This is a claim made by the South African Institute of Chartered Accountants (Saica).
Several KwaZulu-Natal municipalities have been placed under administration and financial management has been highlighted as a problem area.
In a media statement, Saica called on councillors to ensure that individuals with the right skills are appointed to these positions and that those who need training receive it.
It said chief financial officers (CFOs) were responsible for the effective financial management of institutions, including exercising sound budgeting and budgetary control practices and timely production of financial reports.
IFP leader Blessed Gwala said the situation was the result of the ANC’s cadre deployment policy....
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