The aim of Prospen Africa’s Public Finance Management Act training course 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.
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 one-day public finance management act (pfma) review participants will have an understanding of the following:
Overview of the PFMA and TR
Audit outcomes for financial year ended 31 March 2023
– Status of material irregularities by 30 September 2023
Avoiding Irregular, Fruitless and Wasteful Expenditure and process to follow if they take place within the Public Entity
– National Treasury Instruction No, 4 of 1022/23
– Compliance and Reporting Framework
Supply Chain Management and the Bid Committee System
– Procurement Regulations 2022
Risk Management and review of the Internal Controls
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 2023
A slide prestation of the Audit General presented on 29 February 2024 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
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.