REQUIREMENTS:
Qualifications: CA)SA or Postgraduate Degree in the relevant field
Responsibilities:
Review annual financial statements and establish whether the statements have been prepared in accordance with the PFMA and related Treasury Regulations, including the applicable accounting framework.
Review the coordination of audit efforts to ensure the completeness of coverage and promote the effective use of financial resources.
The Audit Committee must serve as a mechanism of the Accounting Authority to monitor and reinforce the effectiveness of the internal control system and internal audit function.
The Audit Committee must review and make recommendations on:The functioning and overall efficiency and effectiveness of the internal control system.
The functioning of the internal auditors;
The risk areas of the SETA’s operations to be covered in the scope of the internal and external audits, should take the lead in identifying risks which may impact on the organisation and provide leadership in ensuring that there are processes in place to mitigate such risks.
Develop a direct, strong and candid relationship with the external auditors
Review adequacy and effectiveness of the organisation’s internal controls, including computerised information systems control and security, the quality of financial and other management information produced to ensure integrity and reliability, as well as the related significant findings and recommendation of internal and external audit auditors, together with; Management’s response thereto.
Provide advice on IT governance, controls, access and safeguarding of information
Review compliance with laws and regulations and other related requirements
Review any significant incidents of a suspected criminal or irregular nature
Perform duties as required by section 27.1 of the Treasury Regulations.
Term of Office and Remuneration
The term of office of appointed candidates will be from date of appointment to 31 July 2020.
The remuneration of the members of the Audit Committee is determined in accordance with paragraph 20.2 of the Treasury Regulations.
Closing date 17 November 2018
