| Are all the GRAP 108 disclosures on statutory receivables useful? |
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To understand the significance of statutory receivables on an entity’s financial position and performance, information is needed about statutory receivables in the financial statements.
To make informed decisions and hold entities accountable, financial statements should explain the legislation, supporting regulations or similar means that gave rise to statutory receivables, for example a municipal council decision. Information on interest and other penalties that are levied on overdue and unpaid statutory receivables also improves decision-making.
To understand how decreases in the collection of statutory receivables impact an entity’s service delivery objectives, users need information on the main events and circumstances that led to decreases. Information on the key indicators and assumptions applied by management along with the basis used to assess impairment should also be disclosed in the financial statements.
ED 207 requests views on the disclosures required by GRAP 108, and/or other information that could be useful on statutory receivables to inform decision-making. |
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| How can you share your comments? |
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| You can share your views by submitting written comment on ED 207, or by participating in roundtable and direct consultations. Please contact [email protected] if you want to participate in these consultations. |
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