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Organisations – The ethic subject matter expert Clean audit matters
Conferences -Governance and Ethics subject matter expert
After a scandal. How many times have you heard NED say, they did not know this was happening, they relied on what management reported, the audit report was clean? Understanding combined assurance and how to eﬀectively use to ensure integrity in tabled reports – Eﬀective use of combined assurance Understanding the business – a continuous process beyond the board induction process.
Get that independent expert opinion Do we have an eﬀective company secretary? Navigating Board room dilemmas Managing Board room personality dynamics Another board appointment even when your plate is full…because you can do with a bit more money? Don’t do it!!!
i. My Flagship programme: Mission – Sustainable Clean Audit A 2 days Bespoke workshop programmes
i. Brief understanding the entity’s ﬁnance environment, internal control deﬁciency and overview of internal and external audit management report ii. Develop a bespoke programme: Two Sessions for: a. The ﬁnance and SCM teams b. The Management Team (with ﬁnance managers in attendance) Why you got the audit ﬁnding/ high level root analysis What are internal controls: It’s a full circle, you are an integral part of it The compliance factor – Watch out the new AG’s teeth…personal liability Performance reporting and ﬁnancial reporting: It’s is the same thing! Unauthorised expenditure – Really now…You can’t use what you don’t have. The use of variance reporting, variance explanations and forecasting to mitigate this Irregular expenditure? Don’t be lazy now…stream line the SCM process, whist ticking every box of the SCM treasury regulations and guidelines. Fruitless and wasteful expenditure – You have been reckless!.…If you were negligent then is coming oﬀ your pocket.
The ultimate public sector CFO ally, support and mentor Often times the daily demands on the CFO’s time, approving memos, procurement, bid committee meetings, budgets, management report and board paper preparation and attending meetings makes it impossible for them to focus on ﬁxing lacking controls and understanding audit ﬁnding root causes, let alone timeously deal with them and ﬁnding lasting solutions and internal controls to ensure that these are resolved once and for all.
This is where I come in, I am an ex- public sector CFO, I am providing a service/ support that I wished I had had. I am not a consultancy, pointing out what is wrong and thinking up ﬂimsy unimplementable textbook ideologies and solutions. I come in and partner with the CFO, become part of your team, obtaining understanding of the business, audit ﬁnding root causes, ﬁx and strengthen weak controls.
I become the CFO’s other eye, that ensures that the CFO’s reach is longer that his/her arm. I assist them to focus on what matters in order to ensure sustainable strong controls that support a PFMA compliant environment and clean annual ﬁnancial statement the support the CFO focusing on those GRAP standards that are applicable to your entity and elevating the CFO’s oﬃce critical success factors.
Ethics are the main pivots over which the businesses now revolve.
Ethics has taken the forefront in organisational governance. The King IV code, the ﬁrst 3 principles for leadership talk to ethics: Principle 1- The governing body should lead and ethically and eﬀectively. Principle 2 – The governing body should govern the ethics of the organisation in a way that supports the establishment of an ethical culture. Principle 3 – The governing body should ensure that the organisation is and is seen to be a responsible corporate citizen.
This is congruent with Section 195 of the Constitution in terms of which public administration must be governed by the democratic values and principles enshrined in the Constitution including that a high standard of professional ethics must be promoted and maintained.
Moreover, ethics governance and management are a legislative mandate for companies. The New Company’s Act makes it mandatory for State Owned entities to have Social and Ethics committee. Although NMISA is not a state-owned entity as deﬁned by the company’s act, as a consequence of their legal form, they are required to comply with the Companies Act.
The importance in enforcing ethical behaviour in the public sector is further elevated by Acts such as the Public Service Regulations, 2016 that regulates anti-corruption and ethics management practices and the Prevention and Combating of Corrupt Activities Act, 2004 that seeks to strengthen measures in the prevention and combating of corruption and corrupt activities.
With the ethics governance committee often, combined with the Social and at times the Human Resource governance; matters of ethics fall in the back banner. This is often since management do not have the necessary content, supported by a deﬁned ethics management function. They also do not have much of an idea of the ethics culture of the organisation and an ethics management strategy to work towards.