Treasury Internal Audit Framework Revised ... - National Treasury

Audit Committee (AC)
ensure that he/she contributes most effectively
and provides stability to the AC. AC members
should be recruited to introduce new
perspectives and thinking to AC discussions.
Rotation is encouraged as it enhances the
independence of the AC. Members’ should
serve at least a minimum of three years with
an option to renew the contract. Recruitment
should be staggered to prevent a loss of
knowledge and skills base of members at one
time. Members should be encouraged not to
terminate their contracts until they have
shared their experiences with new members.
Members should not be contracted
continuously for a period exceeding six years.
After serving continuously for six years, a
cooling period of two years should be allowed
before appointing the same member to the
same AC.
2.5.7 Induction of Members
A formal process of induction should be in
place. This process should provide new
members with sufficient briefings and
information to understand their responsibilities
and management expectation about their role
and performance. The new members should
meet and be briefed by the AO, and the
chairperson of the AC should be introduced to
21 Internal Audit Framework