PFMA

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PFMA

• Responsibilities of Accounting officer

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General Responsibilities of Accounting Officer

• Before transferring funds to an entity within or
  outside government, must obtain a written
  assurance from entity that that entity implements
  effective, efficient and transparent financial
  management and internal control
• Must keep full and proper records of the
  financial affairs of the department in accordance
  with any prescribed norms and standards
• Must prepare financial statements for each
  financial year
• Accounting Officer can review the procedures and
  controls in place at an institution where he/she
  transfer funds.

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Control and Accountability 1

• An entity submit business plan and full budget to
  the department. Once department is satisfied that
  the entity has provided clear indication of the
  functions the institution/entity will be
  performing. May approve business plan and budget.
• Then a memorandum of agreement is concluded
  between the parties.
• Transfer payments are done according to a monthly
  cash flow.
• The institution/entity has to submit a quarterly
  report on its activities as per its business plan
  to the department.
• Submit an annual report, which contains its
  audited financial statements to the department.
• Financial statements should clearly indicate the
  funds received from the department and on
  disclosure indicate what funds were used for.
• This is very important for audit purposes because
  department has to be sure that the funds were
  used for purposes for which were transferred.

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Control and Accountability 2

• Prior to rendering financial assistance during
  any year, accounting officer should satisfy
  herself by means of evaluating documentation and
  information submitted by an institution that
• The conditions in respect of the previous year
  assistance have been complied with by the
  beneficiary institution
• The necessity for continued assistance still
  exists
• The financial aid is still meritorius and
• The set objectives were attained.

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THANK YOU

• Thulani Duncan Ntuli
• 012-304-5010
• 082-801-4382