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2011 – 2012 Audit Expectations May 2012

2011 – 2012 Audit Expectations May 2012. Reputation promise/mission.

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2011 – 2012 Audit Expectations May 2012

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  1. 2011 – 2012 Audit Expectations May 2012

  2. Reputation promise/mission The Auditor-General of South Africa has a constitutional mandate and, as the Supreme Audit Institution (SAI) of South Africa, it exists to strengthen our country’s democracy by enabling oversight, accountability and governance in the public sector through auditing, thereby building public confidence.

  3. 2010 – 2011 Audit Outcomes

  4. 2011-2012 EXPECTATIONS FROM THE AGSA

  5. Availability of personnel • Availability of CFOs • Availability of finance personnel • Availability of Municipal managers • Availability of section 56 and 57 managers • Availability of technical services personnel • Availability of human resource personnel

  6. Financials and related schedules • Approved financial statements prepared in terms of the GRAP accounting framework, (Manual and Electronic) submitted by the 31 August 2012. • Referenced working paper files that that has supporting documents for each Note to the financial statements as per MFMA Circular 50. (Manual and Electronic) • All journals must be accompanied by valid (appropriate and sufficient) supporting documentation

  7. Audit of performance objectives (AoPO) • IDP 2011/12 • SDBIP 2011/12 • Reviewed Quarterly performance reports • Mid-year budget and performance assessment report • Performance management policies/procedures • Consolidated service delivery quarterly reports which are aligned to the IDP and SDBIP with targets, actual and explanation for variances • Draft Annual 2011/12 Report with Performance information (Manual and Electronic) (TO BE SUBMITTED WITH AFS ON 31 AUGUST 2012) • Supporting documents for actual performance reported in annual performance report and reasons for not achieving targets

  8. GRAP STANDARDS GRAP 17 and 16 – PPE and investment properties • Calculation of depreciation • Fair value of assets • Residual values • Estimation of useful lives • Correct application and identification of investment properties GRAP 13 - Leases • Consistent application of leases

  9. GRAP STANDARDS GRAP 19 – Provisions, contingent liabilities and contingent assets • Provision for land fill site • Provision for leave • Provision for Bonuses • Provision for Long service awards • Provision for long term leave • Employee benefits (Defined contribution or benefit plans)

  10. WATER AND SOLID WASTE RELATED TRANSACTIONS AS PER APPROVAL BY THE MINISTER Local Municipalities • Transactions will be audited here • Movements for the year will be audited here • Journals transferring balances at year end should be supported District Municipality • Signed SLAs must exist for each local municipality • Accounting of water related transactions should be in line with the stipulations of the SLA • Water reticulation losses are responsibility of the District municipality. • All balances taken over from the locals MUST be supported by reconciliations that tie up with the local’s balances. • Balances should be supported by printouts of monthly billings and debtors age analysis taken over from the local municipalities (last pages of the printouts or reconciliations will suffice)

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