| (b) | appoint the members of the audit committee. |
[Section 40(1) substituted by section 13 of Notice No. 1260, GG 42045, dated 20 November 2018]
| (2) | The audit committee must consist of at least three persons of whom the majority may not be in the employ of the Auditor-General. |
| (3) | The chairperson of the audit committee— |
| (a) | may not be in the employ of the Auditor-General; and |
| (b) | must be independent, knowledgeable of the status of the position, have the requisite business, financial and leadership skills and may not be a political office bearer. |
| (4) | The membership of the audit committee must be disclosed in the annual report of the Auditor-General referred to in section 41. |
| (5) | The audit committee must meet at least three times a year. |
| (a) | must in the annual report referred to in section 41 comment on— |
| (i) | the effectiveness of internal control; and |
| (ii) | its evaluation of the Auditor-General’s annual financial statements; and |
| (b) | may communicate any concerns it may have to the— |
| (ii) | external auditor of the Auditor-General; and |
