DEPARTMENT OF BASIC EDUCATION AUDIT COMMITTEE

Transcript:DEPARTMENT OF BASIC EDUCATION AUDIT COMMITTEE:
DEPARTMENT OF BASIC EDUCATION AUDIT COMMITTEE PRESENTATION PORTFOLIO COMMITTEE ON BASIC EDUCATION 15 OCTOBER 2024 PRESENTATION OUTLINE Purpose Audit Committee Responsibility Internal Audit Oversight Audit Committee Meetings General improvements/challenges in control environment Monitoring the investigations on Irregular and Fruitless and Wasteful Expenditure Regularity Audit (Root Causes/Action) Performance Information audit (Annual Report) Financial Performance of DBE Audit Action Plan Conclusion 2 PURPOSE To brief the Portfolio Committee on the activities of the Audit Committee of the Department of Basic Education (DBE) 2023/4 3 AUDIT COMMITTEE RESPONSIBILITY Oversight over Internal and External Audit; Oversight over the implementation of Internal and External Audit recommendations; Oversight over Risk Management; Oversight over the quality of Financial Statements; and Oversight over the system of internal control for the generation, collation and reporting of Performance Information. Oversight on investigation progress on irregular expenditure and material irregularities 4 INTERNAL AUDIT OVERSIGHT Key assurance provider to the Audit Committee Conducted fifteen (15) audits as per approved risk-based audit coverage plan, and thirteen (13) management request on consulting engagements ASIDI Audits at two (2) Implementing agents ( NECT, and TMT Eastern Cape) on the review of SCM compliance process, contractor's payments, and project management. Performance Information quarterly reviews were conducted, and findings are also shared with management to address findings before year end audit. Reviews on the annual report and annual financial statement and areas of improvement were communicated prior submission to the AGSA year end audit. A follow up on AGSA previous findings review was conducted for DBE and Implementing Agents, 80% of previous findings were resolved. Presented the quarterly progress reports against the approved plan at the Audit Committee meetings. Coordinated a special audit committee meetings on the review of the audit action plan on 16 August 2023 and status on investigations and consequence management with management held on 6 September 2023.. 5 INTERNAL AUDIT OVERSIGHT Advise management through audit assurance, by providing recommendations to improve internal controls. Coordinated a special in-committee meeting held on 28 November 2023 with DG, CFO, and Legal Services on the progress on material irregularities. In respect of the recently concluded AGSA audits, an Audit Committee meeting to review the current audit action plan held on the 10 September 2024 There was a special workshop by DG for Audit Committee on Curriculum and Infrastructure held on 15 April 2024 Conducted investigations on irregular and fruitless and wasteful expenditure, and reports were referred after