#financial statements

According to The Citizen, Auditor-General Maluleke has raised concerns over the financial audits of all metropolitan municipalities, highlighting R62.12 billion in debt write-offs and R1.61 billion spent on consultants. Despite these expenditures, 61% of the municipalities submitted flawed financial statements, prompting alarm ahead of the upcoming elections.

Municipal spending on consultants in South Africa reached R1.6 billion in the 2024/2025 financial year, a significant increase from R586 million in the 2014/2015 financial year. This rise indicates a growing trend where consultants are taking on roles traditionally held by municipal officials, particularly in the preparation of financial statements.