Basic Conditions of Employment Act, 1997
R 385
Public Finance Management Act, 1999 (Act No. 1 of 1999)Chapter 3 : Provincial Treasuries and Provincial Revenue FundsPart 1 : Provincial Treasuries19. Annual consolidated financial statements |
| (1) | A provincial treasury must— |
| (a) | prepare consolidated financial statements, in accordance with generally recognised accounting practice, for each financial year in respect of— |
| (i) | provincial departments in the province; |
| (ii) | public entities under the ownership control of the provincial executive of the province; and |
| (iii) | the provincial legislature in the province; and |
| (b) | submit those statements to the Auditor-General within three months after the end of that financial year. |
| (2) | The Auditor-General must audit the consolidated financial statements and submit an audit report on the statements to the provincial treasury of the province concerned within three months of receipt of the statements. |
| (3) | The MEC for finance in a province must submit the consolidated financial statements and the audit report, within one month of receiving the report from the Auditor-General, to the provincial legislature for tabling in the legislature. |
| (4) | The consolidated financial statements must be made public when submitted to the provincial legislature. |
| (5) | If the MEC for finance fails to submit the consolidated financial statements and the Auditor-General's audit report on those statements to the provincial legislature within seven months after the end of the financial year to which those statements relate— |
| (a) | the MEC must submit to the legislature a written explanation setting out the reasons why they were not submitted; and |
| (b) | the Auditor-General may issue a special report on the delay. |
