UJ secures SETA grant to advance the improvement of audit outcomes in the TVET colleges
Date: Jun 8, 2021 | News
The Education, Training and Development (ETD) sector SETA and the Financial Services SETA have awarded the School of Accounting within the College of Business and Economics (CBE) at the University of Johannesburg (UJ), with a grant worth R11 million to invest in the improvement of audit outcomes in the public sector, specifically the TVET Colleges.
The Faculty will use the grant to enhance its short learning programme offerings and training opportunities in the public sector.
“This grant will allow us to develop the interventions that will assist the TVET Colleges in improving their financial management skills, which is expected to improve the audit outcomes subsequently,” said Tankiso Moloi, a Professor in the Department of Accountancy. “In this regard, UJ will be providing support to 400 TVET Colleges finance personnel. Additionally, those TVET Colleges with qualified opinion (qualified report), disclaimer of opinion (disclaimer report), adverse opinion (adverse audit report) will benefit from mentoring.”
Prof Moloi says the grant will also be used to offer the short learning developing programmes in Supply Chain Auditing, Risk Management, Public Sector Accounting, Internal Auditing and Financial Controls, Performance Management and Compliance Auditing.
“This timely support will help us attain our mission of providing support to government and industry,” says Prof Daneel van Lil, Executive Dean of the College of Business and Economics. “We look forward to building on this partnership with SETA.”
As part of the additional grant from FASSET and ETDP-SETA, the school will offer mentorship in public sector accounting, risk management, internal audit and financial controls as well as the supply chain management to relevant TVET College finance professionals.
“This funding helps tremendously in our efforts to also strengthen the digital competencies of our students. Our team is excited to be part of the national efforts to improve financial management in the public sector, specifically in the TVET Colleges. We hope that the cohort of students from these programmes will go all the way to improve their respective systems of financial management and governance, which we hope will result in the decline in unauthorised expenditure, irregular expenditure, and fruitless and wasteful expenditure,” said Prof Moloi.
As a bonus, UJ’s 100% Online Bachelor of Commerce in Accountancy is available and encourages faculty and students to engage with the programme, which is an ideal option for career minded accounting and finance professionals.
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