The King Report on Corporate Governance requires management to confirm publicly that it has reviewed the effectiveness of the internal control of the organisation. The implementation of control and information systems is essential to the effective discharge of manage-ment’s responsibilities.
Council must continuously review current trends and best practice in relation to corporate governance. As part of Council’s plans to fulfil its obligations to demonstrate greater accountability and ensure higher quality of service, Council has decided to address internal control through the establishment of a Performance and Audit Committee.
The need for such a Committee is also stipulated in the Municipal Finance Management Act, Section 166 of the Municipal Finance Management Act, Act 56 of 2003. The specific responsibilities assigned by the Council to the Committee, are outlined in the Performance & Audit Committee Charter and details the manner in which the Committee will operate. The charter is subject to annual review by the Council.
The Council approved the appointment of the members to serve on the Performance & Audit Committee for the period 1 Oct 2016 – 30 Sep 2019.
The members were appointed in line with Section 166(5) of the Municipal Finance Manage-ment Act, Act 56 of 2006.