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Office of the CFO

The office of the Chief Financial Officer (CFO) consists of three units namely Finance, Enterprise Risk Management (ERM) and Supply Chain Management (SCM).

The (PFMA) prescribes that the Board for a public organisation must ensure that the public organisation has and maintains effective, efficient, and transparent systems of financial, risk management, and internal control.

The Finance Unit is concerned primarily with the financial wellbeing of the HSRC. For this reason, Finance policies and procedures will be applied equally and without favour to all HSRC personnel and to HSRC suppliers and service providers.

Personnel and individual units within the HSRC are expected to comply with the policies and procedures and to “self-police” their individual compliance.

In brief:

  • All employees, creditors and debtors of the HSRC are expected to abide by the approved policies and procedures;
  • Employees in the Finance Unit will, as far as possible, monitor compliance on behalf of the Chief Financial Officer.

 

Enterprise Risk Management (ERM) is a structured, consistent, and integrated approach that aligns strategy, processes, people, technology, and knowledge to minimise risks to corporate goals and maximise the achievement of objectives. Its purpose is to evaluate and manage the uncertainties HSRC faces to maximize opportunities.

The Board has committed HSRC to a process of risk management that is aligned to the principles of good corporate governance, as supported by legislation and leading practice

The responsibility of implementing the SCM function within the HSRC is informed by the mandate of National Treasury, through section 217 of the Constitution of the Republic of South Africa Act, 1996 (Act 108 of 1996).

The goal of the SCM unit is to provide a mechanism that ensures sound, sustainable and accountable supply chain management within HSRC, whilst promoting black economic empowerment principles in procurement practices that is fair, transparent, equitable, competitive, and cost-effective.

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