SACAA Annual Report 2022_23

PART C I Governance

Auditor-General of South Africa The Audit and Risk Committee has met with the Auditor-General of South Africa to ensure that there are no unresolved issues. The Audit and Risk Committee monitored the implementation of the action plan to address matters arising from the management report issued by the Auditor-General of South Africa for the 2021/22 financial year. All the action items were closed by the end of the 2022/23 financial year. The Auditor-General has unrestricted access to the SACAA’s records and management and furnishes a written report to the Committee on significant findings arising from the annual audit and is able to raise matters of concern directly with the Chairman of the Committee. The Audit and Risk Committee concurs with and accepts the conclusions and the audit opinion of the Auditor-General of South Africa on the annual financial statements and is of the view that the audited financial statements be accepted and read together with the report of the Auditor-General of South Africa.

• Monitor the integrity, accuracy and reliability of the financial position of the SACAA; • Review the management accounts of the SACAA to provide the Accounting Authority with an authoritative and credible view of the entity’s financial position; • Review the disclosures made in the financial reports of the SACAA and the context in which statements on the financial health of the entity are made; and • Review all material information presented together with the management accounts. The quality of budgets submitted in terms of the PFMA The Audit and Risk Committee is satisfied that it received sufficient, reliable and timely information that enabled it to: • Review and ensure that the annual budgets are balanced, credible and realistic against the approved business plans; and • Monitor and periodically review the implementation of the approved budget by the Accounting Authority. Risk Management and Combined Assurance The Committee has noted good progress on the implementation of the risk management policy, framework, plans and the combined assurance model. The combined assurance providers continue to find synergy and there are continued co-ordinated efforts to ensure a broader assurance coverage. The Audit and Risk Committee monitored the implementation of the Combined Assurance Plan to ensure the coordination and alignment of assurance activities across the various lines of defence, so that assurance has the appropriate depth and reach, including resources optimisation.

_________________ Mr S. Sooklal Chairperson of the Audit Committee

124 I Annual Report 2022/23 I Governance