The University of South Africa (UNISA) proudly announces that it has achieved a financially unqualified audit opinion for the 2023 financial year, based on its continued track record of sound financial reporting.
This marks yet another year in which the institution has maintained the highest standard of financial prudence, transparency, and governance, following unqualified opinions for over five consecutive financial years (2018, 2019, 2020, 2021, 2022, and 2023).
A financially unqualified audit opinion is a powerful affirmation of an institution's integrity in financial reporting. It confirms that UNISA’s financial statements are free of material misstatements and are fairly presented in accordance with the relevant reporting framework and applicable legislations. In essence, it assures stakeholders that the university’s financial position, performance, and cash flows are sound, credible, and well-managed.
This achievement is more than an audit outcome as it is a testament to the university’s solid financial meticulousness, stewardship, governance maturity, and adherence to accountability standards and legislations. It also reflects the dedicated work of UNISA’s financial and administrative leadership, guided by ethical principles and a clear vision for institutional excellence.
Beyond the unqualified audit, UNISA’s financial position and performance have continued to strengthen. From R7 billion reserves in 2018, the university has impressively grown these reserves to over R18.1 billion by the end of the 2023 financial year. This milestone highlights the effectiveness of UNISA’s long-term strategy and tactical asset (investment) allocation, robust risk management, and commitment to long-term sustainability. The financial reserve growth is a strategic buffer that ensures the university’s future resilience and ability to expand and fulfil its academic mission.
UNISA’s success is not limited to financial metrics. The university continues to perform strongly in its core mission of teaching, learning, research, and engaged scholarship. Major global rankings placed UNISA at:
Moreover, UNISA’s research output is on a positive trajectory. Based on the 2023 audited data, UNISA climbed to 6th position nationally in research output ranking, two level up from 8th position in 2022. This growth reflects the unwavering dedication and commitment of UNISA’s academic community to research excellence and innovation.
While the university celebrates its consistent unqualified audit outcomes, the leadership is fully committed to achieving a clean audit opinion in the future, which requires not only accurate financial statements but also no material findings on performance reporting and compliance with legislation.
UNISA is already working diligently to address minor housekeeping matters raised in the audit, demonstrating its readiness to elevate its accountability and performance even further in the coming years.
UNISA remains a beacon of hope, opportunity, and academic excellence for students across South Africa, the African continent, and beyond. The university continues to fulfil its social justice mandate of broadening access to higher education, empowering historically disadvantaged communities, and shaping the intellectual futures of generations to come.
This audit result is not merely a financial accolade, but it affirms that UNISA is on a firm and ethical footing, and that it is prepared to navigate the complexities of higher education with integrity, strategy, and purpose.
UNISA is proud of this achievement and remains resolute in its mission to lead, inspire, and transform through knowledge.
Publish date: 2025-06-19 00:00:00.0