Nkonki Conference focuses on key role of Audit Committees in ensuring oversight in SOCs and National Government Departments

Johannesburg –  Today, 28th September, assurance and advisory firm Nkonki hosts the 6th Annual Audit Committee Conference specifically focused on assisting Audit Committees of National Government Departments and State Owned Companies (SOCs) to cope with their fiduciary responsibilities and challenges. The one-day event takes place at the Gallagher Convention Centre, Midrand, Gauteng.  

The keynote speaker for the plenary session is the Auditor General of South Africa, Mr Kimi Makwetu, providing a high level snapshot on the findings of the most recent PFMA results and what Audit Committees can do better in terms of helping improve the results in future. He is followed by the Independent Regulatory Board for Auditors addressing reforms in the auditing profession, and Nkonki Internal Audit Services Partner, Mr Kiran Bhika, talking about the expected control framework in the supply chain environment in the public sector.  

Because the conference caters for both the National Government Departments and SOCs, there are two separate sessions following this plenary session, each devoted to the needs of these entities respectively. Highlights of the breakaway for SOCs include a presentation by Eskom’s Chief Audit Executive, Mr Molefi Nkhabu, on effective Internal Audit assurance, and shareholder expectations of Audit Committees during challenging times by Mr Clive Selwadi, the Chief Risk Officer of the Department of Public Enterprises.  

A key feature of this session are the findings of Nkonki’s 6th SOC Integrated Reporting report, the winners of which will be announced later in the day. This is being presented by Ms Thuto Masasa, Nkonki’s Lead Partner for Integrated Reporting.  

The session for National Government Departments features a talk on the Audit Committee’s role in ensuring a clean audit opinion in the public sector environment by seasoned public sector Audit Committee member, Ms Judy Gunther; following this is Nkonki Lead Partner for the Public Sector, Mr Temba Zakuza, presenting on key areas to improve within the supply chain management controls environment. And rounding off is Mr Thabiso Ramasike, CEO of the Gerald Group and highly experienced public sector Audit Committee member, presenting on what it takes to exercise good corporate governance in National Departments.  

The afternoon’s plenary session includes presentations on preventing fraud and corruption – what Audit Committees can do beyond the Fraud Prevention Plan, by Mr Karthi Naicker, a Director in Nkonki’s Risk Advisory Services team, followed by “Information systems, the key to strengthening the control environment” by Nkonki IT Advisory & Assurance Services Director, Mr Terence Mupeti. The day’s proceedings close with Mrs Phindile Baleni, Director General, Premier’s Office, Gauteng Province talking about the key issues Audit Committees that expected to excel on and how this has led to Gauteng’s success in gaining clean audit opinions.  

This conference follows the very successful Annual Audit Committee Conference for Listed Companies, which took place in August, and forms part of Nkonki’s thought leadership focused on Audit Committees and their vital role in ensure good corporate governance. This is the sixth year in which Nkonki has held these conferences.

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