Article: Performance audit & risk management committee structering

Some municipal managers and other senior managers as well as councillors sometimes have difficulty to decide on how audit committees and the risk management committees should be structured, positioned and implemented within their respective municipalities. The purpose of this article is to provide some clarity on this matter given the fact that different legislation and regulations as well as policy guidelines issued by the national government are governing the establishment of audit and risk management committees. This article sets out the:

  • requirements for a traditional audit committee
  • requirements of a performance audit committee and its alignment with the audit committee
  • requirements of a risk management committee and its alignment with the audit committee
  • recommendation as to the application.

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