Employees of Chief Albert Luthuli Municipality passed the Auditor General (AG) test.
This was revealed in Badplaas on 6 December.
The test was passed with an unqualified opinion for the 2018/2019 financial year.
This means the AG was able to determine each of the financial records provided by the municipality to be true.
An unqualified opinion is an independent auditor’s judgment that a company’s financial statements are fairly and appropriately presented, without any identified exceptions, and in compliance with generally accepted accounting principles (GAAP).
An unqualified opinion is the most common type of auditor’s report.
Like any auditor’s opinion, it does not judge the financial position of the company or interpret financial data.
It indicates that as a result of the testing done during the audit, the independent auditor has enough information to conclude that the company’s financial statements conform to GAAP and fairly present the company’s financial position for the statement time frame.
It is issued when the auditor believes that all changes, accounting policies and their application and effects, have accurately been disclosed
Read the complete article in the Highvelder newspaper.
