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You are an auditor of Khambule Advertising ( Pty ) Ltd a family - owned advertising company based in Johannesburg. Khambule Advertising has been in
You are an auditor of Khambule Advertising Pty Ltd a familyowned advertising company based in Johannesburg. Khambule Advertising has been in the advertising business for many years and has recently bought Mashaba Media in order to have a broader presence in the media industry. They have also decided to list on the Johannesburg Stock Exchange JSE You were approached by Jabu Khambule to help them determine if their Audit committee composition and structure is in line with good governance. The composition of the Audit Committee of Khambule Advertising is as follows:
Name Job description Board role Committee role
Jabu Khambule founder Chief Executive Officer Chairman of the Board Chairman of the Audit Committee
Dali Khambule wife of Jabu Chief Financial Officer Member Audit Committee member
Sizile Nkuna CIA Head of Internal Audit department Nonexecutive board member Audit Committee member
Eddie Masha CASA CEO of Mashaba Media Independent nonexecutive board member Audit Committee member
Sizwe Nxasana CASA None Independent nonexecutive board member Audit Committee member
Themba Hlatshwayo Chief Risk officer Member Audit Committee member and risk committee member
You are required to:
Clearly distinguish between the following
Executive directors, nonexecutive directors and independent nonexecutive directors
Advise Jabu Khambule and the board on the following:
Overall functions of the Audit Committee
Functions in relation to internal auditors
With reference to the Audit Committee, identify instances were Khambule Advertising Pty Ltd is not in compliance with King IV and recommend remedial action. Your answer should be in a table format
NonCompliance Remedial action what should be
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