56-57-audit committe

Report of the audit committeeWe are pleased to present our report for the financial THE EFFECTIVENESS OF INTERNAL CONTROLyear ended 31 March 2005. We have reviewed various reports made by the internal auditors, the qualified audit report on the AUDIT COMMITTEE MEMBERS AND Annual Financial Statements including matters of ATTENDANCE emphasis contained therein, and the management letter of the Auditor-General. In terms of these The Audit Committee met during the financial year on reports there has been significant or material non-5 occasions in terms of the charter. Meetings were compliance with prescribed policies, procedures held on the following dates 1 March 2004, 1 June 2004, and internal controls including:27 August 2004, 29 November 2004, and 1 March 2005. 1. The Capstone 518 (Pty) Ltd matter as reported in the Auditor-General’s report 3.4.1 and 5.2.Members and their attendance at meetings during the year were as follows: 2. Lack of basic and fundamental compliances to policies of procedures in particular bank Members Meetings attendedreconciliations, interdepartmental accounts, leave Malcolm Brown (Chairperson) 5 processing, creditors etc. not being performed.Mamoorosi Qacha (Deputy Chairperson) 53. Fruitless and wasteful expenditure as highlighted Zola Fihlani 5 in the Auditor-General’s report 3.3.1Dr. Laetitia Rispel 44. A business Continuity Plan including a Disaster Mike Roussos 2Recovery Plan that has not been finalised and Jack ...