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Public Finance Management Act, 1999 (Act No. 1 of 1999)

Understanding and Using this Act

Normative Measures For Financial Management

Phase 1 : Perfecting The Basics

7. Reporting requirements for financial management in the public sector

 

Financial management information must be supplied on a regular basis to management to facilitate objective corrective decisions where activities are not in line with the budget of the department.

 

Financial management information must be useful, reliable and timeous in support of the evaluation of performance.

 

Financial reports must conform to the standards of reporting identified by appropriate legislation.