How irregular expenditure differs from material irregularitiesDefinitionIE:Expenditure incurred in contravention of, or that is not in accordance with,a requirement of any applicable legislationMI:Any non-compliance with, or contravention of, legislation, fraud, theft ora breach of afiduciary duty identifiedduring an audit performed under thePublic Audit Act that resulted in oris likely to result in a materialfinancial loss,the misuse or loss of a material public resource or substantial harm to a publicsector institution or the general publicDifference:irregularityIE:Irregularity is onlynon-compliance with legislation when incurringexpenditureMI:Irregularity isany non-compliance (not limited to expenditure)as well asfraud, theft or breach of fiduciary dutyDifference:impactImpact is not specified, as Public FinanceManagement Act requiresaccounting officers and authorities to determine impactThere can beirregular expenditure that did not result inany financial losses,misuse or harmDifference:valueIE:Value isexpenditure to dateMI:Does not necessarily have a value, butif impact isfinancial loss, valuewereport is estimated financial loss