The management of public funds : an analysis of performance of the South African government

Legislation is an important element in ensuring accountability and transparency in the utilisation of public funds. However, as reflected in the State of the Public Service Report (2010 and published every five years), accountability is still a cause for concern and still needs greater attention as many departments still receive qualified, adverse or disclaimed audit opinions from the Auditor-General, pointing out serious financial mismanagement. This article explores the mechanisms available to facilitate accountability of public funds and will reflect on the outcomes of the general report on the National Audit Outcomes 2013/2014. The role of parliamentary committees will be highlighted, as they have complementary roles towards strengthening the ex post oversight process reflecting on accountability. Although the public financial management process enforces transparency and accountability, there are still shortcomings. The improvement of governance and financial accountability are of critical importance as the taxpayer, or the public, is eager to determine if public monies have been spent effectively and efficiently.