The Post Office has fixed its books but not its business

The South African Post Office has received an unqualified audit opinion for the first time in six years — and the same audit report warns it may not survive. The year before, the auditor-general was unable to express an opinion at all. On its own it says nothing about whether the entity complied with legislation or reported honestly on its performance — the two areas in which the Post Office has failed repeatedly. Monday’s statement contains no financial figures at all — no revenue, no loss, no cash position, no accumulated deficit. Gany told TechCentral in July that the balance is not optional: “That’s the stress point, because it has to come.”