South Africa: Select Committee on Finance Adopts Public Audit Amendment Bill
The bill will also provide for additional reporting requirements; and to provide for a maximum amount or percentage of audit fees that can be defrayed from the vote of National Treasury
The Select Committee on Finance has adopted the Public Audit Amendment Bill without amendments. The bill will give the Auditor-General greater powers to act against those found to have wasted public funds.
The bill seeks to amend the Public Audit Act, 2004, so as to insert new definitions; to provide for certainty on the discretion of the Auditor-General with regard to certain audits; and to authorise the Auditor-General to provide audit or audit-related services to an international association, body, institution or organisation. It will also allow the Auditor-General to refer undesirable audit outcomes, arising from an audit performed under the Act, to an appropriate body for investigation; and to provide for the Auditor-General to recover losses in certain instances against the responsible persons.
The bill also seeks to provide for the establishment, powers and functions of a remuneration committee; and to provide for consultation between the Independent Commission for the Remuneration of Public Office-bearers and the remuneration committee. The bill will also provide for additional reporting requirements; and to provide for a maximum amount or percentage of audit fees that can be defrayed from the vote of National Treasury. The bill also seeks to revise the provisions relating to the appointment of an audit committee for the Auditor-General; to empower the Auditor-General to make regulations on specific issues; and to provide for matters connected therewith.
The bill was referred to the National Council of Provinces for concurrence after the National Assembly unanimously passed the bill. Committee Chairperson Mr Charel De Beer said the bill will give the Auditor-General the power to take remedial action.
Distributed by APO Group on behalf of Republic of South Africa: The Parliament.