The introduction of the Municipal Standard Chart of Accounts (mSCOA) by the South African National Treasury has altered the South African municipal operating environment. In this short article you will find 7 ways in which mSCOA compliance will benefit municipal operations and read more about IMQS’s approach to mSCOA-ready Infrastructure Asset Management (IAM).
Improved data quality and credibility
Deeper analysis of sector comparison
Uniform recording of transactions
Uniform data sets
Standardised key business processes
Standardisation and alignment of government accountability cycle
Standardisation of account classification