Public financial management (PFM) processes are key areas for the functioning of a state. Every public entity needs financial means in order to provide its services and to ensure performance according to its function and mandate in the institutional setting of a state. Due to the fact that this encompasses functions like the collection and management of revenue, utilisation of public funds, and the subsequent allocation of these funds, financial mismanagement and fraud is somewhat likely.

The Public Finance Management Act is therefore in place to effectively regulate government on a national, provincial and local level, as well as relevant public entities, encouraging transparency and accountability. Its function is to introduce not only financial standards, but corporate governance standards to these departments in order to maximise efficiency, effectiveness and economy of the management of public funds and service delivery. In essence, it is in place in order to focus on outputs and responsibilities rather than the normal rule driven approach of past legislation.

Therefore, at this time as the presidency avows to rid financial mismanagement and unaccountability from the public service, this workshop offers the opportunity for all government staff of every government entity to fully understand and comply with the PFMA as well as the Municipal Finance Management Act (MFMA). This two day entry level workshop will offer the unique experience of gaining a full insight into grasping the requirements of the Act and the responsibilities of those in public finance offices. It will encourage you to incorporate PFMA principles into daily financial management tasks, enabling managers as well as accountants in the public sector an avenue to up your game in this regard.

For more information and brochure, please email Ms. Esther at EstherW@marcusevanskl.com

Key Topics

· Reviewing the Public Finance Management Act (PFMA) in order to grasp of the imbedded requirements

· Considering financial reporting as an essential tool in managing public finances

· Reviewing cash management and successfully applying it to managing public finance

· Assessing roles and responsibilities within departments according to the PFMA and MFMA requirements

Key Features

· Introducing budgeting and budget preparation

· Overcoming wasteful expenditure through transparent and efficient processes

· Addressing loans and borrowing within government to create uniform and accountable practices

· Examining financial statements in order to establish results for the operations within your departments