SACAA Annual Report 2022_23

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Annual Financial Statements for the year ended 31 March 2023

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Audit and Risk Committee Report

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: • 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 amongst the various assurance providers and there is a continued coordinated effort to ensure adequate 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 defense, so that assurance has the appropriate depth and reach, 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 2021/2022 financial year. All the action items were closed by the end of the 2022/2023 financial year. including resources optimization. Auditor-General of South Africa

Annual Financial Statements I Annual Report 2022/23 I 173