Purpose
The qualification addresses the national government regulatory requirements for enhancing the financial competency of provincial and local government financial personnel as outlined below:
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The Public Finance Management Act, 1999: Competency Framework for Financial Management
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The Local Government Municipal Finance Management Act (MFMA), 2003: Municipal Regulations on Minimum Competency Levels for accounting officers, senior managers, finance officials, and other officials responsible for supply chain management of municipalities and municipal entities
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Sections 83, 107 and 119 of the MFMA require officials to meet prescribed competency levels in financial and supply chain management, read with the Municipal Regulations on Minimum Competency Levels
- The performance management regulations issued under the Municipal Systems Act by the Department of Provincial and Local Government
- Various other competency requirements for public and municipal finance
Rationale
The rationale for this qualification is as follows:
- To address the anomaly in the qualification labor market and provide time-bound financial management capacity solutions to the public and municipal finance challenges of the Limpopo Province
- Labor market signals indicate shortages of Accountancy skills of up to 22,000, despite relatively high levels of unemployment among black graduates in relevant fields
- There is a mismatch between the skills and experience required by employers and those available in the labor market
- Potential candidates, especially young graduates from disadvantaged backgrounds, face challenges in gaining work experience and matching with employers
- The Honours program, specifically its module on work-integrated learning, aims to bridge these gaps and provide practical solutions to the identified issues.