The Auditor-General (AG) released the general report on the 2016/17 MFMA audit outcomes in May 2018. The report indicates an overall regression compared to previous financial years. The audit outcomes of 45 municipalities regressed while there was an improvement in 16 municipalities. Only 33 (13%) of municipalities managed to produce quality financial statements and performance reports and to comply with key legislation, thereby receiving a clean audit.
Read the full article here.