Financial and Compliance Auditing
The core responsibility of the Board is in relation to financial and compliance auditing. In this regard, the Board is required to, inter alia, ascertain whether:
- The financial statements present fairly the financial position as at the end of the period and the results of operations for the period then ended;
- The financial statements were prepared in accordance with the stated accounting principles;
- The accounting principles were applied on a basis consistent with those of the preceding financial period; and
- Transactions were in accordance with the Financial Regulations and legislative authority.