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.
The results reflect the Western Cape Government’s consistent year on year improvement in audit results. 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.
“Our number one priority in the Western Cape is to grow the economy and to create jobs. Excellent financial governance is one of the cornerstones of the Western Cape economy and its importance is elevated by the daily revelations of financial impropriety within government departments and state owned enterprises. 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,” Meyer said.
Meyer said 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,” Meyer added.
“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.
The citizens of the Western Cape benefit from good audit outcomes, as it indicates that:
- Public money is well spent on delivery of services
- Public money is not wasted or stolen ensuring that more funds reach front line service delivery
- Public representatives are kept accountable for public funds
- Public funds are well spent buy more services like health care, education and infrastructure.
- Public funds that are well spent attract investment, stimulate economic growth and create jobs.
- Good audit outcomes benefit the citizen because it creates stability and inspires confidence in how tax payers’ money is being spent.
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