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Eskom May not be Able to Continue Operating, Auditor Says

  • Material uncertainty as to whether utility is a going concern
  • Eskom faces leadership vacuum with CEO and COO set to exit
Updated on

Eskom Holdings SOC Ltd.’s auditor said it is concerned that the company may not be able to continue operating and detailed a litany of criminal, wasteful and irregular practices at the stricken South African power utility.

The auditor, Deloitte & Touche found evidence of failure to take action to correct breaches of the National Environment Management Act, the purposeful destruction of tender documents in a fire, the possible recreation or falsification of documents and the failure of management to comply with the Public Finance Management Act, Eskom said in a stock exchange filing.