Public Audit Act Directive Drawn Up

National Treasury

A directive on audit functions performed in terms of the Public Audit Act was published in December 2017.

The auditor-general published the directive in Government Gazette 41321.

Some of the issues covered in the directive include auditing standards as well as the nature and scope of audits, audits of public entities and other institutions not performed by the auditor-general, auditees for which legislation is not prescriptive in respect of the financial statements, timing and submission of information for audit purposes and assessment and recognition of financial reporting frameworks applicable in the public sector.

The directive applied for financial periods beginning on or after 1 April 2017.

Meanwhile, the South African Revenue Service published a raft of amendments to Schedules of the Customs and Excise Act during December.

Amendments were published in Gazettes 41322, 41327, 41351, 41353 and 41363.

The standing committee on the auditor-general has called for comment on the Draft Public Audit Amendment Bill.

The draft bill is not yet available.

Sabinet Cape Town Office