SACAA Annual Report 2022_23

PART C I Governance

12. AUDIT COMMITTEE REPORT

We are pleased to present our report for the financial year ended 31 March 2023. Audit and Risk Committee responsibility The Audit and Risk Committee reports that they have complied with their responsibilities arising from section 50(1) and 51(1) of the PFMA and Treasury Regulations. The Audit and Risk Committee also reports that it has adopted appropriate formal terms of reference as its Audit and Risk Committee Charter, and has regulated its affairs in compliance with this charter and has discharged all its responsibilities as contained therein. The Audit and Risk Committee is established as an independent statutory committee in terms of the PFMA and the Civil Aviation Act. The Committee oversees all audit, compliance, information technology, internal audit and risk matters for the SACAA; however, the Board is ultimately accountable for financial and risk management. The Audit and Risk Committee for the year ended 31 March 2023 comprised of three non-executive members and an independent specialist member appointed in November 2020. The committee was chaired by an independent non-executive member, Mr Surendra Sooklal. The Director of Civil Aviation, Executive: Finance, Chief Audit Executive, Executive: Corporate Services and the Auditor-General of South Africa all have a standing invitation to the Audit and Risk Committee meetings. The appointment of the Audit and Risk Committee members is confirmed annually at the Annual General Meeting by the Executive Authority. On an annual basis, the Audit and Risk Committee assesses the effectiveness of the Internal Audit activity against the criteria outlined below: • Achievement of the annual Internal Audit Plan; • Compliance with the Institute of Internal Auditors’ professional standards;

• Achievement of reporting protocols through management to the audit and risk committee; • Timeliness of reporting of findings and activities; • Responsiveness to the changing business and operational environment; • Management’s acceptance of the internal audit findings; • Quality and relevance of the annual assessment reports; • Level of co-operation and interaction with other assurance providers within the agreed combined assurance approach; • Maintenance of adequate staffing and resource levels to achieve the annual Internal Audit Plan outcomes and meet the requirements of the Internal Audit Charter; and • Meeting the budget allocated to the internal audit function. During the period under review, the Committee held five scheduled meetings, three special meetings and one workshop. The purpose of the workshop was to review the reporting format and plans relating to internal audit, risk management and combined assurance. The Chairperson of the Committee reports to the Board quarterly, regarding the Committee’s deliberations, decisions and recommendations. In addition, the Committee also reports quarterly to the Executive Authority. Attendance of Audit and Risk Committee meetings by Audit and Risk Committee members Mr S Sooklal 7 out of 7 Mr M India (Retired on 31 May 2022) 1 out of 2 Prof. N Dyani-Mhango (Retired on 31 May 2022) 2 out of 2 Ms Z Nkosi 7 out of 7 Ms B Koyana (Appointed on 01 June 2022) 5 out of 5

120 I Annual Report 2022/23 I Governance