National Treasury: Accounting Manuals for Departments (AMD) for 2025/26

National Treasury: Accounting Manuals for Departments (AMD) for 2025/26

• 05 August 2025
• Accounting
• South African Accounting Academy

Summary:

The Office of the Accountant General in National Treasury has published the Accounting Manuals for Departments (AMD) for 2025/26.

Article:

These AMDs have been released for comment and relates to Departments.

Key amendments include:

• Incorporation of FAQs issued in the previous reporting cycle
• Clarified guidance on fair presentation and the going concern assumption
• Application of section 42 of the PFMA and its accounting consequences
• A dedicated guide for calculating impairments of financial assets
• A new draft AMD on Chapter 21 of the 2026/27 MCS – Effects of changes in foreign exchange rates

Updates to specific Accounting Manuals for Departments (AMDs) are now available for comment on the MCS Knowledge Hub https://lms.treasury.gov.za/course/view.php?id=54&section=4 

Deadline for comments is 15 September 2025.

Click here to download the document:

https://ag.treasury.gov.za/org/tss/Lists/Updates%20and%20Announcements/Flat.aspx?RootFolder=%2Forg%2Ftss%2FLists%2FUpdates%20and%20Announcements%2FAMDs%20for%20the%2020252026%20financial%20year%20published%20for%20comment&FolderCTID=0x01200200D0DFD877D90DD94481F307910B118E2A 

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 departments that use the MCS, as required by the PFMA, including consideration of the implications of the recent flooding on financial reporting.
• These accounting manuals provide guidance when applying the MCSs to present financial information.

Relevance to Your clients:

• A department must compile their annual financial statements in accordance with the Modified Cash Standard.
• They need to be aware of these accounting manuals when applying the MCSs to present financial information.

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