Internal Audit’s Strategic Evolution: A Reflection from the Bagaka Group x NRF 2026 CAE Leadership Forum At the Bagaka Group x NRF 2026 Chief Audit Executives Leadership Forum, one message stood out above all others. In his keynote address, NRF Chief Financial Officer and Group Executive: Finance & Supply Chain, Bishen Singh, challenged audit leaders
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Governance, Risk and Internal Audit Perspective on March on March Protests The recent March‑on‑March protests in South Africa, driven by opposition to the presence of illegal foreigners, have exposed significant vulnerabilities in organisational governance and risk management. In some cases, operations have been disrupted, particularly in markets and trading environments where foreign nationals form a
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The Nine Pillars of Internal Audit’s Strategic Role Internal audit is not merely a compliance mechanism; it is a strategic partner that strengthens governance, risk management, and organisational resilience. To achieve this role, at least the following nine pillars must be firmly established and consistently reinforced. 1. Board and Committee Support The strategic positioning of
Beyond the binary: structuring your internal audit function Internal Audit, together with other assurance providers, forms the third line of defence and has, strategically, proved its value over and over again. The existence of the function, to assess the adequacy and effectiveness of internal controls whilst also reviewing performance against strategic objectives, assures the Board
Internal Audit: The Safeguarder of Assets and Public Trust In governance circles, the phrase safeguarding of assets has long been associated with internal audit. Yet, in South Africa, this concept has matured beyond the protection of financial or physical resources. Today, it embodies the assurance that public funds are deployed effectively, ethically, and transparently. The
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Internal Audit: Introduction The beginning of May, recognized as Internal Audit Awareness Month, offers an opportunity to reflect on the strategic value of internal audit for all stakeholders. Far beyond its traditional compliance role, internal audit today is positioned as a partner in governance, risk management, and transformation. This article seeks to provide practical demonstrations
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Political Interference: The Governance Risk Boards Cannot Ignore Political interference is not a minor inconvenience, it is a structural governance risk that weakens accountability and undermines institutional integrity. In constitutional democracies, political oversight is legitimate and necessary. Yet when oversight shifts into interference, the independence of boards and executives is compromised, probity is diminished, and
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Safeguarding Public Value: The Case for Supplier Risk Management As South Africa advances its procurement systems in line with the Public Procurement Act 28 of 2024, the effective management of supplier risks has become essential, shifting from administrative oversight to a critical instrument of accountability and resilience. Public entities must perceive Supplier Performance Management as
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Emerging Cyber Risks: Why Reviewing Controls Is Not Enough Annually, CEOs, Boards of Directors and organisational management review policies to ensure they remain relevant, effective against existing and emerging risks, and compliant with evolving laws and regulations. These reviews are critical to helping organisations achieve strategic objectives, safeguard assets, improve operational efficiency, and maintain regulatory
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Local Government Reform: Audit, Risk and Compliance Imperatives for Business Published in 1998, the White Paper on Local Government became a cornerstone of South Africa’s democratic transition. It provided a blueprint for municipalities to operate as developmental institutions, charged with improving service delivery and fostering inclusive economic growth. Nearly three decades later, however, the limitations
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