ANNUAL REPORT 2014/15

DEPARTMENT OF HIGHER EDUCATION AND TRAINING
VOTE 17
REPORT OF THE AUDIT COMMITTEE
for the year ended 31 March 2015
Audit Committee Responsibility
Public Finance Management Act and Treasury Regulation 3.1. The Audit Committee also reports that it has
adopted appropriate formal terms of reference as its committee charter, has conducted its affairs in compliance
The effectiveness of internal control
The system of internal control is designed to provide cost-effective assurance that assets are safeguarded and
to the controls and processes.
improvement. This continues to be an area of concern to the Audit Committee.
terms of the PFMA
Evaluation of Financial Statements
The Audit Committee has:
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