SARS vows to get its books in order after scathing report

THE AUDITOR-GENERAL has attacked customs operations in a scathing report on South African Revenue Services (SARS) financial statements.
In declaring that the tax collector's books in general were in such disarray that he could not express an audit opinion, auditor-general Shauket Fakie has highlighted problems with ledger control accounts, incomplete records for customs and excise debtors, and discrepancies between SARS' own records and financial statements.
The report was released in parliament last week by finance minister Trevor Manuel and criticised SARS financial record-keeping. The tax collector had not complied with the provisions of its own founding legislation, it stated.
The problem, says SARS spokesman Fani Zulu, revolves around the legacy involved in incorporating the cash accounting system of the old Inland Revenue and customs and excise departments into an accrual accounting system.
An assurance has been given to the auditor general that SARS is dealing with the matter, he says.

Copyright Now Media (Pty) Ltd
No article may be reproduced without the written permission of the editor

To respond to this article send your email to joyo@nowmedia.co.za