Audit Committee Chairperson

2 weeks ago


Pretoria, Gauteng, South Africa The South African Department of Employment & Labour Full time

Centre:
Compensation Fund (CF): Pretoria

Reference No:
HR 5/1/2/3/89

Salary:
Members will be remunerated according to rates approved by the Department of Employment and Labour in line with the circular/guidelines issued by SAICA/AGSA

Enquiries:
Mr S

Zwane, Tel:
/ 9294

Requirements:

Applicants must have extensive experience in corporate governance, strong leadership, analytical and good communication skills, sound knowledge and including (a) senior certificate (b) relevant three or four year degree (c) in possession of relevant post graduate qualification with at least 10+ years' experience in any of the following fields: Accounting/Auditing/Financial Management/ Governance /Legal / Business/ Information Communication Technology/ Project Management/ Human Resource Management and Planning, Monitoring and Evaluation.


Affiliation and or Certification to a professionally recognised body or similar such as CIA /CA (SA)/CISA/CISM/CRISC/ CRMA/ IRMSA / IIA / ISACA / or any internal audit /accounting related professional.

Must be independent and knowledgeable of the status of their position as a member, (d) a member of a professional body and (e) have experience of serving in Boards of Directors and/or similar committees.


The following will be an added advantage:
experience in/or knowledge of the public sector. Highly specialized knowledge of internal control and accounting practices and in particular accounting and public sector reporting frameworks/models.

Intensive knowledge and understanding of and exposure to legislation/policies (PFMA, GRAP, GAAP, Treasury regulation and other relevant legislation and practice notes).

Knowledge and understanding of ICT including the role of internal and external audit.

Integrity, dedication, inquisitiveness within reasonableness of probing an enquiring mind, analytical reasoning abilities and a good understanding of the committee's position in the governance structure, thorough understanding of corporate governance principles.


Duties:

To execute roles and responsibilities as outlined in chapter 27 of Treasury Regulation issued in terms of the PFMA and provide advice to the Executive Authority and Accounting Authority of the Department of Employment and Labour, Compensation Fund on matters relating to Internal audit and Internal Financial Controls, Risk Management, Accounting policies and frameworks, legal and Information Communication Technology matters, review the Annual Financial Statement to provide the department with an authoritative and credible view of the financial position, its efficiency and effectiveness and its overall level of compliance with the relevant acts, legislation, policies and procedures, adequacy, reliability and accuracy of financial reporting and performance information, effective governance, respond to issues raised by the Auditor-General in the audit report.


The Chairperson of the Audit Committee will also serve as an Audit Committee member of the Department of Employment and Labour during the term of office.

The Chairperson should provide leadership in the Audit Committee meetings, prepare Audit Committee Reports and interrogate management reports.

The Chairperson shall also be responsible to prepare a CF annual and quarterly Audit Committee reports and present it to the Department of Employment and Labour Audit Committee and or Director General.

It will be the responsibility of the Chairperson to ensure that all the responsibilities or the roles of the Audit Committee are discharged according to the approved Charter and any relevant act, standards and regulations.

The Audit Committee members must review the following: The adequacy and effectiveness of internal control system.

The Governance and risk management areas of the Funds 'operations to be covered in the scope on internal and external audits.

The adequacy, reliability and accuracy of the financial information provided by management to users of such information. The effectiveness if ICT Governance, Strategies and Policies. Any Accounting and Auditing concerns identified as a result of internal and external audits. Departmental Performance and Compliance with Legal and Regulatory provisions.

The activities of internal audit function including its annual audit plan, coordination with external auditors, reporting of significant investigations and the responses of management to specific recommendations.


Enquiries:
Mr S

Zwane, Tel:
/ 9294

Note:
Coloureds, Indians Whites and Persons with disabilities are encouraged to apply

Applications:

Chief Director:

Corporate Services:
P O Box 955, Pretoria, 0001 or hand deliver at 167 Thabo Sehume & Madiba Street, Delta Heights Building

For Attention:
Sub-directorate: Human Resources Planning Practices and Administration, Compensation Fund.

CLOSING DATE:
10 June 2024 at 16:00

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