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INDEPENDENT DEVELOPMENT TRUST (IDT) VACANCIES
INDEPENDENT DEVELOPMENT TRUST (IDT)
APPLICATION AND / OR NOMINATION FOR AN INDEPENDENT MEMBER TO SERVE ON THE AUDIT, RISK AND COMPLIANCE COMMITTEE
Company History
The Independent Development Trust (IDT) is listed, in terms of the Public Finance Management Act No. 1 of 1999 (as amended), as a Schedule 2 entity, mandated to deliver social infrastructure as contribution to the National Development Goals and the Strategic Infrastructure Projects. It delivers social infrastructure programmes using a participatory approach leaning towards people-centeredness and incorporates empowerment of historically vulnerable groups in enterprise development and Broad Based Black Economic Empowerment indicators.
Requirements:
5 years’ experience as a member of an Audit Committee.
NQF Level 9: Masters in Accounting/ Auditing/Finance/IT.
Ideally a qualified accountant with excellent financial management, audit and regulatory knowledge and experience both at operational and strategic levels (CA (SA) will be an added advantage.
Substantial track record of success as an Executive or Non-Executive Director, ideally within the Built-environment Professional Services Sector.
Strong commercial background and understanding.
Proven success in developing and implementing profitable growth strategies.
Real enthusiasm for mutuality and serving the needs of the other Committee Members.
Ability to exercise independence.
Demonstrates integrity.
Good communication, analytical and negotiation skills.
Preference will be given to equity candidates.
Competencies in either of the following areas:
Internal or external auditing.
Finance.
Information and Communications Technology (ICT).
Corporate Governance.
Accounting.
Legal Services.
Corporate Governance.
Scope of work:
Review the effectiveness of the internal control systems.
Review IDT's operations risk areas covered in the scope of internal and external audits, including forensic audits.
Review the adequacy, reliability and accuracy of financial information provided by management to other users of such information.
Review any accounting auditing concerns identified as a result of internal and external audits.
Review IDT’s compliance with legal and regulatory provisions.
Review the activities of the Internal Audit function, including its Annual Plan, coordination with the external auditors, the reports of significant investigations and the responses of management to specific recommendations.
Review and recommend Annual Report for approval by the Board.
Review the Annual Financial Statements for inclusion in the Annual Report.
Report on the effectiveness of internal controls in the Annual Report.
Review the expertise, resources and experience of Internal Audit and the Finance functions.
Review regular reports on (core business) funding and the entity's liquidity position and monitor compliance with funding agreements.
Act as a channel of communication between the Board and management, internal auditors, external auditors, risk and compliance function by receiving timely reports and resolution of the issues.
Perform such functions as required from time to time by National Treasury in regulations relating to public entities.
Ensure the application of the Combined Assurance Model to address key risks faced by the organization.
Where relevant, review the independence and objectivity of the external auditors.
Oversee the establishment of appropriate controls and anti-fraud programs.
APPLICATION AND / OR NOMINATION FOR AN INDEPENDENT MEMBER TO SERVE ON THE AUDIT, RISK AND COMPLIANCE COMMITTEE
Company History
The Independent Development Trust (IDT) is listed, in terms of the Public Finance Management Act No. 1 of 1999 (as amended), as a Schedule 2 entity, mandated to deliver social infrastructure as contribution to the National Development Goals and the Strategic Infrastructure Projects. It delivers social infrastructure programmes using a participatory approach leaning towards people-centeredness and incorporates empowerment of historically vulnerable groups in enterprise development and Broad Based Black Economic Empowerment indicators.
Requirements:
5 years’ experience as a member of an Audit Committee.
NQF Level 9: Masters in Accounting/ Auditing/Finance/IT.
Ideally a qualified accountant with excellent financial management, audit and regulatory knowledge and experience both at operational and strategic levels (CA (SA) will be an added advantage.
Substantial track record of success as an Executive or Non-Executive Director, ideally within the Built-environment Professional Services Sector.
Strong commercial background and understanding.
Proven success in developing and implementing profitable growth strategies.
Real enthusiasm for mutuality and serving the needs of the other Committee Members.
Ability to exercise independence.
Demonstrates integrity.
Good communication, analytical and negotiation skills.
Preference will be given to equity candidates.
Competencies in either of the following areas:
Internal or external auditing.
Finance.
Information and Communications Technology (ICT).
Corporate Governance.
Accounting.
Legal Services.
Corporate Governance.
Scope of work:
Review the effectiveness of the internal control systems.
Review IDT's operations risk areas covered in the scope of internal and external audits, including forensic audits.
Review the adequacy, reliability and accuracy of financial information provided by management to other users of such information.
Review any accounting auditing concerns identified as a result of internal and external audits.
Review IDT’s compliance with legal and regulatory provisions.
Review the activities of the Internal Audit function, including its Annual Plan, coordination with the external auditors, the reports of significant investigations and the responses of management to specific recommendations.
Review and recommend Annual Report for approval by the Board.
Review the Annual Financial Statements for inclusion in the Annual Report.
Report on the effectiveness of internal controls in the Annual Report.
Review the expertise, resources and experience of Internal Audit and the Finance functions.
Review regular reports on (core business) funding and the entity's liquidity position and monitor compliance with funding agreements.
Act as a channel of communication between the Board and management, internal auditors, external auditors, risk and compliance function by receiving timely reports and resolution of the issues.
Perform such functions as required from time to time by National Treasury in regulations relating to public entities.
Ensure the application of the Combined Assurance Model to address key risks faced by the organization.
Where relevant, review the independence and objectivity of the external auditors.
Oversee the establishment of appropriate controls and anti-fraud programs.
Please forward your applications including copies of your academic qualifications to Jobs6@idt.org.za.
Enquiries: Masesi Koto Tel: 012 845 2044/ 082 859 2059
Closing date: 27 August 2023