The Mandela Bay Theatre Complex (MBTC) is a schedule 3A public entity accountable to the Executive Authority, the Minister of Sport, Arts and Culture (DSAC) with a vision of becoming the leading producer of excellence and job creation for performing arts in the Eastern Cape. The MBTC is mandated to serve the performing arts sector of the Eastern Cape. This mandate positions the MBTC as a key enabler in advancing the production of historical play, cutting edge socio-political story telling and innovative dance promised on and influenced by traditional Xhosa and Khoi heritage, repurposing, and reversion the musical treasure that the Eastern Cape houses.
The MBTC invites interested persons who are independent, suitably qualified and experienced in financial management, accounting, risk management, auditing, law; and Information and Communication Technologies (ICT) to serve as members (3 vacancies) of the MBTC Audit & Risk Committee. Position Details: Requirements: Department:
Gqeberha, Eastern Cape Period:
Three-year Fixed Term Contract to start 01 August 2022 Remuneration:
in accordance with the National Treasury Framework for Appointment and Remuneration of Audit Committee MembersKey Responsibilities:
- Overall, applicants will execute the committee mandate, as articulated in the applicable sections of the Treasury Regulations and the Public Finance Management Act and the Committee Charter. This includes: overseeing the effectiveness and reliability of the financial and non-financial internal control and risk management
- Advising the Accounting Officer on matters relating to the financial and risk management. Independently reviewing the reporting processes to ensure the integrity of reports
- Monitoring the effectiveness of institutional performance management
- Providing effective oversight of the internal audit function
- Providing oversight on the implementation of plans to address audit issues
- Providing oversight on the institutional compliance with legislative and regulatory requirements
- Promoting a culture committed to lawful and ethical behavior, including oversight of fraud management
- Examine and review the annual financial statements before final approval thereof and review any significant incidents of a criminal or irregular nature.
- Monitoring the alignment of delivery of ICT services with the departments strategic goals
- Overseeing the process for identifying and addressing financial reporting risks, which may include cyber risks
- Considering the use of technology to improve audit coverage and efficiency
- Oversight of IT risks
- Applicants must hold a relevant tertiary qualification and professional certification in auditing/accountancy/legal/risk management/ICT and must be an active member of the relevant professional bodies.
- A minimum of 5 years' experience in audit committee, preferably in the public sector environment is required.
- Knowledge and understanding of internal controls, major accounting, and public sector reporting processes.
- Knowledge of public sector legislation and policies including PFMA, GRAP etc.
- Knowledge of the COBIT model for assessing IT risks as well as other IT governance frameworks, models, and standards
- Knowledge of IT acquisition and implementation and use of ICT.
- A sense of integrity and strong ethical values; an ability to act honestly and in good faith in the public interest; sound understanding of the mandate of the committee; independence and objectivity, goal orientation and transformative outlook; good understanding of auditing, compliance with public entities laws and regulations, and risk management practices; leadership qualities; professionalism
- An understanding of the applicable accounting standards (GRAP). They must show willingness to exercise due diligence, and to provide sound advice to the Accounting Authority.