Audit Committee Effectiveness in the South African Provincial Treasuries: Regular Meetings and Commitments

Abstract

Considering annual reports of the municipalities and their audit committee reporting about the state of municipal governance, this study aims to investigate the effect of factors associated with the audit committee effectiveness in the South African Provincial Treasuries. Data for the nine provincial treasuries are employed in the analysis, collected from 2015 to 2017. A Chi Square P-Values was employed to determine if the P-value test results have some significant relationship or not. The results indicate that the regular meetings and commitments are significantly associated with the audit committee effectiveness, while the financial experience is not leveraging the effectiveness. These results are consisted with the literature and the nature of the expectations of audit committees formally outlined in the charter by National Treasury.