National Treasury: AFS – Annexure 5 proposed changes

National Treasury: AFS – Annexure 5 proposed changes

• 05 August 2025
• Accounting
• South African Accounting Academy

Summary:

The Office of the Accountant General in National Treasury has published proposed changes to Annexure 5: Inter-government contingent liabilities, accruals, payables and receivables of the Annual Financial Statements template for Departments.

Article:

The Annual Financial Statements: Annexure 5 proposed changes have been released for comments and relates to Departments.

Key updates aim to:

• Improve alignment with underlying working papers
• Clarify disclosure of inter-entity balances and contingent liabilities
• Enhance consistency in the presentation of payables and receivables

View the detailed proposed amendments on the MCS Knowledge Hub https://lms.treasury.gov.za/course/view.php?id=54&section=4  

Deadline for comments is 31 August 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%2FDraft%20Amendments%20to%20Annexure%205%20%E2%80%93%20Now%20Open%20for%20Comment%21&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 annexures available to departments to compile their financial statements as prescribed by National Treasury.
• You should be aware of the latest publications issued by National Treasury.

• Relevance to Your clients:

• Applies to all departments that uses the Department AFS template.

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