Financial and Compliance Auditing

The core responsibility of the members of the Panel is in relation to financial and compliance auditing. In this regard, the Panel 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 stated accounting principles;
• The accounting policies were applied on a consistent basis with those of the preceding financial period; and
• Transactions were in accordance with the relevant Financial Regulations and legislative authority.