Auditors cast doubt on WUC�s viability

Friday, October 13, 2017

Leading audit firm, Deloitte & Touche has cast doubt on the ability of the Water Utilities Corporation (WUC) to continue as a going concern in view of its audited financial statements for the year ended March 31, 2017.

The state-owned corporation, which provides water and wastewater management services, released the statement of comments by its auditors via the Botswana Stock Exchange (BSE) this week.

Partner of Deloitte Botswana, Pragna Naik drew attention to WUC experiencing a significant decrease in revenue for the year under review and incurring a loss of P137.4 million before taking into account the tariff subsidy grant of P388 million received from government.

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Auditors cast doubt on WUC�s viability

Leading audit firm, Deloitte & Touche has cast doubt on the ability of the Water Utilities Corporation (WUC) to continue as a going concern in view of its audited financial statements for the year ended March 31, 2017.