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National Treasury: 2025/26 Updated mSCOA Specimen AFS
- 10 July 2026
- Accounting
- South African Accounting Academy
Summary:
The Office of the Accountant General in National Treasury has made the updated 2025/26 Municipal Standard Chart of Accounts (mSCOA) Specimen Annual Financial Statements (AFS) available as a new resource.
Article:
The latest release has been updated to reflect:
- The latest amendments to the Standards of GRAP;
- mSCOA Chart Version 6.9;
- Feedback received from stakeholders during the review process.
The following specimen AFS have been published:
- Municipal Specimen AFS
- Consolidated Municipal and Municipal Entity Specimen AFS
- Water and Sanitation Specimen AFS
- Energy Sources Specimen AFS
- Waste Management Specimen AFS
A key development for the 2025/26 financial year is that metropolitan municipalities are required to prepare separate annual financial statements for Water and Sanitation, Energy Sources and Waste Management as part of the Metros Trading Services Reform (MTSR) initiative.
The official specimen AFS can be accessed on the National Treasury MFMA website.
National Treasury acknowledges that publicly available Annual Financial Statements of municipalities, such as Drakenstein Municipality, were used as reference material in identifying practical examples and good reporting practices reflected in the updated Specimen Annual Financial Statements.
All preparers, reviewers, auditors and financial reporting practitioners are encouraged to familiarise themselves with the updated specimens before commencing the preparation of the 2025/26 Annual Financial Statements.
Click here to download the document:
Relevance to Auditors, Independent Reviewers & Accountants:
- The PFMA is yet another piece of legislation that your relevant national and provincial departmental clients must comply with, and which you must assess compliance with. If they don’t comply with the relevant laws and regulations, you have certain reporting obligations in terms of NOCLAR (NOn-Compliance with Laws And Regulations) – this could include reporting to management, qualifying your audit opinion, reporting a Reportable Irregularity, etc.
- As an auditor and independent reviewer, you need to consider and assess compliance with the tools available to departments to compile their financial statements as prescribed by National Treasury.
Relevance to Your clients:
- Applies to all departments that uses the Department AFS template.