Treasury Internal Audit Framework Revised ... - National Treasury

Audit Committee (AC)
• An understanding of the business in
which the organisation operates;
• Familiarity with risk management practices;
• An understanding of internal controls;
• An understanding of major accounting
practices and public sector reporting
formats;
• Familiarity with legislative requirements;
and
• Understanding of the roles of internal
and external audit.
2.5.4 Independence of Members
In order to be effective, the AC needs to
operate independently of line management
and it needs to bring objectivity to the
deliberations. To enhance the AC’s independence,
it is recommended that:
• The majority of AC members should be
independent of the organisation and
should preferably not be in the public
service;
• The appointment of AC members who
exhibit an independence of mind in their
deliberations; and
19 Internal Audit Framework