Updates from the Office of the Accountant-General
Reporting to the B-BBEE Commission
Departments and public entities are required to report certain information to the B-BBEE Commission. The Office of the Accountant-General at the National Treasury has issued guidance in the Annual Report Guide on how this information should be reported. The following information is important: Annexure D is the template prescribed by the Department of Trade and Industry that departments and public entities need to complete and includes the information on relevant documents departments must attach in the submission to the B-BBEE Commission. Annexure D should not be included in the annual report as they are the supporting documents that must be submitted to the B-BBEE Commission only. “Part C: Governance” in the Annual Report Guide indicates the information which needs to be completed for the annual report itself. The Annual Report Guide can be accessed by following this link: Office of the Accountant-General > Publications > 20. Annual Report Guide
The impact of COVID-19 on legal compliance by public entities and municipalities
Given the COVID-19 lockdown, the Ministers of Finance and Co-operative Governance and Traditional Affairs have issued regulations regarding the application of the Public Finance Management Act (Act No. 1 of 1999, as amended) (PFMA) and Municipal Finance Management Act (Act No. 56 of 2003) (MFMA). The details of the Gazettes are as follows: Gazette No. 43181 and No. 43184 issued on 30 March 2020 for the MFMA. Gazette No. 43188 issued on 31 March 2020 for the PFMA. Due to the extension of the lockdown period, the submission of financial statements for PFMA entities has been extended by two months.
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