December 2023

​​Describe TWO benefits of an integrated tax system to taxpayers in your country.

​​Explain TWO conditions under which each of the following methods of procurement may be used by public sector entities: 

​​In an extract from a public finance publication on “Effectiveness of Medium-Term Expenditure Framework (MTEF)”, the author noted that, the Medium-Term Expenditure Framework (MTEF) is considered appropriate in developing countries because there is fragile linkage between the budgeting system and planning. The MTEF is one of the aspects of public financial management, which incorporates planning into budgeting over the medium term. It should encourage ongoing reallocation and broaden the budgeting scope. The MTEF is meant to achieve a balanced budget, shift resources to pro-poor activities and further the practice of good governance. Despite being considered an aspect of effective budgetary management, it has been reported to be complex and challenging, even in developed countries. Public financial management experts criticise the MTEF and its implementation with the experts questioning MTEF effectiveness and reliability in guiding annual budget processes. Although the MTEF is argued to be complex, some public financial management experts argue that it is the contextual environment of the developing countries which constrains MTEF success. 

​​XYZ is a developing country and is struggling with the implementation of public finance reforms. You have been appointed to a taskforce to assess the challenges of implementing the reforms and offer possible solutions. 

​​You are an advisor of the National Treasury of your country, and you have been tasked with formulating a framework for national government borrowing. The government is seeking to strike a balance between funding critical projects and maintaining fiscal stability. There is a need for clear guiding principles to govern borrowing decisions. 

​​Your country is considering a large-scale infrastructure development aimed at upgrading the country's road network. Further, the project will be financed using a public private partnership model. 

​​During the annual audit committee master class held in your country, one of the speakers made the following observation; “Public sector stakeholders have different perceptions and criticisms on the effectiveness of audit committees and have often labelled audit committees as “talk shops”. 

Explain FOUR different types of public funds, citing how each contributes to the development in your country. ​​

​​Explain FOUR challenges faced in the management of state corporations by most developing countries.

​​Evaluate THREE guiding basic principles used by public entities in deciding whether money or sums should be applied as Appropriation-In-Aid as per Public Financial Management regulations.

​ ​​Analyse FOUR provisions relating to confidential reporting of unlawful acts by the Auditor General as provisioned by section 60 of the Public Audit Act.

​​In a public finance management seminar, one of the facilitators noted that “there are certain matters specified under Section 6 of the Public Finance Management (PFM) Act, 2012, where in case of any inconsistence with the PFM Act, the Act shall prevail”. 

​​Public Financial Management Regulation 170 (Risk based audit assessment strategic plan) requires that internal audit planning should be carried out on the basis of risk assessment and should be set out in a three-year strategic plan, on the basis of which an annual internal audit activity plan should be developed. 

​​Managing revenue in public finance at the county level can be a complex task, and executive committee members responsible for this area face several difficulties and challenges.