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the dti achieves another clean audit

Sep 20, 2018
the dti achieves another clean audit

The Minister of Trade and Industry (the dti), Dr Rob Davies has welcomed the Auditor General’s clean audit reports for the 2017/2018 financial year for both the department and most of its agencies with the percentage of clean audits for the portfolio increasing from 60% in the 2016/17 financial year to 78% in the 2017/18 financial year.

“The clean audit is an indication that the department is committed to good governance and clean administration that will lead to better service delivery to the department’s stakeholders, investors and aspiring entrepreneurs,” says Davies.

He attributes the clean audit to compliance with relevant laws and regulations, leading by example, ethical leadership, accurate reporting and no wasteful expenditure

The 2017/18 financial year marked the turn of the tide, with the National Consumer Commission gaining a spot in the clean audit ranking list. Other agencies of the dti that also achieved a clean audit status include Companies Tribunal, National Consumer Tribunal, National Gambling Board, National Credit Regulator and the Companies and Intellectual Property Commission.

“the dti also achieved zero irregular expenditure in respect of SCM laws and regulations as well as no fruitless and wasteful expenditure in the past two financial years.  the dti continues to lead on the 30-days payment front by paying all creditors on time,” says Davies.

In the 2017/18 financial year, the dti approved financial support for 848 enterprises or projects under its incentive programmes, which resulted in existing jobs being retained and more jobs being created.

The department’s flagship Black Industrialists Programme, has supported 50 Black Industrialists in the current financial year, bringing the cumulative number in excess of 100 and exceeding the set target.

On the industrial development front, exports have doubled in the 10-year period, which has also seen R45 billion worth of investment by some of the world’s leading global vehicle manufacturers.

As part of government's investment climate reform, the dti has partnered with the World Bank. the dti has rolled out One Stop Shops to three provinces, providing an investment facilitation service to fast track, unblock and reduce red tape in government for all investors.

“These achievements represent the culmination of years of continuous improvement, requiring diligence and commitment from every staff member within the dti,“ stresses Davies.