Financial reporting and the public finance management act (PFMA) in the Western Cape
Roman, Allan Donovan
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The study focused on financial reporting in the public sector with the view to understanding the impact of the present financial management system in South Africa is adding value to the measurable outcomes-based objective process as required by the Public Finance Management Act (PFMA). The study determines the role of the Medium-Term Expenditure Framework (MTEF) in financial reporting, in relation to the business plan (strategy) and measurable outcomes and results of the Department of Community Safety. The primary objective of this study was to perform an assessment of financial reporting and its effectiveness in terms of the PFMA as the legislative framework and the MTEF as a financial management tool. The secondary objectives were to: (1) to provide a theoretical perspective of public financial management and reporting in government; (2) to provide an verview of policies, legislation and strategies; (3) to record and develop a case study of financial reporting in the Western Cape Provincial Government within the Department of Community Safety (WCPG); (4) to present the research findings on financial management, and (5), to apply the theoretical framework to the case study in order to develop findings.