The provincial administration is expecting full compliance for submission of the Annual financial statements by departments, the provincial legislature and all public entities in the province on 31 May 2016.

The submission is a legislative requirement as per Section 40(c) of the Public Finance Management Act which states that the Accounting Officer must submit those financial statements within two months after the end of the financial year to the Auditor General for auditing.

The Department of Finance has in the past financial year conducted workshops to assist Chief Financial Officers (CFO’s) regarding preparation of statements and what information to include therein.

The CFO’s unanimously agreed that due to the training support they received from the department, the quality of financial statement submitted to Auditor-General of South Africa (AGSA) would show marked improvement as compared to previous years.

“The Auditor General raised serious concerns around the quality of information contained in the statements and as a department we started training workshops for all our CFO’s to ensure that the challenge does not recur. We have also put in place a strict audit action plan to ensure that all audit queries raised in the past were dealt with appropriately,” said Finance, Economy and Enterprise Development MEC, Mme Wendy Nelson.

The submission is expected to happen as follows:

Date: Tuesday, 31 May 2016      
Time: 11h30
Venue: Mayor’s Parlour, Madibeng Local Municipality

Members of the media are invited to attend and give coverage of the event.

For enquiries contact:
Kesalopa Gill
Cell: 079 548 6352
E-mail: kgill@nwpg.gov.za