Economic Development Annual Report

Annual Report 2023/2024 Mpumalanga: Department of Economic Development and Tourism - Vote 6

Consulting Services Transfers to other Entities linked to the mandate of the Department of Economic Development and Tourism. Audit Committee The Audit Committee was established in terms of Section 38 (1)(a) (ii) of the PFMA and obtains its mandate from the PFMA and its Treasury Regulations. The Audit Committee serves as an independent governance structure whose primary function is to provide an oversight over the department’s financial reporting, risk management, control and governance processes. These includes compliance with laws and regulations and oversight of Public Entities reporting to the Department. The Audit Committee assists the Accounting Officer with the effective execution of his responsibilities which include amongst other things financial management, performance management, risk, control and governance processes and compliance management. The Audit Committee is constituted to ensure its independence and comprises of a number of external non-official members (appointed from outside the Public Service) in majority. It operates in terms of formally documented and approved Terms of Reference referred to as the Audit Committee Charter, which deals with matters such as its membership, authority and responsibilities amongst others. The said Terms of Reference are reviewed annually, and in accordance with the requirements set by the PFMA and the Treasury Regulations. Further, it has direct and unobstructed lines of communication to the Member of the Executive Authority (MEC), Accounting Officer, Senior Management, the Provincial Treasury, Internal Audit function and the Auditor-General of South Africa. The Audit Committee consisted of four (4) Independent Members; all (4) four members are appointed outside of the Public Service. Details of the Members and their attendance of scheduled Audit Committee Meetings during the 2023/2024 financial year are as follows:

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