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FULUFHELO TSHIKHUDO

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Supporting efficient and sustainable public financial ... The revised ERM ('Naganela Pele') Applicable to national, provincial & local government ... – PowerPoint PPT presentation

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Title: FULUFHELO TSHIKHUDO


1
PRESENTATION TO THE IPFA RISK MANAGEMENT TRAINING
PUBLIC SECTOR ERM FRAMEWORK
  • FULUFHELO TSHIKHUDO
  • DIRECTOR RISK MANAGEMENT
  • NATIONAL TREASURY (OAG-OFFICE)
  • 31 JULY 2008

2
OVERVIEW
  • Introduction
  • ERM Framework
  • What it aims to achieve
  • Way-forward
  • Panel Discussion/Questions and Answers

3
INTRODUCTION
  • Supporting efficient and sustainable public
    financial
  • management is fundamental to the promotion of
  • economic development, good governance, social
  • progress and a rising standard of living for all
    South
  • Africans.
  • The Constitution of the Republic (Chapter 13)
  • mandates the National Treasury to ensure
  • transparency, accountability and sound financial
  • controls in the management of public finances

4
INTRODUCTION(2)
  • National Treasury through the OAG aims to
  • ensure accountability to the general public by
  • promoting transparency effective management of
    Revenue Expenditure Assets Liabilities
    through promoting a culture of risk management in
    the public sector!

5
ERM FRAMEWORK
  • OAG developed a Risk Management framework (2004)
  • Purpose- provide a useful source of reference and
    guidance on risk manag. practices
  • The framework had sufficient technical
    information
  • Focused on the eight steps of the COSO framework
  • Challenges
  • Lack of implementation
  • Thick and not user friendly
  • Too technical
  • Roles and responsibilities not clearly defined

6
ERM FRAMEWORK (2)
  • FAQ
  • Methods/guidelines for performing effective risk
    management
  • Accountability of the CRO/ and RM unit
  • Responsibilities of the CRO
  • How to develop a risk strategy
  • Role of Audit Committee vs. Risk Committee
  • Internal audit responsibility in risk management

7
ERM FRAMEWORK (3)
  • The revised ERM (Naganela Pele)
  • Applicable to national, provincial local
    government
  • Objectives
  • Be user friendly (simple and avoid unnecessary
    technical jargons)
  • Clearly outline roles and responsibilities
  • Introduce appropriate practical guidance to
    simplify the implementation and maintenance of
    risk management.
  • Provide integrated user self tutoring features
  • Provide ready to use templates to support the
    ease of implementation
  • Incorporate other best practices identified by
    the OAG into the framework

8
ERM ARCHITECTURE
9
PROJECT OUTCOMES
  • Public sector ERM Framework
  • Guidebooks for different role players
  • -Executive Authority
  • -Accounting Officers
  • -Chief Risk Officer
  • -Risk Management Committee
  • -Internal Auditors
  • Templates
  • ERM policy, ERM strategy, RMC Charter, Fraud
    prevention policy
  • Implementation guidelines- using practical and
    relevant case studies

10
AIM TO ACHIEVE
  • Improve public sector risk management
    implementation
  • Improve the effectiveness of performance
  • Improved service delivery
  • Improvement in the utilization of resources
  • Improved institution performance
  • Improved audit opinions

11
WAYFORWARD
  • What is expected of stakeholders
  • Draft available on website http//oag.treasury.gov
    .za
  • Inputs by the 30 September 2008
  • Implement the framework
  • NT will
  • Publish the final version within 1 month of
    receiving inputs
  • Roadshows
  • Ongoing real time updates communication (users
    will need to register

12
CONTACT DETAILS
  • Fulufhelo.Tshikhudo_at_treasury.gov.za
  • Tel 012 315 5748
  • Fax 012 315 5890
  • Mobile 071 602 2455

13
PANEL DISCUSSION
  • THANK YOU
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