The Public Financial Act is to regulate financial management in the National, Provincial governments and Public Entities ; to ensure that all revenue, expenditure, assets and liabilities of those governments are managed efficiently and effectively; to provide for the responsibilities of persons entrusted with financial management in those governments; and to provide for matters connected therewith.
Public financial management is fundamental to the promotion of economic development, good governance, social progress and a rising standard of living for all South Africans.
The 5 day contact session is therefore quite intensive, aligned as it is to a number of learning outcomes which will require you to exercise a great deal of interactive participation as well as a willingness to share and learn.
The key objectives of the Act are as follows:
Modernise the system of financial management.
Enable public sector managers to manage, but at the same time be more accountable.
Ensure the timely provision of quality information.
Eliminate waste and corruption.
At the end of this Public Finance Management Act (PFMA) and Treasury Regulations (TR) review participants will have an understanding of the following:
Module 1: Legislation and Governance
The purpose of this module is to capacitate learners on the Public Finance Management Act, Treasury Regulations, the roles and responsibilities of key role players and the generic structure of the Office of the Chief Financial Officer.
Explain and apply the requirements of the Public Finance Management Act
Explain and apply the requirements of the Treasury Regulations
Discuss the roles and responsibilities of the CFO and other key role players
Understand what constitutes ethical behaviour
Demonstrate different types of fraud and corruption
Describe the principles of internal control
Identify the roles and responsibilities of internal audit and audit committees
Identify the function of an external audit
Analyse the different reports issued by the external audit
Module 2: Strategic Planning
The purpose of this module is to capacitate learners on the legislation, concepts, formats and timeframes for the strategic plan and annual performance plan, together with the linkages of these to the budget.
Explain and discuss the strategic planning process, timeframes, formats and terminology
Prepare the annual performance plan
Interpret the relationship between strategic planning and budgeting.
Module 3: Budgeting
The purpose of this module is to help learners understand the legislation, concepts, processes, formats and timeframes relating to all budgeting processes applicable to national and provincial departments.
Explain, interpret and apply relevant legislation,
policies, frameworks and guidelines relating to budgeting
Develop, implement and manage the MTEF budgeting process
Manage the estimates of expenditure process
Manage the submission of the monthly cash flow process.
Manage the adjustment estimates process
Evaluate budgets and reprioritisation of funding.
Module 4: Expenditure and Revenue Management
The purpose of this module is to capacitate learners on the expenditure and revenue process and the recording of these transactions in the accounting system.
Discuss the key concepts, definitions and legislation relating to payments and revenue
Manage the process for verifying payments to source documentation in order to ensure that the payments are valid, authorised, classified and recorded correctly
Understand how the payroll transactions are accounted for in the accounting system
Manage the process for the certification of payrolls
Manage the process for transfer payments to ensure that these are valid, authorised, classified and disclosed correctly
Manage the process of identification and accounting for unauthorised, irregular, fruitless and wasteful expenditure, and the reporting thereof
Manage the process for the identification, collection, recording and reconciliation of revenue.
Module 5: Supply Chain Management
The purpose of this module is to capacitate learners on the legislation, frameworks, processes and reporting relating to supply chain management and the application thereof.
Understand supply chain management legislation, regulations, guidelines and Treasury Instructions
Apply the phases of the SCM processes as per the SCM framework
Complete the bidding and quotation processes
Report and evaluate supply chain management processes.
Government Officials
Finance Professionals
Auditors
Policymakers
Financial Consultants and Advisors
Non-Governmental Organizations (NGOs) and Advocacy Groups
Our diverse instructional approaches ensure effective learning:
– Lectures & Presentations: Engage with expert-driven, stimulating content.
– Course Material: Access well-crafted supporting resources.
– Group Work: Collaborate on discussions and case studies for practical insights.
– Workshops & Role-Play: Participate in immersive, scenario-based activities.
– Practical Application: Focus on applying theoretical knowledge in real situations.
– Post-Training Support: Receive extensive support after training for skill implementation.
Session 1: PFMA and TR
PFMA brief overview of the PFMA
Focus on chapter 6 Public Entities
Section 51 and 57
Treasury Regulations
Relevant section relating to Public Entities
Session 2: Audit Outcomes
Audit outcomes for financial year ended 31 March 2024
A slide prestation of the Audit General presented on 24 January 2025 will be used to start the discussion. This will help the Public Entity obtain a Clean Audit.
Session 3: Avoiding Irregular, Fruitless And Wasteful Expenditure
National Treasury Instruction No, 4 of 1022/23: Compliance and Reporting Framework
Discovery and recognition of Irregular and Fruitless and Wasteful Expenditure
Assessment, Determination, and Investigation
Impracticably Judgement
Management of losses
Quarterly Reporting
Annual Reporting guide: PFMA Compliance Report
Session 4: Supply Chain Management And The Bid Committee System
Procurement Regulations 2022 and Public Entities SCM policy
Contract management
Session 5: Risk Management and Review of the Internal Controls
Discussion on the risk management process and identifying possible weaknesses in the
internal controls.
Discussion on any other areas the client requests.
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