MEC Kenetswe Mosenogi pleased by North West Municipalities readiness to submit 2025/26 Annual Financial Statements to Auditor General of South Africa
Mahikeng: The North West Provincial Treasury today convened all 22 municipalities in the province to assess their readiness to submit the 2025/26 annual financial statements to the Auditor-General South Africa (AGSA) by the legislated deadline of 31 August 2026. The engagement forms part of the province's drive to achieve full, credible and timely compliance with the Municipal Finance Management Act (MFMA). Section 126(1)(a) of the MFMA requires each accounting officer to submit annual financial statements to the Auditor-General within two months of the end of the municipal financial year.
Mosenogi said in the 2024/25 cycle, 21 of the 22 municipalities in North West submitted their Annual Financial Statements on time. She however indicated that several of the statements submitted contained material misstatements and were not adequately supported by documentation. The MEC said the Provincial Treasury has identified the credibility of financial data, and municipalities' reliance on consultants to prepare their statements, as key areas requiring attention ahead of the 2025/26 deadline.
“Today's session set four objectives: to achieve 100% submission of annual financial statements across the province; to improve the credibility of financial statements; to improve compliance with legislated timeframes and to improve accountability’. Mosenogi expressed each municipality was required to account for its state of readiness, outstanding work, key risks, responsible officials, and corrective action. She said municipalities need to strengthen their internal review processes ahead of submission.
"Municipalities need to pay more attention to the credibility of their financial data and reduce their unsustainable reliance on consultants. Active participation by internal audit units and audit committees, reviewing financial statements before they go to the Auditor-General, will help us improve our audit outcomes," said MEC Mosenogi.
The gathering was attended by executive mayors, municipal managers, chief financial officers, managers responsible for financial management and internal audit officials and they all committed that their respective municipalities will be ready to submit their 2025/26 annual financial statements to the Auditor General of South Africa on 31 August 2026.
The Provincial Treasury, the Department of Cooperative Governance and Traditional Affairs (COGTA), and the South African Local Government Association (SALGA) have committed to working together to close support gaps and address risks in the remaining weeks before the deadline.
Issued by North West Provincial Treasury. For more information contact: Media Liaison Officer Lesedi Makhubela 062 103 2798 and Director Information Management Ms. Kesalopa Gill on 018-388 1363/2319.
#GovZAUpdates
Legal Disclaimer:
EIN Presswire provides this news content "as is" without warranty of any kind. We do not accept any responsibility or liability for the accuracy, content, images, videos, licenses, completeness, legality, or reliability of the information contained in this article. If you have any complaints or copyright issues related to this article, kindly contact the author above.
