(AGENPARL) – Wed 28 May 2025 PRESS STATEMENT
FOR IMMEDIATE RELEASE
28 May 2025
CUT proudly upholds financial integrity with a string of clean audits
The Central University of Technology, Free State (CUT) has noted with dismay the recent media article stating that universities in South Africa are under siege due to clean audits having dropped to below 50% according to an article in the Business Tech.
These allegations regarding CUT’s audits are baseless, as the University has received clean audit outcomes from 2020 to 2023. These financial statements are readily available for public consumption, as CUT, like all South African universities, reports annually the approved financial statements from the Audit, Risk, and Improvement Committee (ARIC) to the Department of Higher Education and Training.
It means that CUT’s financial statements are free from material misstatements and there are no material findings on reporting from 2020 to 2023. While we await the 2024 Audit Outcomes, the University proudly upholds financial integrity with a string of clean audits, transparency, and accountability since 2020.
Amidst the current adverse reporting on higher education institutions, CUT stands firm in its commitment to our fiscal discipline and the constitutional responsibility entrusted to management to carry out its fiduciary responsibility and take full accountability to the public. We remain steadfast in our optimism for the future, confident in our collective wisdom to succeed.
Business Tech must assist the university in determining where their journalist sourced the university’s financial statements.
More about CUT
CUT is the foremost higher education institution in the heartland of South Africa, dedicated to quality education and training in science, technology, engineering, and mathematics. CUT boasts pockets of excellence, including a premier hotel school and leading research and innovation platforms, i.e., world-class 3D printing technology through medical product development.
For more information about CUT visit http://www.cut.ac.za
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Kind regards,