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Second Adjustments Appropriation Bill Sent to NCOP

December 8, 2020

Parliament

The national assembly has passed the Second Adjustments Appropriation Bill and sent it to the national council of provinces for concurrence.

The bill was tabled in parliament on 28 October 2020 during the Medium Term Budget Policy Statement.

The bill aims to effect adjustments to the appropriation of money from the National Revenue Fund for the requirements of the State in respect of the 2020/21 financial year; and to provide for matters incidental thereto.

In a statement, parliament declared that the standing committee on appropriations recommended that the finance minister must ensure that national treasury reports to the committee on the disbursement and utilisation of the R12.6 billion proposed allocation for the presidential employment interventions.

“The Committee wants to exercise its oversight function on this expenditure and the number of employment opportunities it creates for South Africans who have been hit hard by the Covid-19 pandemic.”

The Committee also recommended that the finance minister review the financial sources for funding South African Airways and find alternatives that do not undermine service delivery and development programmes in the 2021 Appropriations Bill.

The committee passed the bill without amendments.

The select committee on appropriations will now process the bill.

Meanwhile, the Independent Regulatory Board for Auditors (IRBA), in Government Gazette 43962, announced amendments to Part 4B of the Code of Professional Conduct for Registered Auditors to reflect terms and concepts used in the International Standard on Assurance Engagements 3000 (Revised).

According to IRBA, the revisions will be effective from 15 June 2021.