PREAMBLE

Introduction

The primary purpose of financial statements is to provide relevant and reliable information to users about a reporting entity’s financial position and financial performance. In the public sector, the users of financial statements include ministers, parliament, development partners and the public at large. The objectives of a financial statements audit in the public sector are often broader than expressing an opinion whether the financial statements have been prepared, in all material respects, in accordance with the applicable financial reporting framework but also include service delivery issues.