Introduction
  • Welcome
  • Introduction
  • Overview 
     Enterprise Risk Management
   Definition 
   • A systematic, integrated and formalised process to 
    identify, assesses, manage and monitor risks throughout 
    the Institution rather than only in selected business areas 
    or disciplines.
   Focus: 
   • Enterprise-wide or Institution-wide
   • Risk management throughout the institution 
   •  Not focused on selected business areas or disciplines
   PFMA Requirements for Risk Management
  Risk management contributions:
  • Section 38 (a) (i) & Section 51 (a) (i) of the PFMA  - need for 
   AO& Authorities of department, trading entity or constitutional 
   institution have and maintain effective, efficient and 
   transparent systems of financial and risk  management and 
   internal control.
  • Section 6 (2) (a) of the PFMA – NT norms and standards
  • Chapter 4 and 8 of the PFMA - financial planning, expenditure 
   and liability management 
               Intergovernmental Fiscal Relations Act 
                               (No. 97 of 1997) 
      Risk management contributions:
      •  Establishment , Functions , Meetings  of Local Government 
         Budget Forum 
      •  Process for revenue-sharing among the spheres of 
         government
      •  Revenue-sharing and allocation of money in terms of section 
         214 of Constitution
      •  Commission’s recommendations
      •  Division of Revenue Bill
          Intergovernmental Relations Framework Act 
                                (No. 13 of 2005)
              Risk management contributions:
              •  Development of intergovernmental structures such as 
                 President’s Co-ordinating Council, National 
                 intergovernmental forums, Provincial intergovernmental 
                 forums, Municipal intergovernmental forums
              •  Conduct of intergovernmental relations
              •  Settlement of intergovernmental disputes