REPORT OF THE
AUDIT AND RISK
COMMITTEE
Andrew Mashifane
Chairperson: Audit and Risk
Committee
The Audit and Risk Committee is pleased to
present the report for the financial year ended
31 March 2017.
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1. Audit and Risk Committee
The SALGA Audit and Risk Committee is
constituted in terms of section 77(a) of the PFMA
as well as Treasury Regulations 27.1.1; 3, and 4
and meets as per its approved terms of reference.
The Audit and Risk Committee is a sub-committee
of the National Executive Committee (NEC). The
objectives of the committee are as follows:
• To review the effective, efficient and
transparent systems of financial and
risk management and internal control
maintained by SALGA, which contribute
to the efficient and effective utilisation of
resources, safeguarding of assets and the
accomplishment of established strategic
objectives for operations or programmes
of SALGA.
• To
promote
the
efficiency
and
effectiveness
of
accounting
and
management information systems.
• To monitor that, in accordance with
SALGA’s responsibility to its members,
justifiable decisions regarding the
provision of services are taken as
indicated in policy statements, practices
and uncovering of malpractice.
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•
•
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To have access to a distinct and clear
communications channel between the
NEC, executive management team,
external and internal auditors. To inform
SALGA regarding critical problems
about the preparation and discussion
of the financial statements that must be
addressed.
To monitor the effectiveness of the
internal audit function and internal
controls of SALGA.
To monitor management, internal audit
and external audit with reference to the
drafting and auditing of the financial
statements.
To enhance the objectivity and credibility
of reporting to stakeholders.
In order to achieve its objectives, the
Audit and Risk Committee is empowered
to request all information necessary for
assessment and action, and to convene
meetings, including in camera meetings,
at any time.
2. Audit and Risk Committee members
The committee comprises members who are
external professionals from the private sector.
It functions independently of management
structures within SALGA and endeavours to
remain and preserve its objectivity at all times.
SALGA ANNUAL REPORT
2016/17