Session 6: PFM processes and reporting and UIF
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.
Governments have a responsibility to provide services to the citizens of a country, to protect and grow the country’s resources and to ensure the creation and maintenance of generational capital for future generations. Service delivery is a complex, multi-faceted concept that is dependant on many variables, some within the control of the country, and some that emanate from global issues.
In South Africa, the public service is guided by laid down PFM processes and reporting requirements. However, despite these structures, the reality is that there is a lot of unauthorised, irregular, fruitless and wasteful expenditure taking place as highlighted by the Auditor General year in, year out!
Learning objectives
By the end of this webinar the attendee should:
- Have a high level understanding of the PFM cycle of a public sector entity;
- Understand the strategic planning and budgeting cycles;
- Understand financial management from day to day cycles up to annual reporting;
- Understand the annual audit process and reporting to legislature/parliament; and
- Understand the life cycle of unauthorised, irregular and fruitless and wasteful expenditure.
Content
The webinar will cover the following topics:
- The strategic planning cycle.
- The budget cycle.
- Financial management:
- Day to day financial management.
- In year reporting.
- Annual Reporting.
- The annual audit process.
- Reporting to the legislature.
- The UIFW expenditure cycle.
