Community Schemes Ombud Service Act, 2011 (Act No. 9 of 2011)

Chapter 2 : Community Schemes Ombud Service

19. Functions of chief financial officer

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The functions of the chief financial officer are to—

(a)manage risk of the Service’s projects;
(b)assist the Board with regard to compliance with its duties in terms of the Public Finance Management Act;
(c)ensure that the Service has adequate income and liquidity to perform its functions;
(d)ensure that money payable to the Service is properly collected;
(e)ensure that there is adequate control over the assets acquired, managed or controlled by the Service;
(f)ensure that the liabilities incurred on behalf of the Service are properly authorised;
(g)ensure efficiency and economy of operations and avoidance of fruitless and wasteful expenditure;
(h)ensure that the financial system is in line with generally accepted accounting practices and procedures;
(i)ensure an adequate budgeting and financial system; and
(j)provide sound financial control systems for the Service.