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

Chapter 3: Audits

Part 2: Audits of institutions by auditors in private practice

28. Audit reports and other reports
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(1)The report of an auditor appointed in terms of section 25(1)(b) must reflect such opinions and statements as may be required by any legislation applicable to the auditee which is the subject of the audit, but must reflect at least an opinion or conclusion on—
(a)whether the financial statements of the auditee fairly present, in all material respects, the financial position at a specific date and results of its operations and cash flow for the period which ended on that date in accordance with the applicable financial framework and legislation;
(b)the auditee’s compliance with any applicable legislation relating to financial matters, financial management and other related matters; and
(c)the reported information relating to the performance of the auditee against predetermined objectives.

 

(2)If required by the Auditor-General, the auditor must report—
(a)whether the auditee’s resources were procured economically and utilised efficiently and effectively; and
(b)on any matters arising from an investigation required by the Auditor-General that should in the public interest be brought to the attention of the relevant legislature.

 

(3)The auditor must submit copies of the audit report referred to in subsection (1)—
(a)to the auditee;
(b)if the auditee has an executive authority within the meaning of the Public Finance Management Act, to that executive authority for submission to the relevant legislature;
(c)to the Auditor-General; and
(d)to the National Treasury or the relevant provincial treasury, as may be appropriate.

 

(4)A report referred to in subsection (2) must be submitted—
(a)in the case of a public entity listed in the Public Finance Management Act, to the executive authority of the entity within the meaning of the Public Finance Management Act, for submission to the relevant legislature; or
(b)in any other case, to the National Treasury or the relevant provincial treasury.

 

(5)When reporting in terms of subsection (2) , the auditor must draw attention to any other matters within the auditor’s investigation which, in the auditor’s opinion, should in the public interest be brought to the notice of the relevant legislature.