a) The RTIA was not listed or scheduled as a public entity as required by section 47(2) of the Public Finance Management Act (No.1 of 1999) (PFMA), and the expenditure and revenue relating to the administrative functions of RTIA have been included in the financial statements of the RTMC. b) The RTIA did not submit separate financial statements as required by section 14(3) of the Administrative Adjudication of Road Traffic Offences Act (No. 46 of 1998) (AARTO). The failure to submit separate financial statements resulted in the RTMC's financial statements being materially overstated by the following amounts: . Trade and other receivables R109 513 475 . Cash and cash equivalents R45 471 678 . Trade and other payables R41 963 957 . Income R92 554 274 . Operating expenditure R95 937 946