Achieving a clean audit is a significant achievement because it trumpets the quality of public financial management and governance, especially in environments where limited resources are still expected to perform to their mandates and constituents’ expectations.
“Effective public financial management is critical to improve and maintain the quality of services to expectant communities. Good governance, accountability and transparency are the pillars of public service entities. Attaining a clean audit brings confidence and pride within the entity itself; the trust and goodwill of the community, and importantly it encourages investment, migration, and tourism”.
While the CFO plays a central and coordinating role in creating and maintaining a financially sound environment, each member of the entity – the Executive and all employees – accepts personal accountability for their role by understanding what is at stake for their municipality and its community. This means that a key contributor of performance extends to continuous learning and upskilling. The entire team must buy into the vision, values, and culture of a public sector entity.
“Successful public sector entities do not distinguish bet ween ‘us’ – the public servants – and ‘them’ – the public – but see themselves as one, making sure that they closely identify with the needs and expectations of their communities and perform accordingly”.