ICASA responds to auditor-general
22 September 2006
The Independent Communications Authority of SA (ICASA) has defended itself against the damming report from the auditor-general's (AG's) office, which accused the regulator of gross financial mismanagement.
Asked yesterday why ICASA's fixed assets are insured for R200 million, when the AG's report said the net book value of fixed assets is R14 million, spokesman Jubie Matlou argued: “ICASA has insured its property on a cost-based or replacement value, not on net book value, because when the asset is stolen you have to replace it on the actual value.”
The audit report also referred to what it calls: "Fruitless, wasteful and irregular expenditure, totalling R6.7 million.” Responding to this, Matlou said: “ICASA is reviewing its supply chain management system and procedures to pluck the deficiencies identified by the AG in this regard.”
“It is the authority's intention to tighten the screws in its system to ensure absolute compliance with the Public Finance Management Act,” said Matlou.
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