by Tech Talk | Mar 21, 2024 | Articles
Today, the Southern African Institute of Government Auditors (SAIGA) has joined in the country-wide celebrations of Human Rights Day with a focus on auditors for accountability and human rights.
Guided by the theme “Three Decades of Respect for and Promotion of Human Rights”, President Cyril Ramaphosa will on Thursday deliver the keynote address at the 2024 Human Rights Day commemoration to be held at the George Thabe Stadium in Sharpeville, Gauteng.
SAIGA’s Chief Executive Officer, Russell Morena says that as an organisation dedicated to promoting good governance and transparency in the public sector, SAIGA recognises the importance of upholding human rights in all facets of society, particularly within government institutions.
Human Rights Day commemorates the Sharpeville massacre on March 21, 1960, when unarmed demonstrators were shot and killed by police during a peaceful protest against apartheid pass laws.
This day, therefore, serves as a reminder of the struggles and sacrifices made by those who fought for human rights and equality in South Africa. It also symbolises the ongoing commitment to upholding human rights in the country and serves as a call to action for all South Africans to work towards a just and equitable society.
“As auditors, SAIGA members play a crucial role in promoting accountability, transparency, and good governance within the public sector. They are responsible for ensuring that government funds are used efficiently and effectively, and that public institutions adhere to ethical and legal standards. By holding public officials and institutions accountable, auditors contribute to the protection and promotion of human rights, as they help to prevent corruption, the misuse of funds, and other malpractices that can undermine the rights of citizens,” says Morena.
He says SAIGA celebrates Human Rights Day by reaffirming its commitment to promoting accountability and human rights in the public sector. “Through its training programmes, advocacy efforts, and professional development initiatives, the organisation equips its members with the knowledge and skills needed to effectively carry out their responsibilities as auditors. This includes conducting thorough and independent audits, reporting on findings, and recommending corrective actions to ensure that public resources are used for the benefit of all South Africans,” Morena adds.
In addition to its direct work in the public sector, Morena further says that SAIGA also partners with civil society organisations, human rights groups, and other stakeholders to advocate for good governance and transparency. “By collaborating with these groups, SAIGA contributes to the broader human rights agenda in South Africa, amplifying the impact of its efforts and fostering a culture of accountability across the country,” Morena says.
On this Human Rights Day, South Africans must all continue to uphold the values of justice, equality, and respect for human dignity. “SAIGA’s work in this regard is crucial to achieving these goals. Let us all work together to ensure that the principles of Human Rights Day are upheld throughout the year, and that the legacy of those who fought for human rights in South Africa is honoured through our commitment to accountability and transparency,” concludes Morena.
by Tech Talk | Mar 15, 2024 | News
The Southern African Institute of Government Auditors (SAIGA) recognises and supports the annual celebration of World Consumer Rights Day on March 15. This global event aims to raise awareness about consumer rights and needs, and is aligned with SAIGA’s commitment to promoting good governance and accountability.
The theme for World Consumer Rights Day 2024, “Fair and Responsible AI for Consumers,” is particularly relevant in the contemporary era where artificial intelligence (AI) is increasingly shaping products and services. As AI becomes more prevalent in various industries, it is essential to ensure that it is developed and used ethically, respecting the rights and needs of consumers.
SAIGA emphasises the importance of ethical artificial intelligence (AI), as it can have a significant impact on consumer rights. AI has the potential to transform the way businesses interact with consumers, from personalised recommendations to automated customer service. However, there are concerns about the potential misuse of AI, such as bias in algorithmic decision-making, privacy violations and lack of transparency in AI systems.
In the context of consumer rights, the Chief Executive Officer of SAIGA, Russel Morena speaking on the sidelines of the SAIGA Audit and Finance Indaba, which took place at the Investec Pretoria Office on Friday said that there are several key principles that should guide the development and use of AI. Firstly, he said AI systems should be designed to ensure fairness and non-discrimination, avoiding bias in decision-making processes. This is especially important in areas such as credit scoring, hiring processes, and criminal justice, where AI systems can amplify existing inequalities.
Secondly, Mr Morena said consumer privacy should be safeguarded in the use of AI. As AI systems often rely on large amounts of personal data, there is a risk of privacy violations if proper safeguards are not in place. Consumers should have control over their personal data and be informed about how it is being used in AI systems.
Transparency is another essential principle for ethical AI. Consumers should be able to understand how AI systems make decisions that affect them and have access to information about the use of AI in products and services. This transparency is crucial for building trust and accountability in the use of AI.
“SAIGA also recognises the need for responsible AI governance, which involves setting clear standards and guidelines for the development and use of AI. This should involve collaboration between governments, industry, and civil society to ensure that AI is used in a way that benefits consumers and society as a whole,” said Morena.
In summary, World Consumer Rights Day serves as an important reminder of the need to prioritise consumer rights in the development and use of AI. SAIGA supports the theme of “Fair and Responsible AI for Consumers” and advocates for ethical AI that respects consumer rights.
“By upholding principles of fairness, privacy, transparency and responsible governance, AI can be a force for positive change that benefits consumers and society,” Morena concluded.
by Tech Talk | Mar 12, 2024 | Articles
The Southern African Institute of Government Auditors’ (SAIGA) inaugural Audit and Finance Indaba is an important event for auditors and finance professionals in South Africa. Themed ‘The Era of Big Data and Cybercrime’, this year’s Indaba reflects the growing importance of these two factors in the field of auditing and finance.
As the industry professionals count down the days to the Indaba, which is scheduled to take place at the Investec Pretoria Office on Friday, 15 March 2024, the SAIGA Chief Executive Officer, Russel Morena, writes about the risks, changes as well as the opportunities presented by big data and cybercrime in the field of auditing and finance in South Africa.
Big data has become a significant factor in the field of auditing and finance in recent years. With the advent of technology, companies and organisations are generating a huge amount of data every day. This data can be used to make informed financial decisions and to identify potential risks and opportunities. Auditors can use big data to improve the accuracy and effectiveness of their audits, leading to better financial governance and decision-making.
However, with the rise of big data, the risk of cybercrime has also increased. Cybercrime poses a significant threat to the financial and auditing sector in South Africa. Cybercriminals can steal sensitive financial information, disrupt financial systems, and even manipulate data for their own gain. Auditors and finance professionals need to be aware of these threats and take steps to protect their data and systems from cyber attacks.
The Indaba will present several opportunities for auditors, accountants and the finance sector professionals in South Africa. Firstly, it will provide an opportunity for them to learn about the latest developments in big data and cybercrime and how these factors are impacting the field of auditing and finance. They can gain insights into best practices for using big data in their audits and learn about the latest strategies for dealing with cybercrime.
Secondly, the theme also presents an opportunity for auditors and finance professionals to network with their peers and experts in the field. By exchanging ideas and experiences, they can gain a better understanding of how other professionals are using big data and combating cybercrime in their work. This can lead to valuable collaborations and partnerships that can benefit the entire industry.
Finally, the theme of the event will also provide an opportunity for auditors and finance professionals to showcase their own work and research in the field of big data and cybercrime. They can present their own strategies and solutions for using big data in audits and for protecting financial systems from cyber attacks. This can help to raise awareness of the importance of these factors in the industry and encourage more professionals to take them seriously.
The Institute has lined up high-profile speakers, who include Accountant General of South Africa and keynote speaker Shabeer Khan, Phillip Rakgwale, the Chief Audit Executive (Acting) City of Ekurhuleni, SAIPA Executive Prof Rashied Small, Accounting Standard Board CEO Jeanine Poggiolini, Sunday Times Deputy Editor Makhudu Sefara, Omar Kadwa, the Director at SNG Thornton and the CEO of IRBA, Imre Nagy, among others.
Rakgwale will give a presentation on ‘Emerging trends on public sector audits in the past three years (2021-2023) both PFMA and MFMA’ while Nagy, will speak about the journey of rotational audits in South Africa: challenges & success stories.
In conclusion, the theme of The Era of Big Data and Cybercrime at the SAIGA Inaugural Audit and Finance Indaba presents significant changes and opportunities for auditors and finance professionals in South Africa. By embracing big data and addressing the challenges of cybercrime, they can improve the effectiveness and accuracy of their audits and financial decision making. This event provides a valuable platform for them to learn from experts, network with their peers, and showcase their own work in this important and evolving field.
by Tech Talk | Mar 4, 2024 | Articles
Johannesburg – The Southern African Institute of Government Auditors (SAIGA), in partnership with Investec, is pleased to announce that it will be hosting its inaugural Audit and Finance Indaba. The prestigious event, which is billed to bring together leading auditors and financial professionals from across the continent to discuss the latest trends, developments, and best practices in the field, is scheduled to take place at the Investec Pretoria Office on Friday, 15th of March 2024.
The Institute has lined up high-profile speakers, who include the Accountant General of South Africa and keynote speaker Shabeer Khan, Phillip Rakgwale, the Chief Audit Executive (Acting) City of Ekurhuleni, SAIPA Executive Prof Rashied Small, Accounting Standard Board CEO Jeanine Poggiolini, Sunday Times Deputy Editor Makhudu Sefara, Omar Kadwa, the Director at SNG Thornton and the CEO of IRBA, Imre Nagy, among others.
Rakgwale will give a presentation on ‘Emerging trends on public sector audits in the past three years (2021-2023) both PFMA and MFMA’ while Nagy, will speak about the journey of rotational audits in South Africa: challenges & success stories.
The theme for Indaba is, ‘The Era of Big Data and Cybercrime’ and as part of the programme, SAIGA will also host a dedicated exhibition booth, where attendees can learn more about the professional body’s initiatives, publications, and training programmes. In addition to insightful discussions and networking opportunities, the half-day hybrid event will offer attendees a chance to earn Continuing Professional Development (CPD) hours.
There will be six CPD hours allocated to registered participants.
Russel Morena, the SAIGA Chief Executive Officer, said: “One of the cornerstones of the institute is to be a trusted advisor and capacity-building partner to the public sector in areas related to development, service delivery, accountability, and governance, and to protect the interests of the public sector accounting and auditing. Therefore, this inaugural SAIGA Audit & Finance Indaba is inspired by the INTOSAI and IFAC ever-evolving standards and the South African legislative and Treasury frameworks.’
As the premier professional body for government auditors in the Southern African region, SAIGA is dedicated to fostering excellence and integrity in the public sector. Through this event, SAIGA aims to provide a platform for engaging with industry peers, exchanging knowledge and insights, and gaining valuable perspectives on the challenges and opportunities facing the profession.
Morena added that the indaba, which will focus on the external audit and finance areas that impacts public entities and the role of the professional auditors and accountants, will offer a unique opportunity for SAIGA members, stakeholders, partners, and industry professionals to network, learn and contribute to the global conversation on government auditing and finance.
“We are excited to invite all industry professionals and stakeholders to join us at the Inaugural SAIGA Audit and Finance Indaba and we are confident that this event will contribute to the global conversation on government auditing and finance and showcase SAIGA’s expertise and thought leadership in the field. We look forward to welcoming you in Pretoria,” said Mr. Morena.
by Tech Talk | Feb 27, 2024 | Articles
Minister of Finance, Mr. Enoch Godongwana made a lot of promises and announced a raft of budget allocations that will be going to state-owned entities as well as provinces including municipalities in his 2024 Budget Speech. The Southern African Institute of Government Auditors (SAIGA), Chief Executive Officer, Russel Morena, delves deeper into the Budget Speech and explores the question of whether or not South Africa can succeed in overcoming these challenges.
Morena argues that there are not only many weaknesses in the South African system but also he points to the challenges, the main one being that of economic growth and employment creation. On the other hand, it is the performance of the state and service delivery, and on top of it all is the debt burden that seems to be increasing every year.
According to Morena, it is clear that South Africa is facing significant challenges on multiple fronts. “The economy is struggling to achieve sustained growth, and this is further compounded by the need for job creation. Additionally, the performance of the state as well as service delivery has been a cause for concern. The mounting debt burden is placing a significant strain on the country’s financial resources,” says Morena.
Although he admits South Africa is taking steps in the right directions, Morena, however, points out that the country is really in survival mode, and when looking at this budget and the fact that the minister had to dip into the golden reserve account in order to keep State date debt under control and reduce the borrowing requirement to levels that wouldn’t scare the living daylights out of ordinary citizens, is a clear indication of exactly how tight things are.
Morena, in his analysis of the Budget Speech, does acknowledge the efforts being made to address these challenges, however, he expresses a sense of a lack of urgency and the need for decisive action. He also states that the decision to tap into the country’s reserve account to keep the state debt under control is indicative of the tight fiscal environment and the need for prudent financial management, pointing out that while this may be a necessary step it could underscore the severity of the financial constraints facing the country.
Moreover, Morena highlighted the need for effective policy implementation, particularly in key sectors such as electricity, rail and port infrastructure. While the government may have the right policy framework in place, he says the pace of implementation has been slow, hindering progress and economic development. “This “two steps forward, one step back” approach is a cause for concern and underscores the need for greater efficiency and expediency in driving economic reforms,” explains Morena.
As auditors, Morena says: “We are calling for a more holistic approach to addressing the challenges facing our economy. This includes not only looking at tax policy and revenue collection but also addressing the issues of state capacity, infrastructure investment and economic growth. As SAIGA, we believe that a collaborative effort between government, business and civil society is needed to drive sustainable economic development and create opportunities for all citizens. This will require a comprehensive and coordinated approach that tackles the root causes of inequality and unemployment, while also ensuring efficient and transparent public expenditure.”
Morena further adds that the Institute will continue to monitor closely the country’s economic and fiscal landscape and provide valuable insights to support informed decision-making and policy formulation. With concerted and strategic efforts, he says it is hoped that South Africa will be able to overcome the financial obstacles and achieve sustainable economic growth and development.
