BACKGROUND AND RELATIONSHIP BETWEEN NATIONAL TREASURY AND CIGFARO
While significant progress has been made with reporting in terms of the Municipal Finance Management Act, 2003 (Act No. 56 of 2003)(MFMA) and its Regulations (2009), there were still several challenges with the quality, reliability and overall credibility of municipal information.
In response to this challenge, the Minister of Finance approved publication of the Municipal Regulations on a Standard Chart of Accounts (mSCOA) (Notice No. 37577) on 22 April 2014. mSCOA prescribes the detailed (posting-level) accounts that must be used to capture transactions in the financial systems.
It was agreed that CIGFARO will create a trainers’ portal where recognized trainers (referred to as CIGFARO preferred trainers) can access the latest training materials, share proposals for improvements to the materials and upload training documents such as monthly training schedules, attendance registers, post-training evaluations and monthly training reports. This will allow both the National Treasury and CIGFARO to track training provided and exercise the relevant quality control processes required to ensure that the training provided is of a high quality.
Terms of Reference
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