Auditing SA Edition 7

Page 6

Letter from the President

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s SAIGA President, I’d like to wish every member and stakeholders well wishes for 2024. We begin the year by looking in the rear mirror. One of the proud moments was the turnaround of PSAAA through its new board and leadership they managed to close on a positive note, by ensuring that we continue to capacitate the public sector to ensure accountability is upheld in the prudent management of public financial resources.

The accreditation process with the Independent Regularity body of Auditors (IRBA) is at an advanced stage with submission in due course.

Forming the Certified Forensic Accountant qualification (collaboration of 10 professional institutions)

Being accepted into the Anti-Intimidation and Ethical Practices Forum (AEPF)

Some of the achievements being:

Being accepted into the Public Sector Audit & Risk Forum

Fasset funding and LGSETA for the next three years to host trainees across the nine provinces and the sectors.

Collaboration of University of Bakircay on various programmes and research.

The repositioning of the Southern African Institute of Government Auditors (SAIGA) to focus on both auditing and accounting disciplines within the public sector through our recent discussions with CIPFA on possible collaboration. The SAIGA new competency framework is the first framework in the public sector for finance professionals in an effort to professionalise the public sector. The Institute has registered the public sector auditor qualification at the NQF 8 level, the first of its kind in the public sector both locally and globally. QCTO has accredited PSAAA to offer the qualification as a training provider. Building capacity within the broader public sector environment and expanding the Institute’s presence within the SADC region, in Eswatini and Lesotho to name a few.

SAIGA has achieved the goal of being a global institution, recognised on the international stage through collaborations with PAFA and API.

In terms of our publications, our academic research journal, SAJAAR has reached almost 195 countries, read by 1458 readers per month and at least 70 subscribers per month.

We have reintroduced the Auditing SA Journal/ Magazine, which covers topical content including technical research relating to the public sector, specifically auditing and finance. The journal has attracted the attention of the public sector and to date we have an agreement with the government communication agency.

We have accredited universities in terms of the public finance programmes and to offer our public auditor qualification.

The association has also given our trainees options by accrediting numerous audit businesses to host the SAIGA trainees.

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We are now part of the accounting quality advisory board of the Pan- African Federation of Accountants (PAFA), which is the continental arm of the International Federation of Accountants (IFAC), the international body responsible for setting accounting. We will continue building strategic partnerships that will position SAIGA as the preferred professional body to serve the public interest through our MOU Partners. We will continue to build capacity within the broader public sector environment and expanding the Institute’s presence within the SADC region. SAIGA has multiple relationship across Africa through its relationship with PAFA, Afrosai, INTOSAI and recently the African Diplomatic Community. In order for SAIGA to serve as a platform for the development of public sector financial management capacity throughout Africa, we have launched the African Professionalisation Initiative programme in collaboration with Afrosai. Through this initiative, we are training public sector personnel, such as the staff of the Auditor General, and finance professionals throughout the continent. And finally, we are thrilled about our partnership with CIPFA, which will provide our members and our partners with excellent mobility options for capacity building. 

SAIGA President Phillip Rakgwale

www.saiga.co.za


Articles inside

Letter from the President

3min
page 6

CEO's Note

4min
page 8

Letter from the Editor

4min
page 10

Prevention is better than cure

7min
pages 12-16

Improving audit quality to address material irregularities

5min
pages 18-21

The Root Cause for Non-Implementation of Internal Audit recommendations

8min
pages 22-25

Evaluation of Accounting and Auditing Framework within the Quantum perspective

11min
pages 26-31

Our World is changing, and we must change with it.

8min
pages 32-36

7 Strategic Risks threatening the future of Internal Auditing

5min
pages 38-40

The Discourse of Budgetary Matters

10min
pages 42-46

NHI: Does it mean 31% more tax and 69% less benefits in return?

5min
pages 48-51

Unleashing the full potential of audit committees and internal audits

3min
pages 52-53

Navigating dynamic environments: Agile Auditing in the SA Public Sector

6min
pages 54-56

South Africa needs to face grid realities to overcome the power crisis

5min
pages 58-60

ASB: Simplifying and Enhancing Application of GRAB Standards

2min
page 61

SAIGA 2024 EVENTS

4min
pages 62-63

Politics: Will Parties move the needle in South African Politics

4min
pages 64-65

30 Years into Democracy: How has South Africa's Agricultural sector performed?

6min
pages 66-68

Dysfunctional Municipalities, Coalition Governments!

7min
pages 69-71

What do PFMA Audit Results Really Mean

10min
pages 72-76
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