Municipal Standard Chart of Accounts(mSOA)

The Minister of Finance promulgated Government Gazette No. 37577, Municipal Regulations on Standard Chart of Accounts (mSCOA), on 22 April 2014. All municipalities and related municipal entities were required to transact in compliance with the mSCOA Regulations from 01 July 2017. The mSCOA implementation remains a challenge for municipalities, particularly in ensuring accurate transactional data and reporting.

We are able to assist as follows:

• Detailed review of transactional data on the financial system to determine accuracy, and correct the data as required
• Preparation/Review of mSCOA compliant annual and adjustment budgets
• Preparation/Review of the alignment of the mSCOA transactional accounts to the annual and interim financial statements
• Preparation/Review of the Integrated Development Plan and alignment to the budget
• Preparation/Review of reporting in terms of Section 71 and 72 of the Municipal Finance Management Act (MFMA)
• Status review of mSCOA implementation, including detailed training to address gaps identified