n IMFO : Official Journal of the Institute of Municipal Finance Officers - High level comparison of audit outcomes - 2004 and 2009




The past six years have been a daunting period for municipalities in South Africa. It saw, amongst others, the implementation of the Municipal Finance Management Act (Act No. 56 of 2003) as well as the Standards of Generally Recognised Accounting Practice (GRAP). On 14 July 2009 the Minister for Cooperative Governance and Traditional Affairs furthermore introduced the launch of Operation Clean Audit 2014. The strategic vision and objective of the project are that by 2014 all 283 municipalities will have achieved clean audits on their financial statements and that by 2011 all municipalities must have dealt with or cleaned disclaimers and adverse opinions. It also aims that by 2009/10 all accounting officers must sign performance contracts on audit management (internal and external audits), integrated risk management, function of audit committees and internal audit units


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