FINANCIAL MANAGEMENT IMPROVEMENT PLAN

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FINANCIAL MANAGEMENT IMPROVEMENT PLAN
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PRESENTATION AND ACTION PLAN OF AUDIT FINDINGS
FOR THE 2012/13 AUDIT
FINDING ACTION TIMELINE
Audit of Performance Information (AOPI) Inconsistency between planned targets/indicators and reported targets/indicators. An overall review of the planned targets and reported targets is being undertaken. The internal audit function has assisted with the review of the revised Strategic Plan and Annual Performance Plan. In progress
Audit of Performance Information (AOPI) Key performance indicators (KPIs) are not measurable and time bound. Where applicable, KPIs will be adjusted to be measurable and time bound. A review of the KPIs is being undertaken and will be presented to the board for approval. In progress
Expenditure in excess of approved budget. Due to the increase in operations of the entity, a significant increase in expenditure has been experienced. Controls over expenditure will be improved. Management is engaging with the department and treasury for additional funding. In progress
No internal audit function in place. Deloitte has been appointed as the internal audit function. Completed
Supply chain management policy not addressing prescripts of Treasury Regulations (TR). The current supply chain management policy is being reviewed to ensure compliance with TR. In progress