PRESS RELEASE

SAIGA Auditing and Accounting Indaba Highlights the Importance of Interdisciplinary Approaches to Financial Management and the Fight Against Corruption

FOR IMMEDIATE RELEASE

14 March 2025  |  Pretoria, South Africa 

The SAIGA Auditing and Accounting Indaba held on 14 March brought together leading professionals and experts to address critical issues impacting the South African economy, particularly fiscal decentralisation, capital investments and the destructive consequences of fraud and corruption.

The theme of this year’s Indaba, “Interdisciplinary Approaches to Financial Management and Analysis: Fiscal Decentralisation and Capital Investments,” was pivotal in understanding the complexities of public sector financial management. The discussions emphasised the urgent need for accountability, transparency, and the professionalisation of financial practices at all levels of government to combat the pervasive risks of fraud and financial misconduct.

Meritocracy must be prioritised to ensure the success of fiscal decentralisation. As South Africa moves toward decentralising fiscal management, there is a growing need for skilled and ethical professionals to ensure that financial transactions are handled responsibly and efficiently. An increase in the number of parties involved in the financial management process leads to more exchanges and a higher risk of fraud and corruption. Therefore, ensuring that only qualified and competent individuals are appointed to manage public funds is critical to the success of fiscal decentralisation.

The ACFE SA believes that if the right people are appointed in the right places, fiscal decentralisation has the potential to make a significant positive impact on the economy. “With over 400 municipalities in South Africa, each facing unique challenges, a centralised model often fails to meet their needs”, says Reece Pillay, one of the panellists. Properly trained professionals can ensure that funds are allocated in ways that truly benefit each municipality and foster sustainable development.

A merit-based system could help address the nation’s unemployment crisis. When unqualified individuals are placed in management roles, or skilled individuals are unemployed, it creates an imbalance in the economy. A meritocratic approach ensures that the right people are in the right positions, strengthening public administration and the country’s economic landscape.

Longstanding Memorandum of Understanding (MoU) partners, the ACFE SA and SAIGA, have long advocated for the professionalisation of the auditing, accounting and forensic fields. Their collaborative efforts have focused on upskilling professionals and strengthening the public sector’s ability to combat financial fraud.

Furthermore, the ACFE SA has expanded its impact with MoUs with the National School of Government (NSG) and the Local Government Sector Education and Training Authority (LGSETA), further solidifying its commitment to driving change within the public sector.

“Together with our partners like SAIGA, NSG, and LGSETA, we are working toward a fraud-free future,” said Jaco de Jager, CEO of the ACFE SA. “By promoting meritocracy and professionalisation across all levels of government, we are confident that South Africa can build a strong economic foundation for future generations. This will create a sustainable environment where young people can thrive and contribute to the country’s long-term economic goals.”

In our continued partnership as MoU partners, the ACFE SA has played an integral role in the registration process of SAIGA's qualification. As part of this collaboration, it was agreed to incorporate fraud prevention and detection into the curriculum. This initiative is essential in ensuring that government auditors possess the necessary skills to effectively identify and address fraud within the public sector.

About the ACFE SA

The Association of Certified Fraud Examiners South Africa (ACFE SA) is a global leader in anti-fraud education and the certification of fraud examiners. ACFE SA strives to educate and empower professionals to combat fraud and corruption in both the public and private sectors.

ABOUT SAIGA

The Southern African Institute of Government Auditors (SAIGA) is a professional organisation dedicated to the advancement of public sector auditing and financial management. SAIGA supports the professional development of auditors and accountants through training, resources, and advocacy.

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For more information or media inquiries, please contact:

Zanél Jordaan - ACFE SA Branding & Communications Officer

+27 (0)12 346 1913 | zanel@acfesa.co.za | acfesa.co.za