Annual Report 2004/05 - Special Investigating Unit

SPECIAL INVESTIGATING UNIT
APPROVAL OF THE FINANCIAL STATEMENTS
The Head of the Unit is responsible for the Unit’s system of internal
control, which is designed to provide reasonable, but not absolute
assurance against material misstatement and loss. Internal control
is broadly defi ned as a process, effected by the Head of the Unit,
management and other personnel, designed to provide reasonable
assurance regarding the achievement of objectives in the following
categories:
• economy, effi ciency and effectiveness of operations;
• internal fi nancial controls; and
• compliance with applicable laws and regulations.
I have reviewed the Unit’s system of internal control for the period
1 April 2004 to 31 March 2005. I am of the opinion that the Unit’s
system of internal control was effective for the period under review.
The financial statements for the year ended 31 March 2005 and which
appear on pages 34 to 46 were approved and signed by me in my
capacity as Head of the Unit.
The system contains self-monitoring mechanisms, and actions are
taken to correct defi ciencies as they are identifi ed. Even an effective
system of internal control, no matter how well designed, has
inherent limitations, including the possibility for the circumvention
or overriding of controls. One of the aims of an effective system of
internal control is to provide reasonable assurance with respect to the
reliability of fi nancial information and, in particular, the presentation
of fi nancial statements. Further, because of changes in conditions,
the effectiveness of system on internal control may vary over time.
_______________________________
WA Hofmeyr
Head of the Unit
18 May 2005
BALANCE SHEET
at 31 March 2005
33