastructure etc‚ the comfort that their investment in our province will be in safe hands.
“The 2014-15 Western Cape outcomes therefore provides the basis to do so by instilling confidence in the Western Cape government as a responsible custodian of public funds and champion of good financial governance‚” he said.
Source: RDM News Wire.
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