Understanding how financial management can be improved within the operations division at South African Revenue Services.
Year: 2015
Type: dissertation
Abstract: The study investigated how financial management can be improved in South African \nRevenue Services (SARS) Operations division. It underpins the need for SARS to \ncontinuously review procedures and actions in order to establish in which ways its \nOperation division can improve. In this case the focus is on financial management in \norder to improve effectiveness and efficiency in South African Revenue Service. The \nidentified problem statement is “what mechanisms are required to facilitate \ncontinuous improvement in financial management to keep SARS on the \ncutting edge of efficiency?” The financial management practice of Operation s is \ndiscussed, taking into account relevant literature; certain issues that concerned the \nresearcher are validated by participants while other issues were found not to be an \nissue. The study concludes with recommendations in order to improve the practice. \nThe research maintained objectivity by allowing participants to reflect and comment \non SARS Operations financial management as they see or experience it. The \nresearcher used a qualitative approach with empirical data being constructed from \ninterviews. \nData collection was done through reviewing past literature including documents \nregarding policies, standard operating procedure and relevant documents for SARS. \nSemi-structured one-on-one interviews were used to engage in dialogue with \nemployees in order to ascertain their views and attitudes. \nThe study highlighted that SARS Operation’s financial management faced many \nchallenges and establish what mechanisms are required to facilitate continuous \nimprovement in financial management to keep SARS on the cutting edge of \nefficiency. \nOperations division need to commission a benchmark exercise (both externally and \ninternally) to establish the most appropriate operating model, financial management, \nreporting and analysis in order to facilitate effective financial management.
Author: Dumisani Sipho. Dlamini
Language: English
Subfield: Accounting
Domain: Social Sciences
Open Access status: green
OpenAlex ID: W2413326078