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Public Finance Management Act (PFMA)

1 Day Training

Dates: 03 June | 05 August 2024
Locations: Johannesburg, South Africa
Platform: Available In-Class / Online

Price: Available on Request

This is a Non-Accredited Course

Course Introduction

The aim of the 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.

Course Objectives

At the end of this one-day 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

Who should attend?

  • Government Officials

  • Finance Professionals

  • Auditors

  • Policymakers

  • Financial Consultants and Advisors

  • Non-Governmental Organizations (NGOs) and Advocacy Groups

Public Sector Courses

Training Methodology

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.

Training Outline

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.

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