Department of Infrastructure Development Annual Report 2021-2022

ANNUAL REPORT 2021 | 2022

11. INTERNAL AUDIT AND AUDIT COMMITTEES

Key activities and objectives of the internal audit An internal audit is a managerial tool that serves to improve processes and internal controls within a department. Internal Audit’s objective is to provide an assessment of the department’s risks, control environment, and operational effectiveness. Through the Internal Control Unit, the Department sourced the service of the GAS to ensure the following services is rendered:

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Consistently reviewing departmental business practices.

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Evaluating that risk management procedures are in place.

• Implementing controls to protect against fraud and theft of the departmental assets and service rendered value for money. • Ensuring laws and regulations are compliant. • Making recommendations on process improvement.

Key activities and objectives of the audit committee

According the Audit Committee Charter, the following are fundamental responsibilities and primary objectives of the committee:

Primary Objectives • To enforce and strengthen accountability from institutions, improve the internal control environment and promote the culture of professional ethics and good governance. • To ensure the availability of a well-resourced, functional and sustained internal audit function. • To ensure sound relationships with all assurance providers, oversight structures and other stakeholder to achieve an effective combined assurance system. • To ensure effective and efficient internal and external audit processes in a coordinated manner. • To promote sound functional interaction between the internal audit and other assurance providers. • To ensure adequate and effective corporate governance, encompassing fraud and risk management, information management, internal control, financial management and reporting systems. • To enforce accountability in terms of financial and performance management for effective service delivery. • To ensure compliance with relevant laws and regulations. Fundamental responsibilities • Review, amend and adopt the GPG Audit Committee Charter annually or sooner if deemed necessary. • Assess the processes related to the risk and control environment pertaining to each GPG institution in that cluster. • Oversee the financial, non-financial reporting process, as well as IT governance, evaluate the internal and external audit process. • Foster and improve open communication and contact among relevant stakeholders in the institution in that cluster.

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DEPARTMENT OF INFRASTRUCTURE DEVELOPMENT