Analysis: Comprehensive regulation of the financial reporting ecosystem 

Corporate failures trigger pressing questions about what went wrong and who is to blame. Laws and enforcement mechanisms are questioned, and attempts are made to solve for problems without exploring the core issues. Compliance requires improved scrutiny of the entire ecosystem, particularly in the case of public interest entities and entities with increased technological complexity…

Focus: Unconventional skills can transform the public sector

Desperate times call for unconventional skills that can transform the public sector, writes Msizi Gwala, Project Director at SAICA. South Africa is facing a myriad of challenges. There are concerns acout audit outcomes, lack of accountability, world-leading inequality and service delivery protests. There were early signs of issues, such as the early struggles of state-owned…

Focus: The lack of internal controls negatively impacts service

Internal controls are the first line of defence against fraud, waste and abuse and help public sector institutions to deliver on their mandates. Furthermore, a robust control system, comprising effective internal control, risk management and audit, is fundamental to better governance, safeguarding of taxpayers’ money, and preserving public trust in government. However, the lack of…

Focus: Concerns around public finance management consulting

The use of consultants in public finance management and reporting has become a significant cost to the fiscus, with stakeholders such as the Auditor-General raising concerns about its sustainability. Management consulting is the practice of providing consulting services to organisations to improve their performance or assist in achieving organisational objectives. Organisations utilise the services of…

Focus: Assist public schools to achieve enhanced accountability and good governance

Good governance in public schools is essential to ensure that learners receive quality education and that the school operates effectively and efficiently. It ensures that schools are accountable, transparent, and effective in promoting learners’ achievement and success. In terms of section 23(1) of the South African Schools Act (SASA), the membership of a governing body…