2003

November 26, 2019


In 2003, following the financial management reforms brought by the enactment of the Public Financial Management Act (PFMA) in South Africa in 1999, ground breaking work was achieved through the enactment of the Municipal Financial Management Act (MFMA).  It set the cornerstone of the broader reform tailored towards local government in South Africa, with focus on planning and budgeting, revenue, cash and expenditure management, procurement, asset management, reporting and oversight.

It is in that same year that Ducharme was established to provide financial management guidance and support public sector entities and local government entities.

Ducharme assisted a number of municipalities with the implementation of accrual based accounting guidelines for the first time in 2003.