Treasury Internal Audit Framework Revised ... - National Treasury

Audit Committee (AC)
• Discussion and presentations from
internal and external audit.
An AC should have the following
characteristics:
• A good understanding of the committee’s
position in the governance structure;
• Clearly defined roles and responsibilities;
• Members with relevant personal qualities,
skills and experience;
• The ability to maintain effective relationships
with key stakeholders;
• The ability and capacity to conduct its
affairs efficiently and effectively; and
• A robust process of performance assessment.
2.5.8 Annual Reporting Requirements
The AC annual report should include the
following:
• Membership of the AC, with details of:
o The number of meetings held by the
AC;
o
The number of meetings attended by
the AC members;
23 Internal Audit Framework