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Invitation to serve on the National Arts Council Audit and Risk Committee

Main purpose: To provide oversight on behalf of the Council of the NAC, on the effectiveness of the control environment, compliance with legal and regulatory procedures, financial reporting, risk management procedures, internal and external audit functions, and other matters as outlined in the PFMA and Treasury Regulations.

Description

  • The National Arts Council of South Africa (NAC) is a Schedule 3A Public Entity in terms of the Public Finance Management Act (PFMA). The NAC is governed by the National Arts Council Act 56 of 1997 as amended by the Cultural Laws Amendment Act 36 of 2001 and is responsible for development of the Arts sector in South Africa.
  • NAC is seeking to appoint a suitable qualified and experienced person to serve as a member of the Audit and Risk Committee (ARC).
  • The Committee is governed by an approved ARC Charter and meets at least 4 times per annum.
    Key Responsibilities of the ARC
  • Monitor and review, on behalf of Council, the effectiveness of the control environment.
  • Ensure Compliance with legal and regulatory procedures.
  • Review and provide inputs into the monthly, quarterly and Annual Financial Statements of the entity.
  • Provide oversight on risk management procedures and internal and external audit functions.
  • Provide an independent and objective review of financial and other information prepared by management.
  • Oversee effective corporate governance
  • Oversee the Authority relationship with external auditors and determine the independence thereof.

Qualifications and Experience

  • A relevant Bachelor’s Degree or equivalent qualification in Law and/or Accounting.
  • 5-year legal experience in serving on a public sector governance committee
  • General experience in Public Sector Management.
  • Good understanding of Corporate Governance, Internal Audit, Risk management and Information Technology Governance with specific knowledge of compliance and regulatory frameworks and environment.
  • Members functioning at a senior level, will receive preference.
  • Working knowledge of the PFMA, Treasury Regulations and other related public sector legislation.
  • Strategic knowledge on the sector.

Attributes

  • Independence
  • Integrity
  • Objectivity
  • Willingness to dedicate time and vigour to Council
  • Excellent communication skills

The term of office will be three (3) years, subject to review on recommendation by the Council.

Remuneration of Audit and Risk Committee members will be in accordance with rates determined by the National Treasury.

Shortlisted candidates will be invited for interviews, to be conducted by a panel appointed by the NAC Council. It will be the prerogative of the Council to make the final appointment upon recommendation by the Selection Committee.

Applications must be submitted in writing and must at least contain a detailed CV, motivation for appointment, certified copies of Identity Document and qualifications and three contactable references.
Applications must be sent to the following address: info@nac.org.za

Closing Date: 21 September 2018

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