GDF Annual Report - Gauteng Provincial Treasury

SECTION 4: ANNUAL AUDIT COMMITTEE FINANCIAL REPORT STATEMENTSEvaluation of Financial StatementsThe Audit Committee has:• reviewed and discussed the unaudited AnnualFinancial Statements to be included in theAnnual Report, with the Auditor-General and theAccounting Officer;• reviewed the Auditor-General’s managementreport and management’s response thereto;• reviewed the departments compliance with legaland regulatory provisions; and• reviewed significant adjustments resulting fromthe audit.The Audit Committee concurs and accepts theAuditor-General’s conclusions on the Annual FinancialStatements, and is of the opinion that the auditedAnnual Financial Statements be accepted and readtogether with the report of the Auditor-General.Internal AuditThe Audit Committee is satisfied that the internalaudit function is operating effectively and that it hasaddressed the risks pertinent to the department inits audit. One-on-one discussions with the Chief AuditExecutive did not reveal any mattes of concern.Forensic InvestigationsThe Audit Committee is satisfied that the forensicinvestigations are properly reported with age-analysis ofall reported issues indicated. One-on-one discussionswith the Head of Forensic Unit did not reveal anymatters of concern.One-on-One with the Accounting OfficerThe Audit Committee has met with the AccountingOfficer of the Department to ensure that there are nounresolved issues.Auditor-General South AfricaThe Audit Committee has met with the representativesof the Auditor-General to ensure that there are nounresolved issues. One-on-one discussions withrepresentatives of the Auditor-General did not revealany matters of concernOther Important MattersThe Audit Committee noted that the Departmentappointed an appropriate forensic service provider toinvestigate within the various Departments, the impactof possible duplicate payments in prior reportingperiods as reported by Gauteng Audit Services.The Audit Committee also noted from reports of theAccounting Officer, the various initiatives to managethe cash flow challenges resulting from unauthorisedexpenditure and accruals carried forward from priorreporting periods and from the fact that the budget forthe 2011/12 reporting period was only approve by theLegislature in July 2011.AppreciationThe Audit Committee expresses its appreciation towardsthe Accounting Officer and all other role players for theconstructive way in which meetings were arranged andconducted.…………………………………………Piet FourieChairperson of the Audit CommitteeGauteng Department of Finance139