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Audit committees get a leg-up on JSE-listed companies

JSE, Microsoft SA and Discovery Health CFOs among the speakers at Nkonki Audit Committee Conference for JSE-listed companies.

 

On Monday October 12, Assurance and Advisory firm Nkonki will host the next in its series of conferences to focus specifically on assisting audit committees – this time JSE-listed companies will fall under the spotlight. The one-day event will take place at the Hyatt Hotel in Rosebank, Johannesburg.

Dan Montgomery will be addressing the new International Standards on Auditing (ISA) Auditors Report and the changes this is expected to bring in terms of external audit requirements, including Key Audit Matters (KAMs) and ‘going concern’, whilst Dr Yach will speak about the emergent issue, fourth bottom line reporting, which aims to introduce employee wellness into the reporting matrix for organisations, along with profit (economic), planet (environment), people (social) – the so-called ‘triple bottom line’.

Other respected speakers include the CFO of the JSE Aarti Takoordeen; Microsoft South Africa CFO, Paul Marten; learned Audit Committee Chair Nigel Payne; Brett Tromp, CFO of Discovery Health; Dr Brian Brink, SADC Private Sector Constituency Chairperson; Leigh Roberts, Chair of the South African Integrated Reporting Working Group; and Kim Bromfield, Senior Executive: Corporate Reporting, South African Institute of Chartered Accountants (SAICA).

“Audit committees play a vital role in ensuring good corporate governance. However, they need to be effective in order to fulfil their obligations properly. It is imperative that audit committees are not only capable in terms of the regulatory requirements, but are also equipped with as much knowledge of the environment in which they operate, as well as the latest developments, if they in turn are going to assist the organisation they represent in discharging their oversight responsibilities appropriately,” says Mitesh Patel, Nkonki’s Managing Partner and Lead for the Listed Companies.

He adds that firms such as Nkonki are uniquely placed to advise audit committees in this regard. “For this reason we have given a great deal of thought to the programme for the conference, and we are delighted to have been able to secure such high-calibre speakers who are experts in their respective fields, and who no doubt will provide proper insight into their topics, so equipping delegates with knowledge that will positively impact performance in their oversight roles.”

Patel says that during its 22-year history the firm has developed deep expertise in working with audit committees and providing them with guidance on a range of issues. While Nkonki launched its Annual Audit Committee Conference in 2011 to assist Audit Committees to be fully equipped for the fiduciary responsibilities they have to discharge, Patel says that it became evident that a conference with a focus on listed companies was necessary this year.

“Our previous conferences for audit Ccmmittees earlier this year focused on the retirement funds industry and the public sector – both for State-owned companies (SOCs) and government and provincial government departments. We are happy to say that we have received excellent feedback from these conferences, with delegates saying that they gained deep insights from the programme topics and guest speakers. We are confident this will be true for the listed companies’ conference too.

“I am truly proud to part of an organisation which has a leading role in assisting members of audit committees to fully understand and fulfil their duties and obligations. Nkonki is passionate about being a part of sustainable governance of the country’s both in the corporate and public sector space – this is another way of demonstrating our ingenious ability to providing meaningful insight to key stakeholders that can impact South Africa’s future,” concludes Patel.

For more information on the conference please visit www.nkonki.com.

 

 

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