National Consumer Tribunal Annual Report 2011/12 National Consumer Tribunal 2011-12 | Page 21

Submission of in-year management and quarterly reports in terms
of the Public Finance Management Act and Treasury Regulations
We are satisfi ed with the content and quality of the monthly and quarterly
reports that were prepared and issued by the Accounting Authority
during the year under review. As per our discussion with management,
management has confi rmed that these reports were properly formulated
in compliance with the PFMA and Treasury Regulations.
Consideration of Annual Financial Statements for submission to the
Auditor-General of South Africa (AGSA)
The Audit and Risk Committee has:
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Reviewed and discussed the audited Annual Financial Statements to
be included in the annual report with management and the AGSA;
Reviewed and discussed the performance information with the
Accounting Authority and management;
Reviewed the accounting policies and practices;
Reviewed the AGSA’s management report and management
responses thereto;
Reviewed the entity’s compliance with the legal and regulatory
provisions;
Reviewed the signifi cant adjustments resulting from the audit.
Auditor-General of South Africa
We have reviewed the AGSA’s Strategic Audit Plan and have
recommended approval of its budget to the Accounting Authority. We
have also met with the Auditor-General to ensure that there are no
unresolved issues.
The committee concurs and accepts the AGSA’s conclusions on the
Annual Financial Statements, and is of the opinion that the audited
Annual Financial Statements be accepted and read together with the
report of the AGSA.
Chairperson
Audit and Risk Committee
4 August 2011
Annual Report 2011
national consumer tribunal | page 19