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Skills Development Act, 1998 (Act No. 97 of 1998)


Constitution of the Clothing, Textile, Footwear and Leather Sector Education and Training Authority (CTFLSETA)

9. The Audit Committee


9.1 The Audit Committee is an independent committee established in terms of the Public Finance Management Act, 1999.


9.2 The Audit Committee operates in terms of written terms of reference approved by the Council. The terms of reference must be reviewed annually to ensure their relevance. The terms of reference must deal with at least—
9.2.1 the, membership of the Audit Committee, subject to clause 9.3;
9.2.2 the authority of the Audit Committee;
9.2.3 the responsibilities of the Audit Committee.


9.3 The Audit Committee must be made up of at least three members, appointed annually by the Council, in consultation with the Minister.


9.4 The chairperson of the Audit Committee—
9.4.1 must be independent;
9.4.2 must be knowledgeable of the status of the position;
9.4.3 must have the requisite financial, and leadership skills;
9.4.4 may not be a political office bearer


9.5 Other members of the Audit Committee must—
9.5.1 have appropriate experience;
9.5.2 be appointed on one year contracts, renewable by agreement.


9.6 The Audit Committee must meet at least twice a year.


9.7 The following people should be invited to attend all meetings of the Audit Committee-
9.7.1 Executive Officer;
9.7.2 the Chief Financial Officer of the SETA;
9.7.3 the internal auditor of the SETA;
9.7.4 a representative from the office of the Auditor-General.


9.8 The services of a member of the Audit Committee may only be terminated prematurely, with the consent of the Minister.


9.9 The Audit Committee must report and make recommendations to the Council and must annually provide written comment for inclusion in the annual report of the SETA on—
9.9.1 the effectiveness of internal controls:
9.9.2 the quality of management reports submitted in terms of the Public Finance Management Act, 1999.