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Overview and Functions of the Finance Division

The Finance Division’s responsibility is to design and implement financial controls that ensure good financial governance and financial viability of the HWSETA as well as ensuring that funding is optimally used to drive the attainment of the strategic requirements.

All functioning of the Finance Division occurs within the compliance requirements of the Public Finance Management Act and Treasury Regulations. The key functions of the Finance Division:

  • Implement and strengthen internal control
  • Review, develop and implement finance policies
  • Monthly reporting on financial results
  • Procurement and recording of goods and services
  • Administration and guidance on tenders
  • Disbursement of mandatory and discretionary grant funding
  • Preparation of the Annual Financial Statements
  • Quarterly reporting on financial results
  • Operations budget preparation and monitoring
  • Risk and fraud prevention management
  • Internal audit function and Auditor-General audit co-ordination and support
  • Participate in Public Sector CFO forums
  • Strategic sessions to ensure strategic alignment to the strategy of the HWSETA
  • Monitoring and evaluation of grant funding
  • Asset Management
  • Reporting to the Audit Committee, Finance Committee, Governance Committee, Tender Standing Committee, ExCo and Board
  • Monitor, review, develop and implement measures to limit exposure to fraud and risk;

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