Public Audit Act, 2004 (Act No. 25 of 2004)

Chapter 4: Administration of Auditor-General

Purchase

(1)	The Deputy Auditor-General must for each financial year prepare an annual report and financial statements, including cash-flow information, which—

(a)	fairly present the state of affairs of the Auditor-General, including its business, financial results, performance against predetermined objectives and financial position as at the end of the financial year; and

(b)	include particulars of—

(i)	any material losses through criminal conduct, any material irregular expenditure, and any fruitless and wasteful expenditure that occurred during the financial year;

(ii)	any criminal or disciplinary steps taken as a consequence of such losses or irregular expenditure or fruitless and wasteful expenditure;

(iii)

any material amounts recovered or written off as a result of criminal conduct, irregular expenditure and fruitless and wasteful expenditure; and

(iv)	any other matters that the external auditor considers necessary.

(2)	The financial statements must be in accordance with international best practice.

[Section 41(2) substituted by section 14 of Notice No. 1260, GG 42045, dated 20 November 2018]

(3)	The Deputy Auditor-General must within two months after the end of a financial year submit the financial statements for that year to the external auditor appointed in terms of section 39.

(4)	The external auditor must—

(a)	audit those statements; and

(b)	submit an audit report on those statements to the Auditor- General within two months of receipt of the statements for auditing, which report must include an opinion or conclusion on the reported information relating to the performance of the Auditor-General against predetermined objectives.

(5)	The Auditor-General must submit the annual report, the financial statements and the audit report on those statements within six months after the financial year to which they relate to the oversight mechanism and to the Speaker for tabling in the National Assembly.

(6)	If the Auditor-General fails to comply with subsection (3), the Auditor-General must promptly submit a written explanation setting out the reasons for the delay to the National Assembly.