National Treasury: Capital asset working papers

National Treasury: Capital asset working papers

• 17 December 2024
• Public Sector
• South African Accounting Academy

Summary:

The Office of the Accountant General in National Treasury has published the capital asset working papers for the preparation of departmental annual financial statements (AFS) for the year ended 31 March 2025.

Article:

This is in the form of an Excel spreadsheet.

Departments requested assistance with the additions and disposals notes that were deleted from the financial statements. This working paper file should assist departments regarding the information to be completed in the movement notes.

The purpose is to assist departments with completion of the capital asset notes in the financial statements, specifically the additions and disposals columns in the movement notes.

Click here to download the document:

https://ag.treasury.gov.za/org/tss/Shared%20Documents/Modified%20Cash%20Standard%20Reporting/For%20financial%20year%20ending%2031%20March%202025/Tools/Capital%20Asset%20Working%20Papers_updated%2004112024.zip

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.

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