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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

 

41.1 The Board must ensure that SASSETA has and maintains:
41.1.1 effective, efficient and transparent systems of financial and risk management and internal control;
41.1.2 a 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;
41.1.3 an appropriate procurement and provisioning system which is fair, equitable, transparent, competitive and cost effective; and
41.1.4 a system for properly evaluating all major capital projects prior to a final decision on the project.

 

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

 

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

 

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

 

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

 

41.6 The 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.

 

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