)INVITATION FOR APPLICATIONS FROM INTERESTED PARTIES TO SERVE AS INDEPENDENT MEMBERS OF THE AUDIT AND RISK COMMITTEE OF THE MEDIA, INFORMATION AND COMMUNICATION TECHNOLOGIES SECTOR EDUCATION AND TRAINING AUTHORITY (MICT SETA) FOR A PERIOD ENDING 31 MARCH 2025.
The MICT SETA is a Schedule 3A public entity, established by the Minister of Higher Education and Training on 1 April 2011. It is governed by the Skills Development Act 97 of 1998, The Public Finance Management Act 1 of 1999, the National Treasury Regulations, Standard SETA Constitution and other relevant laws. The MICT SETA subscribes to the principles of the King IV Code of Corporate Governance.
In terms of Item 8 (2)(d) and Annexure 5 (2)(2) of the MICT SETA Constitution the MICT SETA wishes to appoint three suitably qualified and experienced individuals to serve as independent members of the MICT SETA Audit and Risk Committee for the period ending 31 March 2025.
Requirements: Suitable candidates should meet the following minimum requirements:
- A relevant degree or equivalent qualification in Accounting, Risk Management or Auditing and must be registered with the South African Institute of Chartered Accountants (SAICA).
- Proven expertise and experience in the fields of financial management; risk management; performance management and internal auditing is a pre requisite.
- Knowledge in developing and reviewing Risk Management Strategy.
- Knowledge in developing and reviewing Risk Awareness Strategy
- Knowledge in developing and reviewing Risk Management Policy.
- Knowledge in developing and reviewing Fraud Prevention Policy.
- Knowledge in developing and reviewing Risk Appetite and Tolerance levels
- The Audit and Risk Committee will carry out its responsibilities as legislated by the Public Finance Management Act and Treasury Regulations, and operate according to its approved charter. The roles and responsibilities of the Audit Committee are clearly defined in the approved charter of the Committee.
- The Audit Committee will fulfil its oversight responsibilities to ensure that the Board maintains effective, efficient and transparent systems of financial and risk management and internal control.
- The Committee will review the effectiveness of the Internal Audit Activity and provide direction; the work of external auditors and the Board’s financial statements.
- The Audit Committee will also ensure compliance with legislation and assist the Accounting Authority in the effective execution of their responsibilities by reporting and making recommendations to the Accounting Authority on a regular basis.
- Evaluation of the adequacy and effectiveness of the risk management process followed and the fraud prevention plans.
- Ensure that management creates an appropriate internal control system, incorporating proper record keeping designed to prevent the occurrence of errors and irregularities, to timeously detect errors and irregularities that may nevertheless occur, to safeguard the assets of the MICT SETA and to ensure that management demonstrate the necessary respect for the system of internal control;
- Ensure that there is Monitoring of the control processes through the results of internal and external audit process. The monitoring includes internal auditors’ review of the adequacy and effectiveness of the MICT SETA’s internal control systems and the quality of management performance in carrying out assigned responsibilities. It also includes the extent to which resources are utilized in an efficient and economic manner and that programmes are carried out as planned; and
- Knowledge of the Skills Development Act 97 of 1998, Public Finance Management Act 1 of 1999 (PFMA), as amended; the National Skills Development Strategy (NSDS) III; National Treasury Regulations; SETA Constitution; Industry standards as well as relevant laws and regulations.
Enquiries/Applications (i.e. CV’s with the relevant qualifications) must be addressed to:
Madimetja Tisana (Mr)
Closing Date: 25 May 2020