Public Finance Management Act (PFMA) and Related Treasury Regulations

The programme

Programme overview

The Public Finance Management Act (PFMA) regulates financial management in the National and Provincial government spheres and Public Entities, to ensure that all revenue, expenditure, assets and liabilities of those governments are managed efficiently and effectively; to provide for the responsibilities of persons entrusted with financial management in those governments; and to provide for matters connected therewith.

Ratomac PFMA training requires National and Provincial government departments in South Africa to align their budgets to the achievement of their strategic plans. To achieve this, management in the public sector must be empowered to apply strategic and operational planning principles for effective public service delivery. The training references the Institutions’ 2026-2027 Strategic Plans, National Treasury MTEF, and Budget Guidelines for 2027-2030, and is designed to assist managers in the public sector to effectively apply the requirements of the PFMA, TR and other related legislation, as well as implement public financial management reform initiatives in the South African public sector.

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 key objectives of the Act are to modernise the system of financial management, enable public sector managers to manage while being more accountable, ensure the timely provision of quality information, and eliminate waste and corruption.

Who should attend

Who is this programme for?

This course is intended to build the capacity of employees working in all institutions listed in the Public Finance Management Act (PFMA), including those in senior, middle, and junior management positions (financial or non-financial managers):

• Government Officials
• Finance Professionals
• Auditors
• Policymakers
• Financial Consultants and Advisors
• Non-Governmental Organisations (NGOs) and Advocacy Groups

Learning outcomes

What you will learn

• Familiarise themselves with principles of sound Public Sector Financial Management
• Identify the roles and responsibilities of Line Managers regarding Public Financial Management
• Understand the core components of the PFMA and Treasury Regulations (TR)
• Link the budget to Strategic and Operational Planning within the MTEF (Medium Term Expenditure Framework)
• Apply a sound public financial management process regarding Revenue, Expenditure, Assets, and Liabilities, and prevent Unauthorised, Irregular and Wasteful Expenditure
• Identify and apply actions required for successful integration of the Supply Chain Management Model into a government department's management process
• Explain and apply the requirements of the PFMA and Treasury Regulations at a technical, working level
• Discuss the roles and responsibilities of the CFO and other key role players, ethical behaviour, and the principles of internal control
• Analyse audit outcomes and apply lessons from current AGSA reporting to strengthen audit readiness

Explore the programme

Detailed programme outline

2-Day Essentials — Training Outline

• Formulate linkages between the Constitution and the PFMA and explain the roles and responsibilities of the relevant treasuries
• The roles and responsibilities of key role players and the generic structure of the Office of the Chief Financial Officer
• Determine the implications of strategic planning, annual performance planning and budgeting in departments, constitutional institutions, and public entities
• Legislation, concepts, formats and timeframes for the strategic plan and annual performance plan, and their linkage to the budget
• The legislation, concepts, processes, formats and timeframes relating to budgeting processes applicable to national and provincial departments, including the current 2026-2027 Strategic Plans, National Treasury MTEF, and Budget Guidelines for 2027-2030
• The expenditure and revenue process and the recording of these transactions in the accounting system
• Manage the process of identification and accounting for unauthorised, irregular, fruitless and wasteful expenditure, and the reporting thereof
• The legislation, frameworks, processes and reporting relating to supply chain management and the application thereof

5-Day Comprehensive — Training Outline

The 5-Day Comprehensive combines five thematic sessions with five detailed capability modules, giving delegates both the applied working sessions and the full underlying legislative and technical depth.

• Brief overview of the PFMA
• Focus on Chapter 6, Public Entities — Sections 51 and 57
• Treasury Regulations, with focus on the relevant sections relating to Public Entities
• Audit outcomes for the financial year ended 31 March 2025, drawn from AGSA's 2024-25 Consolidated General Report on National and Provincial Audit Outcomes (media release 26 March 2026) — only 151 of 417 auditees (36%) achieved unqualified audit outcomes with no other matters (clean audits), underscoring the continued urgency of the practices covered in this course
• Discussion of the report's findings to help the Public Entity work toward a clean audit
• National Treasury Instruction No. 4 of 2022/23: Compliance and Reporting Framework
• Discovery and recognition of Irregular, Fruitless and Wasteful Expenditure
• Assessment, Determination, and Investigation
• Impracticability Judgement
• Management of losses
• Quarterly Reporting
• Annual Reporting guide: PFMA Compliance Report
• Procurement Regulations 2022 and Public Entities SCM policy, alongside awareness of the ongoing transition toward the Public Procurement Act, 2024 — described as the most significant procurement reform since the PFMA and MFMA, creating a single legal framework across all organs of state
• Contract management
• Discussion on the risk management process and identifying possible weaknesses in internal controls
• Discussion on any other areas the client requests
• Explain and apply the requirements of the Public Finance Management Act
• Explain and apply the requirements of the Treasury Regulations
• Discuss the roles and responsibilities of the CFO and other key role players
• Understand what constitutes ethical behaviour
• Demonstrate different types of fraud and corruption
• Describe the principles of internal control
• Identify the roles and responsibilities of internal audit and audit committees
• Identify the function of an external audit
• Analyse the different reports issued by the external audit
• Explain and discuss the strategic planning process, timeframes, formats and terminology
• Prepare the annual performance plan
• Interpret the relationship between strategic planning and budgeting
• Explain, interpret and apply relevant legislation, policies, frameworks and guidelines relating to budgeting
• Develop, implement and manage the MTEF budgeting process
• Manage the estimates of expenditure process
• Manage the submission of the monthly cash flow process
• Manage the adjustment estimates process
• Evaluate budgets and reprioritisation of funding
• Discuss the key concepts, definitions and legislation relating to payments and revenue
• Manage the process for verifying payments to source documentation to ensure payments are valid, authorised, classified and recorded correctly
• Understand how payroll transactions are accounted for in the accounting system
• Manage the process for the certification of payrolls
• Manage the process for transfer payments to ensure these are valid, authorised, classified and disclosed correctly
• Manage the process for the identification, collection, recording and reconciliation of revenue
• Understand supply chain management legislation, regulations, guidelines and Treasury Instructions
• Apply the phases of the SCM processes as per the SCM framework
• Complete the bidding and quotation processes
• Report and evaluate supply chain management processes

Learning approach

How you will learn

Our diverse instructional approaches ensure effective learning:

– Lectures & Presentations: Engage with expert-driven, stimulating content.– Course Material: Access well-crafted supporting resources.– Group Work: Collaborate on discussions and case studies for practical insights.– Workshops & Role-Play: Participate in immersive, scenario-based activities.– Practical Application: Focus on applying theoretical knowledge in real situations.– Post-Training Support: Receive extensive support after training for skill implementation.

Discuss your requirements

Dates, duration & arrangements

Contact Ratomac to confirm dates, duration, delivery format, entry requirements and any applicable assessment or certification before booking.