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Quality audits – a foundation for building better futures

We are extremely proud of the work we delivered as the external auditor for Eskom Holdings SOC Ltd (Eskom). We set out to provide the highest quality external audit, in service to Eskom’s stakeholders.

After our first year as external auditor, we issued the 2022 Eskom Annual Financial Statements and audit opinion, which are available on the Eskom website. The external audit of Eskom is an important function of corporate governance, which holds Eskom management and those charged with governance to account to its stakeholders for their stewardship of South Africa’s most prominent State-Owned Company.

For this complex audit, we brought together a blended team of auditors, specialists, and five emerging Black-owned audit firms to partner with to ensure we delivered a quality audit.

The firms we partnered with are MGI RAS, Tholisiwe, Thamani, Growthstone, and Modern Firm. These firms collectively received 30% of the audit fee on this engagement in 2023. The intention of this collaborative approach supports the firm’s Enterprise Supplier Development strategy. Our goal is to provide a platform for these firms to grow their skills, experience, capacity and capabilities.

In 2023 these emerging firms have grown their staff complement, increased the number of their audit trainees, and grown their respective businesses. Our audit team has been contributing to the transformation of the audit profession in South Africa for many years. Our commitment to this is unwavering and we will continue to contribute to the sustainable and inclusive growth of our emerging partners.

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