Tag: unauthorised expenditure

In April 2012, the Accounting Standards Board approved the adoption of Generally Recognised Accounting Practice (GRAP) Standards to replace the Modified Cash Basis of Accounting (MCB) in the public sector. For over a decade, despite South African Revenue Service (SARS) noting its intention ‘to expedite the migration of SARS’ revenue accounting practices to [GRAP] to ensure legislative compliance’, there still has been no implementation. Or has there been?

The 2019-20 local government general report released by the Auditor General of South Africa (AGSA) on 15 June continues to emphasise the lack of accountability and consequence management in local government which impacts service delivery and municipal finance management.