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Audit Outcomes – PFMA 2007/08
Auditor-General
18 November 2008
Presentation to National Parliament
Audit Outcomes - PFMA 2007/08Status of audit completion as at 14 November 2008
2
Total Audit
CompletedAudit
Outstanding%
Completion
National departments 34 34 0 100%
National public entities and other entities
201 195 6 97%
Constitutional Institutions 9 9 0 100%
Provincial departments 120 119 1 99%
Provincial public entities and other entities
122 106 16 87%
Overall 486 463 23 95%
Presentation to National Parliament
Audit Outcomes - PFMA 2007/08Audit opinions
Type of audit opinion2007-08
No.2007-08
%2006-07
%2005-06
%
Adverse 9 2% 1% 2%
Disclaimer 21 5% 6% 8%
Qualified 105 23% 28% 29%
Financially unqualified (with other matters) 216 47% 46% 51%
Financially unqualified (with no other matters) 112 23% 19% 10%
TOTAL ANALYSED 463 100% 100% 100%
3
Presentation to National Parliament 4
Audit Outcomes - PFMA Qualification audit findings
5%
28%
3%
68%
21%16%
4%
10%
41%
30% 29%
16%
3%
0%
10%
20%
30%
40%
50%
60%
70%
80%
90%
100%
Cash, cashequivalents
andinvestments
Receivables Inventory CapitalAssets
Payables andborrow ings
Provisions,contingent
liabilities andguarantees
Taxes andVAT
Grants,capital andreserves
Presentationand
Disclosure
Revenue Expenditure Materiallosses
Other generalissues
Presentation to National Parliament 5
Audit Outcomes - PFMA 2007/08Other matters audit findings
38%
51%
61%
0%
10%
20%
30%
40%
50%
60%
70%
80%
90%
100%
Non-Compliance Governance findings Material misstatements
Presentation to National Parliament 6
Audit Outcomes - PFMA Good practice indicators
Good Practices %
Clear trail of supporting documentation that is easily available and provided timely 73%
Quality of financial statements and management information 58%
Timeliness of financial statements and management information 88%
Availability of key officials during audits 85%
Development and compliance with risk management and good internal control and governance practices
65%
Leadership / supervision / monitoring 71%
Presentation to National Parliament 7
Audit Outcomes - PFMA Overall conclusion
1. Close leadership involvement is required, including to address challenges such as human resource competency and capacity issues, as well as to monitor the implementation of action plans appropriately designed to address the various audit issues
2. Monthly in year monitoring to include reporting on year to date financial statements.
3. Ongoing monitoring and evaluation of internal controls by audit committee and internal audit to ensure better quality financial information and statements
4. Continued coordination between the portfolio committees and public accounts committees to be institutionalised and focus on financial performance and audit action plans.
5. Continued strengthening of co-ordination between national and provincial treasury as well as capacity of provincial treasuries to enable better support to entities
