The Chartered Institute of Government Finance, Audit and Risk Officers (CIGFARO)

CIGFARO is the recognised professional body for finance, audit, risk management, performance management and related professionals in the public sector

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The institute was founded in 1929 and is dedicated to establishing and maintaining high standards of professionalism among practitioners by providing a framework for them to collectively enhance and maintain sustainable financial management and good governance in the management of public finances. CIGFARO is the South African Qualifications Authority (SAQA) recognised professional body for financial management in the public sector.

Core services and functions

Cigfaro strives to:

1. To further the interests of the Public Sector in the financial and related professions by:

  • Advising institutions, commissions and other bodies and persons
  • The training and advancing of knowledge of members of the institute
  • The promotion of the interests of the profession of public finance officers and related professions;

2. To promote the interests of finance and related professionals in the public sector and to protect the interests of the public through the strict enforcement of the Code of Conduct by embracing the following objectives:

  • Developing and registering appropriate qualifications
  • Registering qualifying professionals as its members
  • The constant renewing of members' registrations
  • Assessing and promoting programmes at institutions of higher learning
  • Regulating activities within the public sector’s finance profession and related professions via the Code of Conduct and a disciplinary procedure
  • Monitoring and tracking the continuing professional development of members
  • Developing and implementing a practical guideline, process enhancements and best practices; and
  • Making submissions pertaining to legislation and/or proposed legislation to sector departments as and when requested;

3. To consider, where necessary, research and comment on existing and proposed pieces of legislation affecting the public sector in the Republic;

4. To co-operate with any other professional body that is aimed at improving and enhancing public finance and governance, both in the Republic and internationally;

5. To advise the national and provincial government, related institutions and other recognised national associations on matters affecting the public sector;

6. To provide opportunities and platforms for an exchange of views, knowledge and best practices amongst members; and

7. To undertake research into public sector finance and governance in order to promote efficiency and enhance the available core body of knowledge.

CIGFARO's advisory functions

CIGFARO furthers the interests of the public sector in the financial and related professions by advising institutions, commissions and other bodies and persons. They advise the national and provincial governments, related institutions and other recognised national associations on matters affecting the public sector.

Training for their members

Training is provided on all aspects of local government with a focus on finance, auditing and risk issues. They are currently rolling out training on the Municipal Standard Chart of Accounts (MSCOA). Their conferences also assist with regard to the continuous professional development (CPD) of their staff. These conferences and training courses take place on a national and provincial basis.

The President of CIGFARO, Krish Kumar, says the goals for the institute during his tenure, which he hopes will add value to CIGFARO and their members, include the following key strategic issues:

1. Help public entities survive the current economic climate through economic growth, improved productivity, better collection rates, value for money and return on investment;

2. Assist in reducing the rate of rural-urban migration;

3. Enhance financial sustainability and viability

4. Commit to the triple bottom line—the assessment of all projects in terms of economic, social and environmental issues;

5. Ensure a balance in expenditure—social, economic, environmental and rehabilitative;

6. Optimise the use of technology and innovation;

7. Develop the skills and capacity of finance practitioners in the public sector;

8. Ensure maximisation of service delivery and provide cost-effective services;

9. Benchmark and ensure value for money is going to be one of the key focuses of his term as CIGFARO President.

“Whilst I appreciate that the National Treasury is working on this, I believe that CIGFARO and CFOs have an important role to play in driving and implementing this,” he concludes

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