Independent Members of the Audit and Risk Committee

QUALIFICATION AND EXPERIENCE REQUIREMENTS

• Education: Honours degree in accounting, Finance, Auditing, or a related field. A professional qualification such as CASA, CIMA, ACCA, CIA, or equivalent is highly desirable.
• Experience: At least 5 years of relevant experience in serving on an audit committee and 10 years of experience in auditing, financial management, risk management, or corporate governance, preferably within the public sector.
• Knowledge: In-depth knowledge of the PFMA, Treasury Regulations, King V Report on Corporate Governance, and Generally Recognized Accounting Practice GRAP.
• Skills: Strong analytical, communication, and problem-solving skills, with the ability to make sound judgments and provide constructive feedback.
• Independence: The candidate must be independent, with no direct or indirect interest in the operations that could impair their objectivity.

DUTIES AND RESPONSIBILITIES

• Financial Reporting: Review and provide oversight of the entity's financial statements, including the annual financial statements and interim financial reports, to ensure accuracy, completeness, and compliance with applicable accounting standards.
• Internal Controls: Assess the adequacy and effectiveness of the internal controls and provide recommendations for improvement.
• Risk Management: Review the risk management framework and policies to ensure that significant risks are appropriately identified, managed, and mitigated.
• Compliance: Monitor compliance with the PFMA, Treasury Regulations, and other relevant legislation, including the policies and procedures.
• Internal Audit: Oversee the performance of the internal audit function, including the approval of the internal audit plan and the review of internal audit reports.
• External Audit: Liaise with the Auditor-General of South Africa AGSA or other external auditors, including reviewing the external audit strategy, scope, and findings.
• Ethics and Governance: Promote ethical conduct and sound corporate governance within the entity, ensuring adherence to the King V Report on Corporate Governance.
• Proven experience in ICT governance aligned with King V, COBIT, and applicable ICT frameworks e.g., ISO/IEC 38500.
• Demonstrable knowledge of ICT risk management, information security, business continuity planning, and cybersecurity frameworks e.g., ISO/IEC 27001, NIST.
• Competence in overseeing ICT-related internal controls, including user access management, data protection, system change controls, and segregation of duties.
• Insight into ICT compliance obligations under the PFMA, Treasury Regulations, POPIA, and DPSA ICT Standards.
• Experience in evaluating and advising on ICT infrastructure, digital transformation initiatives, and ICT procurement within a public sector environment.
• Ability to interrogate ICT audit reports from internal audit and the Auditor-General and provide strategic oversight of ICT-related risks impacting governance, finance, and performance.