NSFAS administrator says irregular expenditure of over R7bn concerning
The financial scheme briefed Parliament Wednesday, where it disclosed irregular expenditure to the tune of over R7 billion.
JOHANNESBURG - Auditor-General Kimi Makwetu has given the National Student Financial Aid Scheme (NSFAS) a qualified opinion, saying he doesn’t have evidence to back up claims that NSFAS spent R24 billion on bursaries.
The financial scheme briefed Parliament on Wednesday, where it disclosed irregular expenditure to the tune of over R7 billion.
NSFAS administrator Dr Randall Carolissen said this was concerning.
“The qualified opinion rests on a lot of the historical issues we found in our clean up of NSFAS. Irregular expenditure, which we had covered, went up to R7.5 billion. Many things we qualified for should have been qualified earlier.”
It was also revealed that the AG couldn’t confirm R1.2 billion of transactions that were paid to various higher learning institutions.