The department of Finance and Economic development is responsible for the preparation,
completeness and integrity of the City of Joburg's group annual financial statements.
The Auditor General (AG) is responsible for independently auditing, reporting and ensuring that
the City of Joburg complies with the various regulatory bodies it operates and governed under.
The City of Joburg's financial statements are prepared in accordance with:
- Section 188 of the constitution of the Republic of South Africa, 1996 (Act no. 108 of 1996)
- Section 126(3) of the Municipal Finance Management Act 2003 (Act no. 56 of 2003) MFMA
- Section 300 of the Companies Act 1973 (Act no. 61 of 1973)
As the City of Joburg is a publicly listed entity on the Bond Exchange of South Africa (BESA), it continually strives to report and disclosure on all relevant and pertinent financial and non-financial matters. As the City of Joburg's group financial statements have different stakeholders ranging from the residents of COJ, financial institutions, investors, guarantors and credit rating agencies and governing bodies, it is crucial that group financial statements address and are comprehensible to all.
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