Public Financial Management Regulatory Universe (NQF Level 7)

Public Financial Management Regulatory Universe course is offered by PSAAA (Public Sector Accountancy And Audit Academy). We are an accredited institution, offering training to public sector accounting and auditing professionals.

We help to increase your knowledge, skills, and abilities to improve competency and productivity. We increase the knowledge and skills to ensure accountability in the prudent management of public financial resources.

Content:

• Describe the components and principles of Public Financial Management by referencing the relevant regulatory universe and its relationships with fiscal policy implementation
• Understand the need for legislative framework to promote accountability in the public sector
• Have knowledge of the PFMA, regulations and guidelines and be able to apply them in scenarios
• Be able to identify the key principles of PFMA and understand the impact of non-compliance
• Demonstrate an understanding of the responsibility and functions of the National Treasury and Provincial Treasuries
• Demonstrate an understanding of the functions and responsibilities of Accounting Authorities, Accounting Officers, Executive Authorities and other officials
• Discuss relevant Treasury Regulations
• Identify instances where non-compliance leads to financial misconduct; the disciplinary proceedings, offences, and penalties
• Identify the key principles of the PFMA and understand the impact of non-compliance on the audit report
• Explain the legislative requirements of the PPPFA
• Demonstrate an understanding and apply the provisions of the 2017 Preferential Procurement Regulations in the procurement process
• Demonstrate an understanding of the constitutional and legal status of the Auditor-General
• Discuss the functions and powers of the Auditor-General
• Demonstrate an understanding of the constitutional and legal functions of the Auditor-General
• Discuss the powers of the Auditor-General, including issuing debt certificates and remedial action
• Explain the reporting responsibilities of the Auditor-General
• Explain the requirements of conducting audits on behalf of the Auditor-General
• Demonstrate an understanding of the general auditing powers of the Auditor-General
• Apply the provisions relating to audit fees, duties of auditees and protection of information
• Demonstrate an understanding of the provisions relating to investigations and special audits
• Demonstrate an understanding of the Municipal Finance Management Act and apply it
• Explain the Municipal Structures Act and know how to practically apply the relevant regulations
• Demonstrate an understanding of the relationship between the Municipal Systems Act and the Municipal Structures Act and apply it
• Discuss the Public Sector budgeting and control processes (annual and medium-term budgeting process, budget execution and control) and its impact on Financial Management