Session 5: Introduction to MFMA, MSA and MSA
Presenters : Bronwyn MacCallum , Caryn Maitland CA(SA)
Overview
The public sector is highly regulated. As opposed to the private sector, the laws and regulations that govern the financial management of public funds require that actions are only taken by local government if they are compliant with prescripts.
The Municipal Finance Management Act 56 of 2003 (MFMA), is an Act that aims to secure sound and sustainable management of the financial affairs of municipalities and other institutions in the local sphere of government. It also intends to establish treasury norms and standards in local government.
Learning objectives
By the end of this webinar the attendee should:
- Understand the laws and regulations relevant to financial management in local government.
- Understand the objective of the MFMA, the Municipal Structures Act and the Municipal Systems Act.
- Understand the structure of the contents of the MFMA.
- Be able to identify the sections that relate to financial management, other responsibilities and requirements.
- Understand the objective and structure of the Municipal Supply Chain Management Regulations
Content
The webinar will cover the following topics:
- Objectives of the MFMA.
- Structure of the MFMA.
- MFMA sections relating to:
- Internal controls
- Financial management
- Accounting and reporting
- Auditing
- Governance
- Objective of the Municipal Supply Chain Management Regulations.
- Structure of the Municipal Supply Chain Management Regulations.
