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SAIGA's Skills Transfer & Educational Programmes STEPSTM THE PUBLIC FINANCE MANAGEMENT ACT COURSE Course Facts
Background and topics covered This is the Foundation Module of the Public Finance Management Programme. The Public Finance and Management Act (PFM Act) regulates financial management at national and provincial level. The PFM Act also embraces constitutional institutions, public entities, national and provincial government business enterprises as well as entities under their ownership control. The PFM Act provides the framework for a paradigm shift from financial administration to financial management. It introduces many concepts which are new to the public sector. Although the "forerunner" of the PFM Act, The Treasury Control Bill, contained a number of new concepts, the PFM Act clarifies many matters and also adds considerably to the regulatory framework. In view of the PFM Act's implementation date of 1 April 2000, a sound knowledge of basic principles of the Act is of utmost importance. It is also necessary to understand and be able to identify the effects of this legislation and its far-reaching consequences. This course provides a unique opportunity to participants to familiarise themselves with this legislation and the far-reaching consequences it will have on the reporting processes, financial management, responsibilities of office bearers and officials and increased accountability obligations in particular. Apart from providing the participants with a sound overview of the legislation, the course is designed to deal with numerous new concepts introduced by the Public Finance Management Act. These include, for example the following: effectiveness, efficiency, economy, materiality, cash management, financial statements, risk management, internal control, internal audit, audit committees, accountability, measurable objectives, performance standards, norms and standards, ownership control, subsidiaries, annual reports, fair representation, public interest, financial misconduct, fruitless and wasteful expenditure, GRAP & GAAP. Other content includes:
The Public Finance Management Act affects all role-players in the public accountability chain. In terms of Section 45 of the Act, the responsibility for effective, efficient, economical and transparent use of financial and other resources as well as a large number of financial management aspects are made applicable to all officials within their areas of responsibility. The course is therefore a must for staff of the Office of the Auditor-General, all officials in national and provincial departments, constitutional institutions, public entities and entities under their ownership control. Booking and cancellation policies Bookings Since only a limited number of participants can be accommodated, bookings will be handled on a first-come-first-served basis. To avoid disappointment submit your registration as soon as possible. Changes / cancellations: Tax invoices will be issued (faxed and posted) on receipt of your booking. Once a tax invoice has been issued the department/delegate will be held liable for payment of the full course fee. No refunds can be made, but alternative delegates (substitutes) may attend the same course at no extra cost. All booking changes or cancellations are charged at R1,368.00 (R1,200 plus 14% VAT) per delegate booking. No cancellations or changes in booking will be accepted if not received in writing at least 5 working days before the course. Invoices must be paid before the course starts. No certificates will be issued if payment is outstanding. Outstanding payments incur 2% interest per month. Due to the minimal information which banks provide in respect of direct deposits, participant have to fax their deposit slips / electronic transfer slips to the Secretariat and state the invoice number/(s) to which the deposit refers. As required by recent legislation, VAT numbers have to be provided with registration. The Institute reserves the right to cancel a particular course due to unforeseen circumstances e.g. insufficient bookings or unavailability of venues (in the last few years, only a few courses had to be cancelled). In such event, participants will be informed at least two weeks before the scheduled course date of such cancellations. Participants who have paid their fees will receive full refunds in the event of SAIGA cancelling a course (SAIGA’s liability in such event is limited to this refund). To register for this course, or any other course, kindly complete our online registration form: |
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