Skills Development Act, 1998 (Act No. 97 of 1998)

Constitutions

Constitution of the Safety and Security Sector Education and Training Authority (SASSETA)

Chapter Seven : Finances and Fiduciary Responsibilities

41. Financial and general responsibilities of Board
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41.1The Board must ensure that SASSETA has and maintains:
41.1.1effective, efficient and transparent systems of financial and risk management and internal control;
41.1.2a system of internal audit under the control and direction of an audit committee complying with the operating in accordance with regulations and instructions prescribed in terms of sections 76 and 77 of the Public Finance Management Act;
41.1.3an appropriate procurement and provisioning system which is fair, equitable, transparent, competitive and cost effective; and
41.1.4a system for properly evaluating all major capital projects prior to a final decision on the project.

 

41.2The Board must take effective and appropriate steps to:
41.2.1collect all revenue due to SASSETA; and
41.2.2prevent irregular expenditure, fruitless and wasteful expenditure, losses resulting from criminal conduct, and expenditure not complying with the operational policies ofSASSETA; and
41.2.3manage available working capital efficiently and economically.

 

41.3The Board is responsible for the management, including the safeguarding, of the assets and for the management of the revenue, expenditure and liabilities of SASSETA.

 

41.4The Board must comply with any tax, levy, duty, pension and audit commitments as required by legislation.

 

41.5The Board must take effective and appropriate disciplinary steps against any employee of SASSETA who:
41.5.1contravenes or fails to comply with a provision of the Act;
41.5.2commits an act which undermines the financial management and internal control system of SASSETA; or
41.5.3makes or permits an irregular expenditure or a fruitless and wasteful expenditure.

 

41.6The Board is responsible for the submission by SASSETA of all reports, returns, notices and other information to Parliament or the Minister, as may be required by the Public Finance Management Act.

 

41.7The Board must comply, and ensure compliance by SASSETA, with the provisions of the Public Finance Management Act and any other legislation applicable to SASSETA.