Finance Standing Committee

Oversight responsibility of Finance Standing Committee

The Finance Standing Committee is responsible for oversight of National Treasury as well as the following statutory entities:

Accounting Standards Board

Co-operative Banks Development Agency

Development Bank of SA (DBSA)

FAIS Ombudsman

Financial Intelligence Centre (FIC)

Financial and Fiscal Commission 

Financial Sector Conduct Authority 

Government Pensions Administration Agency (GPAA)

Government Technical Advisory Centre

Independent Regulatory Board for Auditors (IRBA)

Land Bank

Pension Funds Adjudicator

Public Investment Corporation (PIC)

SA Special Risks Insurance Association (SASRIA)

SA Revenue Service (SARS)

South African Reserve Bank (SARB)

Tax ombud 

The Committee is mandated to: 

• consider, amend and/or initiate legislation that is specific to, or impacts on the National Treasury.
• consider and review the strategic plans and budgets of the Department and its entities.
• monitor and oversee the activities, financial and non-financial performance of the Ministry and its entities.
• monitor and oversee the implementation of the Department’s policies and legislation
• consider sector-related international treaties and agreements; and
• provide a platform for the public to participate and present views on specific topics and/or legislation in relation to the economic sector and the national budget. 

Learn more about the work of this Committee: Legacy Reports

The role and functions of Committees in Parliament
In accordance with the powers given to it by the Constitution, the National Assembly establishes a range of committees with assigned powers and functions. 

There is a portfolio committee for each corresponding government department. A committee deliberates on bills covering the department’s area of jurisdiction and scrutinises and report on its annual budget and strategic plan. As the people’s representatives, Members of the committees determine whether government departments are delivering on what they promised and whether they are spending the public money they receive in a responsible manner. As part of their oversight work, committees may also do site visits where they find out directly from the people at ground level whether the government is delivering on its promises.

If a committee reports on a matter and makes certain recommendations, that report will be debated in a full sitting or plenary to give other Members of the House an opportunity to engage with the content of the report. Once the report has been debated, the House decides whether to adopt the committee’s recommendations. The House may also decide only to note the report, or it may refer the report back to the committee with an instruction to do further work. 

Committee Membership

Committee membership is distributed among the parties roughly in proportion to the seats they get in Parliament, so if a party wins 20% of the seats, its MPs will occupy about 20% of committee positions

NA Committee are comprised of 11 Members. The composition is as follows: ANC (5); DA (3); MK (2); EFF (1) & other parties (4). The four largest parties were given permanent positions, and the 14 other parties are grouped together to share the remaining slots.

Read more:  Committees in the Seventh Parliament: Critical Forums for Oversight

Working in Committees allows Parliament to:

• Increase the amount of work that can be done
• Ensure that issues can be debated in more detail than in plenary sessions
• Increase the level of participation of Members of Parliament (MPs) in discussions
• Enable MPs to develop expertise and in-depth knowledge of the specific Committee's area of work
• Provide a platform for the public to present views directly to MPs, something which is not possible in a plenary sitting of Parliament
• Provide an environment for Parliament to hear evidence and collect information related to the work of a specific Committee

Powers

Rule 167 of the National Assembly Rules (9th Edition) say that for the purposes of performing its functions  committee may, subject to the Constitution, legislation, the other provisions of these rules and resolutions of the Assembly: 

• Summon any person to appear before it to give evidence on oath or affirmation, or to produce documents
• Receive petitions, representations or submissions from interested persons or institutions
• Permit oral evidence on petitions, representations, submissions and any other matter before the committee
• Conduct public hearings
• Consult any Assembly or Council committee or subcommittee, or any joint committee or subcommittee
• Determine its own working arrangements
• Meet at a venue determined by it, which may be a venue beyond the seat of Parliament
• Meet on any and at any time, including on a day which is not a working day; on a day on which the Assembly is not sitting; at a time when the Assembly is not sitting, or during a recess. 
• Exercise any other powers assigned to it by the Constitution, legislation, the other provisions of these rules or resolutions of the Assembly

Committees in Practice

With the agreement of members, the Committee staff sets the dates and times of committee meetings. The frequency of committee meetings is determined by a committee’s work programme but it is normal for a committee to meet weekly. From time to time, committees can meet more than once a week if they work programme so demands.

Section 59(1)(b) of the Constitution requires that the National Assembly and its committees conduct their business in an open manner and hold their sittings in public. Section 59(2) states that the National Assembly may not exclude the public or the media unless it is ‘reasonable and justifiable to do so in an open and democratic society’. Rule 184(2) of the Rules of the National Assembly further require that any decision to exclude the public from a committee meeting or part thereof must be taken ‘after due consideration’ by that committee

Who attends Committee Meetings:

• MPs (those assigned to the committee and if they so wish, any other MP)
• Committee Staff: Committee Secretary, Committee Assistant, Researcher, Content Advisor
• Departments, entities, organizations, individuals and experts who are invited by the Committee to speak and be questioned
• Parliamentary Legal Advisor (from time to time)
• Media
• General Public

THE DIFFERENT COMMITTEES OF PARLIAMENT

Portfolio Committees
The National Assembly (NA) appoints from among its members a number of Portfolio Committees to shadow the work of the various national government departments.

Select Committees
The National Council of Provinces (NCOP) appoints from its permanent members a number of Select Committees to shadow the work of the various national government departments and to deal with Bills.

Because only 54 of the 90 NCOP Members are permanent delegates compared to the 400 of the NA, the Select Committees oversee the work of more than one national government department.

Public Accounts Committees
The National Assembly Standing Committee on Public Accounts acts as Parliament's watchdog over the way taxpayers' money is spent by the Executive. Every year the Auditor-General tables reports on the accounts and financial management of the various government departments and State institutions.

Heads of government departments and institutions are regularly called by this committee to report and account for expenditure. The Committee can recommend that the National Assembly takes corrective actions if necessary.

Internal Committees
The National Assembly has a number of internal committees that deal with matters affecting the running of Parliament. The Committees normally consist of senior Members of Parliament. The Rules Committee and its sub-committees deal with House rules. There are structures to deal with support for Members, internal arrangements, disciplinary matters and powers and privileges of members. Other internal Committees are the Programme Committee that plans the work of the Assembly, the Disciplinary Committee, and the Committee of Chairpersons.

The National Council of Provinces also has its own domestic Committees. The Rules Committee and its subcommittees deal with the NCOP rules. There are structures to deal with support for Members, internal arrangements, disciplinary matters and powers and privileges of members. The Programme Committee plans the work of the NCOP and the Committee of Chairpersons make recommendations about the functioning of Committees and other NCOP forums.

Ad hoc Committees
Parliament or one of its Houses may appoint an ad hoc (temporary) Committee when a special task must be done. When the task is complete, the Committee is dissolved.

Joint Committees
The National Assembly and the National Council of Provinces together appoint several joint committees. There are currently six Joint Committees:

Committees play a very important role in the process of building democracy and involving the public in the processes and activities of Parliament.