In 2011 the Institute of Directors in Southern Africa (IoDSA), The Institute for Internal Auditors in South Africa (IIASA), the South African Institute of Chartered Accountants (SAICA), The Institute of Risk Management South Africa (IRMSA), National Treasury (NT), the Auditor-General South Africa (AGSA) and Development Bank of Southern Africa (DBSA) embarked on a joint effort to constitute a Public Sector Audit Committee Forum (“PSACF” or “the Forum”) to facilitate guidance of and assistance to members of public sector audit committees.
The activities of the Forum have specific focus on the governance and accountability role and duties of public sector audit committee members
The activities of the Forum are funded by National Treasury and the Institute of Directors in Southern Africa act as secretariat for the PSACF.
The objectives of the PSACF are as follows:
• To raise awareness of matters that relate to the function, duties and composition of
public sector audit committees;
• To provide a database of individuals who are experienced and qualified to serve as
public sector audit committee members;
• To be alert to and consider matters concerning public sector audit committees in
the public domain;
• To provide thought leadership on the function, duties and composition of public
sector audit committees by discussing, researching, developing and disseminating
position papers and good governance guidance;
• To embark on initiatives that address the development of current or potential public sector
audit committee members;
• To support public financial management, governance, risk and control initiatives to
improve audit outcomes across all spheres of government.