Audit Member at Independent Development Trust

Entity History 
The Independent Development Trust (IDT) is listed as a Schedule 2 entity in terms of the Public Finance Management Act No. 1 of 1999 (as amended). The IDT is mandated to deliver social infrastructure as a contribution to the National Development Goals and the Strategic Infrastructure Projects. It delivers social infrastructure programmes using a participatory approach leaning towards people-centeredness and incorporate empowerment of historically vulnerable groups in enterprise development and Broad Based Black Economic Empowerment indicators. 

Requirements:

• Audit Committee Member experience in years - 5 years. 
• Excellent financial management, audit and regulatory knowledge and experience both at operational and strategic levels. 
• Substantial track record of success as an Executive or Non-Executive Director, ideally within the Built-environment Professional Services sector. 
• Strong commercial background and understanding. Proven success of developing and implementing profitable growth strategies. 
• Real enthusiasm for mutuality and serving the needs of Committee Members. 
• Ability to exercise independence. 
• Demonstrates integrity. 
• Good communication, analytical and negotiation skills. 
• Preference will be given to equity candidates 

Competencies in either of the following areas: 

• Internal or external auditing. 
• Risk and Compliance Management. 
• Information and Communications Technology (ICT). 
• Corporate Governance. 
• Accounting.
• Legal Services. 
• Corporate Governance. 

Scope of work: 

• Review the effectiveness of systems of internal control. 
• Review IDT's operations risk areas covered in the scope of internal and external audits, including forensic audit. 
• Review the adequacy, reliability and accuracy of financial information provided by management to other users of such information. 
• Review any accounting auditing concerns identified as a result of internal and external audits. 
• Review IDT’s compliance with legal and regulatory provisions. 
• Review the activities of the internal audit function, including its annual work programme, coordination with the external auditors, reports of significant investigations and the responses of management to specific recommendations. 
• Review and recommend Annual Report for approval by the Board. 
• Comment on the Annual Financial Statements in the Annual Report. 
• Report on the effectiveness of systems of internal controls in the Annual Report. 
• Review the expertise, resources and experience of the finance function. 
• Review regular reports on (core business) funding and entity's liquidity position and monitor compliance with funding agreements. 
• Act as a channel of communication between the Board and management, internal auditors, external auditors, risk and compliance function by receiving timely reports and resolution of 
• Issues.
• Perform such functions as required from time to time by National Treasury in regulations relating to public entities. 
• Ensure application of the Combined Assurance Model to address key risks faced by the organization. 
• Where relevant, review the independence and objectivity of the external auditors. 
• Overseeing the establishment of appropriate controls and anti-fraud programs. 

Enquiries: Masesi Koto Tel: 012 845 2044