Tito Mboweni grants municipalities more time to submit financial statements
The phased, virus-driven lockdown has had a knock-on effect on the availability of municipal staff, adding to delays, says the Treasury
Finance minister Tito Mboweni has granted SA’s beleaguered municipalities and local government entities an exemption from legally prescribed deadlines to submit their financials for auditing, as a result of the national state of disaster and the coronavirus lockdown.
The exemption from certain requirements of the Municipal Finance Management Act (MFMA), gazetted on Wednesday, grants local governments a two-month delay to submit their annual financial statements, annual reports, audit opinions, and oversight reports to the auditor-general’s office. The reports would ordinarily have been due at the end of August...