1887

n IMFO : Official Journal of the Institute of Municipal Finance Officers - Improving financial statements quality prior to submission for audit

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Abstract

Although the finance team of a municipality is faced with a myriad of day-to-day responsibilities, one of the most important of these is probably the preparation of a sound set of annual financial statements (AFS) that fairly presents the financial performance, position and cash flows of the municipality for the financial year. However, unlike the numerous levels of technical review that might take place in a listed company, a municipality's limited technical accounting resources often result in the need to outsource the second level quality review of the financial statements to a competent independent accounting expert (consultant) prior to submission to the Auditor-General for audit.

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/content/imfo/14/2/EJC150053
2013-06-01
2016-12-08
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