First ever National Annual Financial Statements Consistency Workshop – Western Cape Government and National Treasury collaborate to strengthen local government finances across South Africa

The Western Cape Provincial Treasury and National Treasury have partnered to host the first ever national workshop aimed at strengthening municipal financial reporting across South Africa.

The National Annual Financial Statements Consistency Workshop, hosted in collaboration with the South African Institute of Chartered Accountants, kicked off today in Pretoria. The goal of the workshop is to strengthen the credibility, consistency, and quality of financial reporting in local government.

This two-day engagement brings together municipal finance teams from across South Africa and technical experts from institutions such as the South African Revenue Service and the Auditor-General of South Africa.

“This workshop is more than a technical exercise,” said Deidré Baartman, Western Cape Minister of Finance. “It represents the collaboration needed across the three spheres of government to ensure good governance, accountability, and ultimately better service delivery to our residents.”

The workshop builds on an initiative launched by the Western Cape Provincial Treasury’s Local Government Accounting Unit in 2020, which piloted targeted interventions including template development, hands-on support, and annual financial statements heatmap analysis. Following measurable improvements in municipal financial reporting in the province, these tools and lessons are now being shared nationally.

Over the next two days, participants will gain practical guidance on:

• Preparing high-quality, Generally Recognised Accounting Practice-compliant annual financial statements. 
• Updates on statutory reporting and governance requirements.  
• Insights on improving audit outcomes. 
• Technical guidance on items such as tax compliance and audit preparedness.

“Accurate and timely financial statements are essential in demonstrating to residents how their money is being managed and building the necessary trust with stakeholders to attract infrastructure investment and development. Truth builds trust and our citizens deserve the truth because it is the people’s money,” said Minister Baartman.

The Western Cape Government is not only committed to strengthening local governance in the province - we want good governance to be a reality for all South Africans. Through municipal, provincial, and national government collaboration, we can help every municipality in the country improve financial reporting and services for residents.