Responsibilities of an Accounting Officer | Quick Guide for Accounting Officers as per PFMA and MFMA

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Sections 38 - 43 of Public Finance Management Act ( PFMA 1999) stipulates responsibilities of Accounting Officers of government departments, trading entities and constitutional institutions:
• Accounting Officers are responsible for ensuring effective and efficient and transparent finance management of their institutions.
• Accounting Officers must set up relevant systems such as internal audit and procurement for this purpose
• Accounting Officers must enforce budgetary control ensuring that expenditure is in accordance with the vote of the department and the main divisions within the vote
• Accounting Officers must keep full and proper records of the financial affairs of the department and prepare annual financial statements and submit to the Auditor General for auditing and the Treasury for consolidation
• Accounting Officers must prepare and submit cash flows to the treasuries, which they should report on monthly and quarterly.
• Accounting Officers are also obliged to supply information as requested by the NT and AG
• Accounting Officers must also oversee the effective management of the institutions’ assets and liabilities

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1:10 General Responsibilities of an Accounting Officer
1:19 Public Financial Management
1:34 Inter-Departmental Transactions
2:11 Debt Management
2:36 Banking and Cash
3:09 Unauthorised Irregular Fruitless and Wasteful expenditure
3:54 Gifts, Sponsorships and Payments
4:47 Safeguarding of Financial Records
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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.