mSCOA Illustrative Financial Statements

The National Treasury has issued an illustrative set of financial statements to assist municipalities with the preparation of their financial statements for the year ended 30 June 2019. The illustrative financial statements do not illustrate the accounting requirements for municipalities that have controlled entities, associates and/or joint ventures. As the way in which municipalities operate is different, it is each municipality’s responsibility to ensure compliance with the Standards of GRAP, including materiality, and related legislative requirements. The illustrative financial statements and the responses to the comments received can also be accessed from the mSCOA website here.

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