Audit committee effectiveness in an Eastern Cape provincial department
- Authors: Koranteng, Isaac
- Date: 2015
- Subjects: Audit committees -- South Africa -- Eastern Cape
- Language: English
- Type: Thesis , Masters , MBA
- Identifier: http://hdl.handle.net/10948/4045 , vital:20507
- Description: The discussion on the extent to which audit committees perform the oversight function of financial governance is important. This is particularly so in the Eastern Cape where the implementation of the Public Finance Management Act (PFMA) of 1999 has not significantly improved financial management. The deteriorating financial management environment of provincial departments impacts negatively on service delivery and is therefore a matter of great concern to the political administrators at both national and provincial levels. The objective of this study is to determine how effective audit committees are in Eastern Cape provincial departments and how this translates into good financial governance and, ultimately, improved service delivery. To achieve this objective, a literature review of the link between audit committee effectiveness, accountability and corporate governance in the public sector was conducted. It was found that audit committees in the public sector have similar responsibilities to that of the private sector and lack of accountability in the public sector impacts negatively on service delivery. A second literature review was conducted to highlight the current state of public financial management in South Africa and how this has had an impact on financial management in Eastern Cape provincial departments. A qualitative research methodology was applied because the researcher is of the opinion that the research question asked is more interpretive than predictive. An interview survey was conducted in which senior management officials were selected from provincial departments and interviewed using semi-structured questions. The research study concluded, that provincial departments in the Eastern Cape have all established audit committees in line with the Public Finance Management Act (PFMA) National Treasury regulations. These committees are however ineffective. Ineffectiveness is as a result of, among other factors, lack of stability in accounting officer and chief financial officer positions. Secondly, senior management have not been made to account for the persistent negative audit outcomes in their departments. The research recommends that the political leadership of the province should ensure stability in leadership, particularly in the position of accounting officer and the chief financial officer.
- Full Text:
- Date Issued: 2015
- Authors: Koranteng, Isaac
- Date: 2015
- Subjects: Audit committees -- South Africa -- Eastern Cape
- Language: English
- Type: Thesis , Masters , MBA
- Identifier: http://hdl.handle.net/10948/4045 , vital:20507
- Description: The discussion on the extent to which audit committees perform the oversight function of financial governance is important. This is particularly so in the Eastern Cape where the implementation of the Public Finance Management Act (PFMA) of 1999 has not significantly improved financial management. The deteriorating financial management environment of provincial departments impacts negatively on service delivery and is therefore a matter of great concern to the political administrators at both national and provincial levels. The objective of this study is to determine how effective audit committees are in Eastern Cape provincial departments and how this translates into good financial governance and, ultimately, improved service delivery. To achieve this objective, a literature review of the link between audit committee effectiveness, accountability and corporate governance in the public sector was conducted. It was found that audit committees in the public sector have similar responsibilities to that of the private sector and lack of accountability in the public sector impacts negatively on service delivery. A second literature review was conducted to highlight the current state of public financial management in South Africa and how this has had an impact on financial management in Eastern Cape provincial departments. A qualitative research methodology was applied because the researcher is of the opinion that the research question asked is more interpretive than predictive. An interview survey was conducted in which senior management officials were selected from provincial departments and interviewed using semi-structured questions. The research study concluded, that provincial departments in the Eastern Cape have all established audit committees in line with the Public Finance Management Act (PFMA) National Treasury regulations. These committees are however ineffective. Ineffectiveness is as a result of, among other factors, lack of stability in accounting officer and chief financial officer positions. Secondly, senior management have not been made to account for the persistent negative audit outcomes in their departments. The research recommends that the political leadership of the province should ensure stability in leadership, particularly in the position of accounting officer and the chief financial officer.
- Full Text:
- Date Issued: 2015
The role of local economic development funded projects in Stutterheim
- Authors: Hanisi, Knowell Mtutuzeli
- Date: 2015
- Subjects: Economic development projects -- South Africa -- Eastern Cape , Poverty -- South Africa -- Eastern Cape
- Language: English
- Type: Thesis , Masters , MA
- Identifier: http://hdl.handle.net/10948/9339 , vital:26582
- Description: The purpose of this study was to investigate the of a role of local economic development (LED) project in the rural town of Stutterheim, with reference to Mgwali Cultural Village and Abenzi Woodhouse project in town. The main objective was to gain understanding as to whether these LED projects have contributed to the positive change in the socio-economic conditions of rural people in the area. The study also sorts to ascertain and understand at challenges the projects face and the role played by various government departments, and private sector organisations in supporting the projects. In depth case study was used in the study involved various data collection instruments, tools like interviews, questionnaire and observations. Findings suggest that if LED projects are properly managed and supported, they can play a vital role in poverty alleviation in rural areas. They can provide employment and can definitely improve socio-economic conditions.
- Full Text:
- Date Issued: 2015
- Authors: Hanisi, Knowell Mtutuzeli
- Date: 2015
- Subjects: Economic development projects -- South Africa -- Eastern Cape , Poverty -- South Africa -- Eastern Cape
- Language: English
- Type: Thesis , Masters , MA
- Identifier: http://hdl.handle.net/10948/9339 , vital:26582
- Description: The purpose of this study was to investigate the of a role of local economic development (LED) project in the rural town of Stutterheim, with reference to Mgwali Cultural Village and Abenzi Woodhouse project in town. The main objective was to gain understanding as to whether these LED projects have contributed to the positive change in the socio-economic conditions of rural people in the area. The study also sorts to ascertain and understand at challenges the projects face and the role played by various government departments, and private sector organisations in supporting the projects. In depth case study was used in the study involved various data collection instruments, tools like interviews, questionnaire and observations. Findings suggest that if LED projects are properly managed and supported, they can play a vital role in poverty alleviation in rural areas. They can provide employment and can definitely improve socio-economic conditions.
- Full Text:
- Date Issued: 2015
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