Page 52 - KZN Film Annual Report 2023/2024

KWAZULU-NATAL FILM COMMISSION
Health Safety and Environmental
Issues
The entity has a Health and Safety Committee appointed to look after all health and safety issues at the workplace. On environmental issues, the entity has endeavoured to ensure that its systems are automated and therefore paperless in order to reduce carbon emissions. With respect to the industry at large, the entity has produced guidelines for environmental sustainability. The information has been shared with the industry practitioners and with the Municipalities.
Audit Committee Report
We are pleased to present our report for the financial year ended 31 March 2024.
Audit Committee Responsibility
The Audit Committee reports that it has complied with its responsibilities arising from Section 77 of the Public Finance Management Act and Treasury Regulation 3.1.13. The Audit Committee also reports that it has adopted appropriate formal terms of reference as its Audit Committee Charter, has regulated its affairs in compliance with this charter and has discharged all its responsibilities as contained therein, except that we have not reviewed changes in accounting policies and practices.
In-Year Management and Monthly/Quarterly
Report
The public entity has submitted monthly and quarterly reports to the Executive Authority as per the deadlines and dates outlined in the funding agreement.
Evaluation of Financial Statements
The committee:
• Confirmed, based on management’s review and
projected cash flows, that the AFS were prepared on a
going-concern basis
• Examined the AFS and other financial information made
public, prior to their approval by the board
• Considered accounting treatments, significant or unusual
transactions, and accounting judgements
• Considered the appropriateness of the accounting policies disclosed in the AFS and any changes made
thereto
• Considered any problems identified as well as any legal
and tax matters that could materially affect the financial statements
Based on the results of a formal, documented review of the design, implementation, and effectiveness of the organisation’s system of internal financial control (as conducted by the internal audit function); considering information and explanations given by management; and discussions with the external auditor on the results of their audit, the committee is of the opinion that KwaZulu-Natal Film Commission’s system of internal financial controls is effective and formed a fair basis for the preparation of reliable financial statements for the 2023/2024 financial year.
The ARC has also satisfied itself as to the integrity of the Annual Report.
Auditor’s Report
We have reviewed the public entity’s implementation plan for audit issues raised in the prior year and we are satisfied that the matters have been adequately resolved.
The Audit Committee concurs and accepts the conclusions of the external auditor on the annual financial statements and is of the opinion that the audited annual financial statements be accepted and read together with the report of the auditor.
_________________
Mr P. Ngcobo
Chairperson of the Audit Committee (KwaZulu-Natal Film Commission) Date: 30 July 2024
ANNUAL REPORT 2023/2024
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