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HSRC Annual Report 2016/17
Audit and Risk
Committee Report
We are pleased to present our report for the year ended 31 March 2017.
Audit Committee members and attendance
In accordance with the approved Audit and Risk Committee (ARC) Charter, the committee meets at least three times per
year. The Chairperson of the ARC resigned effective 26 November 2016 and the HSRC Board appointed Prof. Amanda
Lourens as interim Chairperson with immediate effect.
Table 8: Audit and Risk Committee meetings, 1 April 2016 to 31 March 2017
Member
17 May 2016 26 October 2016 1 February 2017
Prof. E Uliana*
P
A
N/A
Prof. M Bussin
P
P
A
Prof. A Lourens
P
P
P
Dr B Tema**
N/A
N/A
P
Ms C Abdoll***
P
P
P
Ms M Ramataboe***
P
P
P
P Present
A Absent with an apology
* Resigned effective 26 November 2016
** Appointed effective December 2016
*** Independent, specialist Member
Audit Committee Responsibility
The committee reports that it has complied with its responsibilities arising from section 51 (1)(a)(ii) of the Public Finance
Management Act (Act No. 1 of 1999, as amended) (PFMA), sections 76 and 77 of the Act, and the relevant National
Treasury Regulations.
The committee has adopted formal terms of reference, contained in the Audit and Risk Committee Charter, duly approved
by the HSRC Board. It has discharged its duties and responsibilities in compliance with the charter and its associated
Schedule of Duties.
Integrated reporting
In overseeing integrated reporting, the committee:
•
Recommends the Integrated Annual Report for approval by the Board;
•
Considers all factors and risks that may impact on the integrity of the integrated report;
•
Reviews and comments on the Financial Statements, the accounting practices and the effectiveness of the internal
financial controls; and
•
Review the disclosure of sustainability issues in the Integrated Annual Report to ensure that it is reliable and does
not conflict with the financial information.
PART C: Governance