Tsakani Maluleke revealed to parliament that the SA Post Office is insolvent; it incurred losses of at least R2.2bn and its liabilities exceeded total assets by over R4bn
The auditor-general (AG) has laid bare the financial and management mess at the struggling SA Post Office (Sapo), issuing it with a disclaimer — the worst possible audit outcome — and raising doubt about its ability to stay afloat in the face of crippling losses.
In Sapo’s annual report for the year ended March 2022 tabled in parliament this week, AG Tsakani Maluleke said she was unable to obtain sufficient appropriate audit evidence to provide a basis for an audit opinion on Sapo’s consolidated and separate financial statements. This means its accounts cannot be relied on...
