This meeting, which was opened by a speech by Mr. Patrice Motsepe, President of CAF, highlighting the strategic importance of this commission, was an opportunity to present the progress of the recommendations of the Audit and Compliance Commission, the Internal Audit Report and the roadmap as well as the reports of the external auditor and the financial statements, according to a press release received by MAP on Thursday.
The Audit Committee plays a key role at CAF. Its main objective is to monitor and control compliance with the principles of good governance and compliance within CAF.
It also approves the accounts as certified by the Auditors and examined by the Finance Committee chaired by the President of the FRMF, Fouzi Lekjaa.
Furthermore, since his appointment as Chairman of the Audit and Compliance Committee in 2018, Mr. Sijilmassi has closely followed the implementation of the recommendations issued by the committee, in particular the creation of an internal control structure, the establishment of a risk map, the definition of the compliance status within the CAF and the implementation of a procedures manual governing the activities of the institution, namely the operating and investment budget, purchases/supplies, human resources management and treasury and financial operations.
The audit committee, at its meeting held on Monday, June 20, recommended that the CAF administration ensure that all procedures are updated and plan a training program to familiarize its staff with the management rules for all activities.
He also insisted on the harmonization of the financial statements of member federations by considering June 30 as the closing date of their financial year. Finally, Mr. Sijilmassi, Chairman of the Audit Committee, proposed that the meetings of the CAF Audit and Compliance Committee be held quarterly in order to ensure regular monitoring and control of the principles of good governance.
2024-09-07 19:16:35