11 January 2024
11
January 2024

Broadening the Accountancy Profession’s Reach in the Public Sector in South Africa

IFAC reports on how "the public sector is the biggest sector in the global economy and often the biggest employer. The scope of the public sector is very broad and includes national, regional and local government, and related governmental entities as well as sub-sectors such as health and education.

Given the scale and complexity of public finances, competing demands on public resources, and the need for transparency and accountability for the management of public funds, the demand for finances and accounting professionals is high. However, many jurisdictions at central and local government levels experience difficulties in finding suitable candidates with the right skills for finance and accounting positions."

IFAC writes that "to address these shortages, help drive effective public financial management (PFM), and respond to future needs of the public sector, there is an important need and opportunity for the accountancy profession to":

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