1. Click to edit Master subtitle style 4/20/12 Annual Financial Statements 2011/12 Action plan Presentation to Portfolio Committee 17-18 April 2012 Cape Town Chief Financial Officer

2. 4/20/12 Presentation lay out Challenges Action plan to overcome challenges Activities to be addressed during compilation of AFS Important dates

3. 4/20/12 Challenges Capacity constrains Vacant senior managers posts – 2 Chief directors – Director Financial Accounting 2010/11 qualified audit outcome No capacity from the National Treasury and DBSA Interim Audit outcomes

4. 4/20/12 Action Plan to overcome the challenges Establish an AFS project team, which will consist of: – Deputy director policy and monitoring( project leader) – Deputy director reporting, expert on AFS – Members from Internal Audit, will verify reconciliations and inputs to AFS – Possible appointment of contract workers at senior level and also on production level – Approach some departmental entities who are willing to assist eg waterboards National Treasury will final check AFS prior to submission to AG

5. 4/20/12 Action Plan to overcome the challenges : CONTINUE Develop action plan with tight time frames AFS inputs to be signed off by the responsible managers, this will ensure quality inputs BPR support AFS inputs files to be prepared as evidence to the different notes to the AFS Trial Balance meetings, to ensure reliable AFS data Address all interim audit outcomes

6. 4/20/12 Activities to be addressed during the AFS Attend to 2010/11 audit matters raised Inform all responsible role players regarding final input dates Attend to year end BAS and LOGIS procedures Attend to new code structures from NT Request NT regarding any Budget virement Revenue emanating from Roodeplaat Training Centre Compensation of employees data

7. 4/20/12 Activities to be addressed during the AFS : Continue Gifts/Donations/Sponsorship information Conditional grants/Donor funding inputs Transfer payments Suspense accounts inputs Bank account reconciliations Staff debt and state loans to irrigation boards etc Advances issues to staff and implementing agents Contingent Liabilities from legal services

8. 4/20/12 Activities to be addressed during the AFS : Continue Inter departmental claims reconciliation Appropriation statement compilation Unauthorised, irregular, fruitless and wasteful expenditure report Accounting policy sign off Accounting officers report Stock and inventory counts and reporting Complete and accurate asset register

9. 4/20/12 IMPORTANT DATES REGARDING THE AFS Letters to responsible managers to inform them about required and standard of information : 20 March BAS closure, 20 April Consolidation of all inputs by project team: 11 May Readiness of draft AFS: 16 May Quality assurance by IA: 18 May NT and BPR to verify and possible adjustments by 21 May

10. 4/20/12 IMPORTANT DATES REGARDING THE AFS Final AFS 22 May Tabling of AFS to Audit Committee: 24 May DG to sign off AFS and Annual Report 29 May Submit to AG 31 May AG audit AFS during June and July Final management letter and Audited AFS to DWA end of July

11. 4/20/12 THANK YOU