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Key Objectives Of The Public Finance Management Act (PFMA)
1. Modernise the system of financial management
2. Enable public sector managers to manage, but at the same time to be accountable
3. Ensure timely provision of quality information
4. To eliminate waste and corruption in the use of public assets
Benefits Of The PFMA are as follows:
1. The PFMA enables Accounting Officers to manage but, at the same time, holds them accountable for the resources they use.
2. The PFMA also establishes clear lines of accountability and broad frameworks of best practices that managers can adopt or, where necessary, adapt.
For a longer video on the PFMA, please check out the following link: • Introduction To PFMA |...
Disclaimer:
This publication and the information included in it are not intended to serve as a substitute for consultation with a professional. Specific issues, concerns and conditions always require the advice of an appropriate professional advisor. The use of the contained information is at the user's own discretion.