Background and topics covered

The Public Finance and Management Act (PFMA) requires all public entities and departments to ensure that they develop and maintain effective and efficient systems of financial and risk management and internal control.  They also have to develop and maintain a system of internal audit under the control and direction of an audit committee; prevent losses resulting from criminal conduct and take effective and appropriate steps against perpetrators.

The National Treasury Regulations, in line with the PFMA, requires all Departments, Public Entities, Trading Entities, Constitutional Institutions, Local Authorities, Parliament and Provincial Legislatures to establish an audit committee. Based on research, feedback from the Auditor-General South Africa and other stakeholders it has become clear there is an ever increasing need for training of audit committee members.

Recently the Public Sector Audit Committee Forum was launched. One of its objectives is to encourage audit committee members to attend appropriate audit committee training courses.     

The role of the Audit Committee is to strengthen governance in the public sector in relation to their financial, operational and strategic risks. Audit Committee members therefore need to clearly understand their responsibilities. This one-day course is designed to empower participants to fulfil their responsibilities with regard to audit committees effectively and efficiently. As for all courses which form part of the Public Finance Management Programme, the content is designed around and based on the requirements of the PFMA. This way SAIGA assists with the implementation of this crucial Act.Booking and cancellation policies.

Contents:

Topics dealt with in this one-day course include:

• Audit committees and governance in the context of the Public Finance Management Act
• The audit committee and internal audit
• Composition of the audit committee
• Approval of the appointment of audit committee members
• Termination of the services of audit committee members
• The audit committee charter
• Duties of the audit committee
• Responsibilities and liabilities of audit committee members
• Reporting of the audit committee
• Remuneration of audit committee members
• King 3 on audit committees
• Case study – drafting audit committee charter
• Examples of audit committee reports

Course content and focus of discussions may be adjusted and the emphasis changed depending on feed-back from participants.

The course is specifically designed from a public sector perspective for audit committee members, internal audit staff, chief financial officers and officials with an interest in governance.

Bookings

Since only a limited number of participants can be accommodated, bookings will be handled on a first-come-first-served basis. To avoid disappointment submit your registration as soon as possible.

Changes / cancellations:

Tax invoices will be issued (faxed and posted) on receipt of your booking. Once a tax invoice has been issued the department/delegate will be held liable for payment of the full course fee.  No refunds can be made, but alternative delegates (substitutes) may attend the same course at no extra cost. All booking changes or cancellations are charged at R1,368.00 (R1,200 plus 14% VAT) per delegate booking. No cancellations or changes in booking will be accepted if not received in writing at least 5 working days before the course. Invoices must be paid before the course starts. No certificates will be issued if payment is outstanding. Outstanding payments incur 2% interest per month. Due to the minimal information which banks provide in respect of direct deposits, participant have to fax their deposit slips / electronic transfer slips to the Secretariat and state the invoice number/(s) to which the deposit refers. As required by recent legislation, VAT numbers have to be provided with registration. The Institute reserves the right to cancel a particular course due to unforeseen circumstances e.g. insufficient bookings or unavailability of venues (in the last few years, only a few courses had to be cancelled). In such event, participants will be informed at least two weeks before the scheduled course date of such cancellations. Participants who have paid their fees will receive full refunds in the event of SAIGA cancelling a course (SAIGA’s liability in such event is limited to this refund).

To register for this course, or any other course, kindly complete our online registration form: