Some of the things that a pub­lic ser­vant can do in or­der to as­sist his or her pub­lic en­tity in ef­fec­tive fi­nan­cial man­age­ment and ul­ti­mately reach­ing its ser­vice de­liv­ery ob­jec­tives:

Mmileng - - 2017/18 Ral Audit -

• Keep records – the main­te­nance of cred­i­ble and us­able records will en­sure ac­count­abil­ity. Con­trols over daily and monthly pro­cess­ing and the rec­on­cil­ing of trans­ac­tions must be im­ple­mented, with vari­ance and ex­cep­tion re­ports re­viewed reg­u­larly.

• De­velop ef­fec­tive poli­cies and pro­ce­dures – these should be im­ple­mented to achieve con­trol ob­jec­tives.

• Re­port­ing – trans­parency and ac­count­abil­ity in re­port­ing and dis­clo­sure of in­for­ma­tion is vi­tal to the prac­tice of good cor­po­rate gov­er­nance. The Mu­nic­i­pal Fi­nance Man­age­ment Act and the Pub­lic Fi­nance Man­age­ment Act speak to the need for qual­ity and rel­e­vance of fi­nan­cial re­port­ing.

• Check­lists or dash­boards – re­view­ing and mon­i­tor­ing mech­a­nisms to en­sure com­pli­ance.

• Per­for­mance in­for­ma­tion – this process must be­gin when poli­cies are de­vel­oped and must con­tinue through each of the plan­ning, bud­get­ing, im­ple­ment­ing and re­port­ing.

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