Table 1.

Audit practices of Schedule 2 SOEs in line with the provisions of applicable corporate governance codes

SOERole of auditors
(PFMA; King IV;
Companies Act; Protocol;
Public Audit Act;
Treasury Regulations)		Expectations gap
(stakeholder
expectations)
(King IV)		Audit committee
(Companies Act;
King IV; Protocol;
Treasury Regulations)		Disclosure
(Companies Act,
King IV; Protocol)		Combined
assurance
(King IV)
Air Traffic and Navigation Services (ATNS)observed – Nexia SAB&Tobservedobservedobserved, integrated report – robustobserved
Airports Company of South Africa (ACSA)observed – AGSAobservedobservedobserved, integrated report – robustobserved
Alexkorobserved – Ngubane & Coobservedobservedobserved, integrated report – robustobserved
Armaments Corporation of South Africa (ARMSCOR)observed – AGSAobservedobservedobserved, annual report – partially robustobserved
Broadband Infrastructure Company (Pty) Ltd (BIC)observed – SNG Grant Thorntonobservedobservedobserved, integrated report – robustobserved
Central Energy Fund Pty (Ltd) (CEF)observed – AGSAobservedobservedobserved, integrated report – robustobserved
DENELobserved – AGSAobservedobservedobserved, integrated report – robustobserved
Development Bank of Southern Africa (DBSA)observed – AGSAobservedobservedobserved, integrated report – robustobserved
ESKOMobserved – AGSAobservedobservedobserved, integrated report – robustobserved
Independent Development Trust (IDT)observed – AGSAobservedobservedobserved, annual report – partially robustnot observed
Industrial Development Corporation (IDC)observed – SNG Grant Thornton and Nexia SAB&Tobservedobservedobserved, integrated report – robustobserved
Land and Agricultural Bank (Landbank)observed – AGSAobservedobservedobserved, integrated report – robustobserved
South African Airways (SAA)observed – AGSAobservedobservedobserved, integrated report – partially robustobserved
South African Broadcasting Corporation (SABC)observed – AGSAobservedobservedobserved, annual report – partially robustobserved
South African Express (SAX)observed – AGSAobservedobservedobserved, annual report – partially robustobserved
South African Forestry Company (SAFCOL)observed – AGSAobservedobservedobserved, integrated report – robustobserved
South African Nuclear Energy Corporation (SANEC)observed – AGSAobservedobservedobserved, integrated report – robustobserved
South African Post Office (SAPO)observed – AGSAobservedobservedobserved, annual report – partially robustobserved
Telkomobserved – PwC and SNG Grant Thorntonobservedobservedobserved, integrated report – robustobserved
Trans-Caledon Tunnel Authority (TCTA)observed – AGSAobservedobservedobserved, integrated report – robustobserved
Transnetobserved – AGSAobservedobservedobserved, integrated report – robustobserved
Source: Authors’ own analysis
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