n IMFO : Official Journal of the Institute of Municipal Finance Officers - How improved compliance contributes to the achievement of a clean audit




The Department of Cooperative Governance and Traditional Affairs (COGTA) has set the target that all municipalities must have clean audits by 2014 (it is interpreted to mean that the 2013/2014 audits must be "clean").

Does this mean that all audit opinions must be unqualified? No, it goes further than just simply being unqualified. In the private sector, an unqualified audit is the norm. However, in the public Sector a higher level of accountability is required - an unqualified audit opinion with no matters of emphasis. The goal is to achieve clean audits as we are dealing with public funds.


Article metrics loading...

This is a required field
Please enter a valid email address
Approval was a Success
Invalid data
An Error Occurred
Approval was partially successful, following selected items could not be processed due to error