Page 13 - TKZN Annual Report 2023/2024

STATEMENT OF RESPONSIBILITY
FOR THE YEAR END 31 MARCH 2024
MR. PAULOS NGCOBO
AUDIT AND RISK COMMITTEE CHAIRPERSON
The Public Finance Management Act1999 (Act No.1 of 1999), as amended, requires the Accounting Authority to ensure that the Public Entity keeps full and proper records of the financial affairs.
It also requires that the Annual Financial Statements fairly present the state of affairs of the Public Entity, its business, its financial results, its performance against pre-determined
objectives and its financial position as at the end of each financial year in terms of Generally Recognised Accounting Practices (GRAP).
The KwaZulu-Natal Tourism Authority acknowledges that the Annual Financial Statements are the responsibility of the members of the Authority.
The Auditor-General is responsible for independently auditing and reporting on the Annual Financial Statements.
The Annual Financial Statements have been prepared in accordance with GRAP. These Annual Financial Statements are based on appropriate accounting policies, supported by reasonable and prudent judgements and estimates.
The members have reviewed the Public Entity’s budget and cashflow forecasts for the year ended 31 March 2024. On the basis of this review, and in view of the current financial position, the members have every reason to believe that the Public Entity will be a going concern in the year ahead and have continued to adopt the going concern basis in preparing the Annual Financial Statements.
To enable the members to meet the above responsibilities, the Board sets standards and implements systems of internal controls
and risk management that are designed to provide reasonable, but not absolute, assurance against material misstatements and losses.
The Public Entity maintains internal financial controls to provide assurance regarding the safeguarding of assets against unauthorised use or disposition, and the maintenance of proper accounting records, and the reliability of financial information used within the business.
In the opinion of members, based on information available to date, the Annual Financial Statements fairly present the financial position of the KwaZulu-Natal Tourism Authority at 31 March 2024, the results of its operations and cashflow information for the year then ended, and that the Code of Corporate Governance has been adhered to.
The Annual Financial Statements for the year ended 31 March 2024, set out on pages 89 to 139 were approved by the Accounting Authority in terms of section 51(1)(f) of the Public Finance Management Act 1999 (Act No. 1 of 1999), as amended and are signed on its behalf by:
MR. PAULOS NGCOBO
Audit and Risk Committee Chairperson
TOURISM KWAZULU-NATAL ANNUAL REPORT 2023/2024 11