Thought Leadership

Deteriorating state of municipal finances point to urgent need for professionalization
Deteriorating state of municipal finances point to urgent need for professionalization
Category
Decreases in the number of clean audits, high levels of irregular expenditure and deterioration in the financial health of municipalities are only a few of the matters reported by the Auditor General that point to the need for urgent attention in municipal finance management.
Municipalities continue to struggle with appointing qualified CFOs
Municipalities continue to struggle with appointing qualified CFOs
Category
Johannesburg, 03 June 2019 – The Municipal Finance Management Act, No 56 of 2003 (MFMA) and the Public Finance Management Act, No 1 of 1999 (PFMA) require that the chief financial officer (CFO) be responsible for the effective financial management of the institution including the exercise of sound budgeting and budgetary control practices; the operation of internal controls and the timely production of financial reports.
Guidelines for Preparation of Public School Financial Statements
Guidelines for Preparation of Public School Financial Statements
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Guidelines for the preparation of Annual Financial Statements for public schools in South Africa.
Audit and examination of public school financial Statements - The grey areas
Audit and examination of public school financial Statements - The grey areas
Category
Public schools are required to draw up their annual financial statements in accordance with guidelines determined by the Member of the Executive Council (MEC) and submit the audited or examined set to the head of department within six months after the end of each financial year. The financial year of a public school commences on the first day of January and ends on the last day of December.
Doing Business with Government as an SMME
Doing Business with Government as an SMME
Category
According to the SAICA 2016 SMME Insight Report, over 80% of SMMEs do not do business with Government at any level. This is due to SMMEs viewing the government bidding process as being too complicated, taking too long, and lacking in transparency. Other important factors relate to the slow rate of payment by Government and the B-BBEE process being too onerous.