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Implementing & Evaluating Risk Management and Internal Control in the Public Sector: The South African Experience

This presentation explores the background, process framework, drivers, enablers, implementers, monitoring and evaluation, and tools involved in implementing and evaluating risk management and internal control activities in the South African public sector.

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Implementing & Evaluating Risk Management and Internal Control in the Public Sector: The South African Experience

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  1. IMPLEMENTING & EVALUATING RISK MANAGEMENT AND INTERNAL CONTROL ACTIVITIES IN THE PUBLIC SECTOR The South African Experience OAG-INTERNAL AUDIT SUPPORT Presenter: Fortunate Myeza| National Treasury

  2. CONTENT OUTLINE • Background • Process framework • Drivers • Enablers • Implementers • Monitoring and Evaluation • Tools

  3. Background • Risk management (RM) and internal control (IC) is regulated • RM and IC is the responsibility of the Accounting Officer • Section 38 1(a) (i) of PFMA state that “The accounting officer for a department, trading entity or constitutional institution must ensure that that department, trading entity or constitutional institution has and maintains— effective, efficient and transparent systems of financial and risk management and internal control”

  4. Process framework • Internal Environment • External Environment • Objective Setting • Risk Identification • Risk Assessment • Control Activities • Risk Response • Information and Communication • Monitoring and Reporting

  5. Drivers • Service Delivery Imperative • Legal Framework • PFMA & Treasury Regulations • Constitution • Guidelines & Best Practice • King Report on Corporate Governance • Public Sector RM Framework • ISO 31000 – Risk Management • COSO Enterprise Risk Management -Integrated Framework • Internal control framework

  6. Enablers • Enterprise Risk Management Policy • Enterprise Risk Management Framework • Enterprise Risk Management Strategy • Internal Control Policy • Internal Control Framework

  7. Implementers • Accounting Officer • Risk Owners • Management • Other Personnel • Enterprise Risk Management Unit • Internal control unit

  8. Monitoring and Evaluation • Assurance • Internal Audit • Auditor General SA (External Audit) • Line Management Monitor • National Treasury (Office of the Accountant General) • Presidency ( DPME)

  9. Tools • Information Systems • Templates • Communication Mechanisms • Research and Development • Evaluation tool

  10. CONCLUSION

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