The Board of Trustees (“Board”), in terms of section 36(10) of the Medical Schemes Act 131 of 1998, are required to appoint an Audit Committee of at least five (5) members, of which at least two (2) are members of the Board of Trustees. The remaining three (3) members are independent of the Board, including the Chairperson.
An Audit Committee Charter that provides guidance to its members determines its authority and duties. The Audit Committee’s primary responsibilities include assisting the Board of Trustees to evaluate the adequacy and efficiency of the scheme’s internal controls, accounting practices, financial reporting processes, information systems and risk management. The committee’s other responsibilities include providing oversight on external reports (other than financial statements) and guiding the combined assurance processes applied by the scheme and its service provider network.
The Audit Committee considers and recommends the appointment of the external auditors, monitors them and reports on their independence to the Board. The Committee is also responsible for appointing and assessing the performance of the Chief Audit Executive. They also approve the Internal Audit Plan, the annual review and the approval of the Internal Audit Charter.
Independent Audit Committee Chairperson
Mr Motshoanedi Joe Lesejane
Tenure Expires on 31 Dec 2023
Independent Audit Committee Member
Ms Carolynn Joan Chalmers
Tenure Expires on 31 Mar 2025