National Treasury Issues Updated GRAP Accounting and Disclosure Checklist for 2026/2027

Posted 10 February 2026 Written by Acts Online
Category Financial and Accounting

Brought to you by SA Accounting Academy: The Office of the Accountant-General has issued the updated compliance checklist for reporting entities applying Standards of GRAP for the 2026/2027 financial year.

In terms of the Public Finance Management Act, No. 1 of 1999, and the Local Government: Municipal Finance Management Act, No. 56 of 2003, the National Treasury has released the updated GRAP Accounting and Disclosure Checklist. This latest version is specifically issued to support reporting entities in the application of Standards of Generally Recognised Accounting Practice (GRAP) for the financial year commencing 1 April 2026.

The checklist serves as a technical guide to ensure that the minimum disclosure and accounting requirements of the effective Standards of GRAP are met. The Office of the Accountant-General (OAG) produces this document annually to facilitate consistency and compliance across the public sector. However, the OAG notes that the checklist should not be used as a standalone control for disclosure purposes.

The following directives apply to the use of the 2026/2027 checklist:

  • The checklist must be used in conjunction with the full text of the applicable Standards of GRAP.
  • Reporting entities must place primary reliance on the requirements of the individual GRAP Standards rather than the checklist summary.
  • The checklist is intended to assist in identifying minimum requirements and does not replace professional judgement in financial reporting.

Click here to download the GRAP Accounting and Disclosure Checklist 2027.

What this means for you, your business, or your clients

  • For yourself: You must update your technical review protocols to incorporate the specific disclosure requirements for the 2026/2027 period, ensuring alignment with the 1 April 2026 effective date.
  • For your business: Your practice should update its internal audit and compliance software templates to reflect the latest OAG checklist items to mitigate the risk of reporting omissions in public sector engagements.
  • For your clients: Public sector clients must conduct a readiness assessment to ensure their accounting systems can capture the necessary data for the disclosures mandated by the updated Standards of GRAP.

Originally published at https://accountingacademy.co.za/news/read/national-treasury-grap-accounting-and-disclosure-checklist

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