Consolidated Outcome Debrief 2020 by Acting Chief Director Thomas Matjeni
The Consolidated Outcome Debrief for 2020 presented by Thomas Matjeni, Acting Chief Director of National Treasury, highlighted challenges faced by departments including uncorrected misstatements, lack of audit evidence, irregular expenditure, and discrepancies in interdepartmental transactions. The importance of proper documentation, internal controls, and accurate reporting was emphasized. Departments were urged to address these issues to ensure a qualified audit opinion.
Download Presentation
Please find below an Image/Link to download the presentation.
The content on the website is provided AS IS for your information and personal use only. It may not be sold, licensed, or shared on other websites without obtaining consent from the author. Download presentation by click this link. If you encounter any issues during the download, it is possible that the publisher has removed the file from their server.
E N D
Presentation Transcript
3.5 Consol 2020 outcome/debrief Presenter: Thomas Matjeni| Acting Chief Director, National Treasury -ASR | 26 March 2021
CONSOL OUTCOMES/DEBRIEF A. Submissions by departments 100% submission by departments - final audited figures consolidated Some departments submitted after the cut-off date due to: > Unresolved audit queries B. Audit outcomes for departments = Qualified audit opinion Major contributing factors/ challenges 1. Aggregation of uncorrected misstatements in disclosure notes Departments are urged to please correct the misstatements i.e. misstatements are to be corrected at departmental level even though they are immaterial as the cumulative effect at consol level becomes material impacting the audit outcome for NT consol 2. Lack of sufficient appropriate audit evidence and completeness of goods and services Departments are urged to put internal controls in place to ensure that proper documentation and classification of expenditure incurred by departments 1 1
CONSOL OUTCOMES/DEBRIEF- CONTINUED 3. Irregular expenditure Goods and services irregularly procured and inappropriate and insufficient disclosure of irregular expenditure Other contributing factors/ challenges 1. Elimination of interdepartmental transactions and balances Although there s a slight improvement in this we are still noting differences in amounts reported by departments Departments are urged to please assist us in ensuring that the are no discrepancies in amounts reported in this regard e.g. confirmations of transactions and balances between departments that are transacting with each other. C. Reflections by departments (Discussion) 1. Overview of the consol processes what worked well and what needs improvement ? 2. Any other challenges experienced by departments with consol processes which NT must be aware of ? 3. No reporting extension for 2020/21 2 2
CONSOL OUTCOMES/DEBRIEF- CONTINUED Thank you 4 4
