Understanding how financial management can be improved within the operations division at South African Revenue Services.
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Date
2013
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Abstract
The study investigated how financial management can be improved in South African
Revenue Services (SARS) Operations division. It underpins the need for SARS to
continuously review procedures and actions in order to establish in which ways its
Operation division can improve. In this case the focus is on financial management in
order to improve effectiveness and efficiency in South African Revenue Service. The
identified problem statement is “what mechanisms are required to facilitate
continuous improvement in financial management to keep SARS on the
cutting edge of efficiency?” The financial management practice of Operation s is
discussed, taking into account relevant literature; certain issues that concerned the
researcher are validated by participants while other issues were found not to be an
issue. The study concludes with recommendations in order to improve the practice.
The research maintained objectivity by allowing participants to reflect and comment
on SARS Operations financial management as they see or experience it. The
researcher used a qualitative approach with empirical data being constructed from
interviews.
Data collection was done through reviewing past literature including documents
regarding policies, standard operating procedure and relevant documents for SARS.
Semi-structured one-on-one interviews were used to engage in dialogue with
employees in order to ascertain their views and attitudes.
The study highlighted that SARS Operation’s financial management faced many
challenges and establish what mechanisms are required to facilitate continuous
improvement in financial management to keep SARS on the cutting edge of
efficiency.
Operations division need to commission a benchmark exercise (both externally and
internally) to establish the most appropriate operating model, financial management,
reporting and analysis in order to facilitate effective financial management.
Description
M. Com. University of KwaZulu-Natal, Durban 2013.
Keywords
South African Revenue Service., Business enterprises--Finance., Theses--Leadership and management.