A route operator must establish and maintain an internal audit function which shall provide, without limitation, for the following:
| a) |
the review and evaluation of the adequacy of internal controls; |
| b) |
monitoring the compliance with the minimum internal control standards and other provisions in terms of national and provincial legislation |
| c) |
the reporting to the board of directors or committee thereof, or management and the provincial licensing authority of instances of non-compliance with these minimum internal control standards or any national or provincial legislation; |
| d) |
the reporting to the board of directors or committee thereof, or management and the provincial licensing authority of any material weaknesses or shortcomings in the system of internal control; |
| e) |
The recommendation to management of procedures to eliminate any material weaknesses or shortcomings in the system of internal control; and |
| f) |
The preparation and maintenance of reports documenting the information referred to in subregulations (a) to (e). |
Statistics Act, 1999
