SACAA Annual Report 2022_23

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• Internal Audit Charter for the 2022/2023 Financial Year. The Audit and Risk Committee has formed an opinion that adequate, objective internal audit policies and procedures exist within the SACAA and that the SACAA’s Internal Audit Department has complied with the International Standards for the Professional Practice of Internal Auditing , the required legal, regulatory and other responsibilities as stipulated in its Charter during the period under review. We are satisfied that the Internal Audit Function is operating effectively, and that it has addressed the risks pertinent to the SACAA in its internal audit engagements. Whistle-blowing In compliance with the Protected Disclosures Act, 2000, the SACAA has established and maintains an independent fraud hotline service. The Audit and Risk Committee wishes to report that, for the financial year under review, it received and dealt with all concerns or complaints, whether from within or outside of the SACAA. The Audit and Risk Committee also discusses reports from the whistle-blowing hotline through reports presented by Internal Audit Division’s Forensic Services Department. The Audit and Risk Committee receives on a regular basis progress reports on the status of the investigations, and the Committee ensured that the necessary corrective actions were taken by management. The Committee in the year under review also reviewed and approved the Fraud and Corruption Policies and the Annual Forensic: Fraud and Corruption Prevention Plan. The quality of management and quarterly reports submitted in terms of the PFMA The Audit and Risk Committee is satisfied that it received sufficient, reliable and timely information from management in order to enable it to fulfill its responsibilities. During the year under review, quarterly management reports were presented by management to enable the Committee to:

account risks and concerns identified and raised by management and those raised by the Audit and Risk Committee. The plan is submitted to the Audit and Risk Committee for approval; • to build and enhance the skills level of audit staff with knowledge to assist them in the execution of planned audits; and • to provide an optimal audit coverage by considering the scope of work of the external auditors and other assurance providers within the SACAA as per the Combined Assurance Framework. The Internal Audit Department completed all planned audits and allocated ad-hoc assignments for the period under review. The Audit and Risk Committee is responsible for ensuring that the Internal Audit Function is independent and has the necessary resources, standing and authority within the SACAA to enable the Function in discharging its duties. Furthermore, the Audit and Risk Committee oversees co operation between the internal and external auditors and serves as a link between the Board and these two functions. Internal Audit’s activities are measured against the approved annual internal audit plan and the Chief Audit Executive tables progress reports in this regard to the Audit and Risk Committee on a quarterly basis. During the reporting period the Audit and Risk Committee reviewed and approved/noted the following matters: • The Risk-based Annual Internal Audit Plan and the Three-year Risk-based Internal Audit Rolling Plan; • Progress reports on the closure of the internal audit findings; • Internal audit’s quarterly reports in line with the approved Internal Audit Plan; and

Governance I Annual Report 2022/23 I 123