The Report of the Audit Committee
Analysing the trends in South Africa
The need for the audit committee to be recognised as a bastion of accountability and transparency in the company is paramount. In South Africa, audit committees are highly regarded and regulated with legislation and regulation specifically governing the duties and composition of the committee
In 2015, Deloitte analysed audit committee reports of the top 50 Johannesburg Stock Exchange (JSE) listed companies with a primary listing in South Africa. We gleaned trends regarding the compliance of the audit committee reports with provisions of the Companies Act of South Africa, the JSE Listings Requirements and the King Report on Governance for South Africa. Our study also revealed insights into the composition and meetings of the committee.