Housing Development Agency Act, 2008
R 385
Road Traffic Management Corporation Act, 1999 (Act No. 20 of 1999)Chapter 2 : Establishment and governance of Road Traffic Management Corporation22. Annual report |
| (1) | The chief executive officer must, at the end of each financial year, submit to the Shareholders Committee for its approval an annual report pertaining to the financial state of affairs and business of the Corporation and its functional units as at the end of that financial year, consisting of— |
| (a) | a balance sheet, an income statement and a cash-flow statement which is a true and correct reflection of the state of affairs of the Corporation as at the end of that financial year, |
| (b) | a report on the Corporation in terms of subsection (2); |
| (c) | a report by the auditor of the Corporation, who must be registered in terms of section 15 of the Public Accountants’ and Auditors’ Act, 1991 (Act No. 80 of 1991), in accordance with subsection (3); and |
| (d) | any other statement or report which the Shareholders Committee may reasonably require. |
| (2) | The report referred to in subsection (1)(b) must deal with the state of affairs, the activities and operations, and the financial position of the Corporation, and must— |
| (a) | state the extent to which the Corporation, during the financial year concerned, has achieved or advanced its objectives, and refer specifically to— |
| (i) | the levels of private investment in road traffic; |
| (ii) | the levels of contracting out to national authorities, provincial authorities, local government bodies, the SAPS, any other statutory transport institution vested with road traffic powers and the private sector; and |
| (iii) | the degree to which public funding of road traffic is decreased, including any reduction of public funding of negative concessions; |
| (b) | contain relevant performance information regarding the economical, efficient and effective application of resources including a comparison between planned and actual performance indicators as set out in the business and financial plan; and |
| (c) | indicate the amount of money, if any, received from the State and any other commitment furnished by the State. |
| (3) | The auditor’s report referred to in subsection (1)(c) must state separately in respect of each of the following matters whether in the auditor’s opinion— |
| (a) | the balance sheet, income statement and cash-flow statement, as well as any other furnished information, fairly represent the financial position and results obtained by the Corporation in accordance with generally accepted accounting practice, as applied on a basis consistent with that of the preceding year; |
| (b) | the information furnished in terms of paragraph (a) is fair in all material respects and, if applicable, on a basis consistent with that of the preceding year; |
| (c) | the transactions that had come to his or her attention during auditing were in all material respects in accordance with the law and the objects and functions of the Corporation; |
| (d) | adequate measures and procedures exist for the proper application of sound economic, efficient and effective management; and |
| (e) | attention should be drawn to any other matter falling within the scope of the auditor’s examination which, in his or her opinion, the public interest demands should be brought to the notice of the Shareholders Committee, Parliament and the relevant provincial legislatures. |
| (4) | A copy of the annual report must, after its approval by the Shareholders Committee, be submitted to the Minister and every MEC who must table it in Parliament and every provincial legislature, as the case may be, within 14 days of receipt of that report, or, if Parliament or a provincial legislature is not then in session, within 14 days after the commencement of its next ensuing session. |
| (5) | A copy of the approved annual report must be open to inspection by the public at the head office of the Corporation during business hours. |
