You are the senior consultant at a firm specialising in advising newly formed public companies. The advice provided to these companies is mainly given to the accounting authority, the Chief Financial Officer and Audit Committees. You are currently working on a newly acquired client, Healthy Living (SOC Limited). You have been tasked with leading the team that will be advising the company's audit committee. Required Discuss the responsibilities of the audit committee in a public sector company in terms of the Public Finance Management Act. (15 Marks)