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Overview

Opinion leaders in Retirement Funds industry present at Nkonki Audit Committee Conference

On Monday 3 August, assurance and advisory firm Nkonki hosted the first in a series of one-day conferences aimed at improving audit committee effectiveness, which is critically linked to ensuring good corporate governance in organisations. This conference, held at the Sandton Convention Centre in Gauteng, focussed specifically on assisting audit committee chairs and members in the retirement fund industry. This was the first such conference in South Africa.

The conference came at a particularly crucial time as there is currently a huge challenge in the retirement funding industry – Government's new reforms are extensive and it is increasingly giving attention to how retirement funds are governed. In addition, the new regulatory regime for the entire financial services sector, "Treating Customers Fairly", has huge implications for the retirement industry. This year's theme was "Enhancing Audit Committee Oversight Capabilities in the Retirement Fund Industry", which continued to drive the edification of audit committee members, particularly as they also experience increased pressure globally to account for the financial decisions made in their organisations.

Amongst the speakers were the Deputy Minister of Finance Mcebisi Jonas, the Deputy Director General and Head of Tax, Financial Sector Policy Ismail Momoniat and the Head of the Financial Services Board, Advocate Dube Tshidi.

The Nkonki Annual Audit Committee Conference was launched in 2011, out of the need to assist audit committee members to be fully equipped for the fiduciary responsibilities they have to discharge. The intention was to provide a platform for them to discuss common problems and share solutions. Over the years, the conference has drawn delegates who serve on audit committees in both the private and public sectors, and feedback shows that they derive great value from the high calibre of speakers that engage with them at the conference, as well as the practical approach that the conference takes.

This year was no different, with highly-regarded industry figures such as Muvhango Lukhaimane, Pension Fund Adjudicator, Sbu Luthuli, the Deputy Chairman of Batseta – Council For Retirement Funds, Wyne van Rensburg, the President of Institute of Retirement Funds Africa, and Notburga Mathias, Retirement Funds Institute of Namibia, attending as speakers and panellists. Industry experts Neil Savage and Mike Brown also participated, amongst others.

Download the conference programmes: