The Audit Committee Resolution is a crucial corporate governance document used in South African companies to formally record decisions made by the audit committee. It is required whenever the audit committee meets to make significant decisions regarding financial oversight, auditor appointments, risk management, or other matters within its purview. The document must comply with Section 94 of the Companies Act 71 of 2008 and align with King IV Report recommendations. The resolution is particularly important for demonstrating compliance with regulatory requirements, documenting the committee's discharge of its fiduciary duties, and maintaining a clear record of corporate governance practices. It's used by public companies, state-owned entities, and private companies that have voluntarily established audit committees.
Your data doesn't train Genie's AI
You keep IP ownership of your information
Thank you! Your submission has been received!
Oops! Something went wrong while submitting the form.
OR
Let Genie AI's market-leading legal AI identify missing terms, unusual language, compliance issues and more - in just seconds.
Upload your Doc
1. Meeting Details: Date, time, venue, and form of meeting (physical/electronic)
2. Attendance and Quorum: List of committee members present, absent (with or without apology), and confirmation of quorum requirements being met
3. Notice and Constitution: Confirmation that proper notice was given and meeting was properly constituted
4. Purpose of Meeting: Clear statement of the meeting's objectives and matters to be considered
5. Declarations of Interest: Recording of any declarations of interest by committee members
6. Confirmation of Independence: Confirmation of committee members' independence as required by Section 94 of Companies Act
7. Resolutions: Detailed recording of decisions made, including voting results if applicable
8. Closure: Time of meeting conclusion and signature provisions
1. Previous Minutes: Confirmation of previous meeting minutes - include when this is a regular meeting following a previous one
2. External Auditor Matters: Specific resolutions regarding external auditor appointment, fees, or independence - include when dealing with auditor-related decisions
3. Risk Management Review: Decisions regarding risk management matters - include when risk oversight items were discussed
4. Special Matters: Any non-standard items requiring committee attention - include when dealing with unusual or one-off matters
5. Management Representations: Recording of any representations made by management - include when management presentations were part of meeting
6. Committee Composition Changes: Resolutions regarding changes to committee membership - include when dealing with membership changes
1. Attendance Register: Detailed register of all attendees including invitees and management representatives
2. Supporting Documents: List of key documents considered in making resolutions
3. Committee Charter Extract: Relevant extracts from committee charter supporting the decisions made
4. Voting Results: Detailed voting records if any matters required formal voting
5. Technical Reports: Any technical or specialist reports considered by the committee in making its decisions
Relevant legal definitions
Act
Audit Committee
Board
Committee
Company
Company Secretary
External Auditor
Financial Year
Independent Director
Internal Audit Function
JSE Listings Requirements
King IV Report
Meeting
Members
Non-executive Director
Quorum
Resolution
Risk Management Framework
Terms of Reference
Material Matter
Related Party
Statutory Requirements
Financial Statements
Internal Controls
Regulatory Authority
Audit Committee
Board
Committee
Company
Company Secretary
External Auditor
Financial Year
Independent Director
Internal Audit Function
JSE Listings Requirements
King IV Report
Meeting
Members
Non-executive Director
Quorum
Resolution
Risk Management Framework
Terms of Reference
Material Matter
Related Party
Statutory Requirements
Financial Statements
Internal Controls
Regulatory Authority
Clauses
Constitution of Meeting
Quorum
Notice
Attendance
Independence Declaration
Previous Minutes
Financial Reporting
External Audit Matters
Internal Audit Matters
Risk Management
Internal Controls
Compliance
Related Party Transactions
Governance Matters
Committee Composition
Resource Allocation
Regulatory Reporting
Information Systems
Ethics and Fraud
Conflict of Interest
Recommendations to Board
Authority Delegation
Meeting Conclusion
Signature and Approval
Quorum
Notice
Attendance
Independence Declaration
Previous Minutes
Financial Reporting
External Audit Matters
Internal Audit Matters
Risk Management
Internal Controls
Compliance
Related Party Transactions
Governance Matters
Committee Composition
Resource Allocation
Regulatory Reporting
Information Systems
Ethics and Fraud
Conflict of Interest
Recommendations to Board
Authority Delegation
Meeting Conclusion
Signature and Approval
Relevant Industries
Financial Services
Mining
Manufacturing
Retail
Technology
Healthcare
Energy
Telecommunications
Public Sector
Professional Services
Real Estate
Transportation and Logistics
Relevant Teams
Legal
Finance
Internal Audit
Risk Management
Compliance
Corporate Secretariat
Board Office
External Audit
Corporate Governance
Relevant Roles
Chief Executive Officer
Chief Financial Officer
Company Secretary
External Auditor
Internal Audit Director
Risk Management Officer
Compliance Officer
Board Chairman
Non-Executive Director
Audit Committee Chairman
Financial Controller
Legal Counsel
Corporate Governance Officer
Find the exact document you need
Resolution To Open Bank Account
A South African corporate resolution authorizing the opening and operation of a bank account, designating signatories and banking powers.
find out more
Authorised Signatory Resolution
A South African corporate resolution document that officially appoints and defines the powers of authorized signatories for a company.
find out more
Board Resolution For Increase In Salary Of Director
A South African board resolution document that formally approves and records a director's salary increase in compliance with local company law.
find out more
Board Resolution For Tender Participation
A South African corporate governance document authorizing company participation in tender processes and delegating related powers to specified individuals.
find out more
Board Resolution For Giving Loan To Other Company
A formal board resolution under South African law authorizing an inter-company loan, including loan terms and statutory compliance confirmations.
find out more
Board Resolution For Appointment Of Director In Private Company
A South African law-compliant board resolution document that formally records the appointment of a new director to a private company's board.
find out more
Board Resolution For Applying Loan From Bank
A South African corporate resolution authorizing the company to apply for and obtain a bank loan, including specific approvals and authorizations required under local law.
find out more
Board Resolution For Forfeiture Of Shares
A South African board resolution document authorizing the forfeiture of shares from a defaulting shareholder, in compliance with the Companies Act 71 of 2008.
find out more
Board Resolution For Dormant Company
A South African board resolution document confirming and recording a company's dormant status under the Companies Act.
find out more
Special Resolution For Taking Loan
A South African company document recording shareholders' special resolution to approve and authorize a significant loan transaction, required under the Companies Act 71 of 2008.
find out more
Resolution For Appointment Of New Trustee
A South African legal document recording the formal appointment of a new trustee to an existing trust, requiring Master of High Court approval.
find out more
Board Resolution For Subscription Of Shares
A South African board resolution document authorizing and approving the issuance of new shares to specified subscribers.
find out more
Special Resolution Of Directors
A formal South African corporate document recording major board decisions requiring special resolution status under the Companies Act 71 of 2008.
find out more
Board Resolution For Funding
A South African corporate document recording board approval for company funding arrangements, compliant with the Companies Act and corporate governance requirements.
find out more
Board Resolution For Change In Shareholding Pattern
A South African board resolution document that formally approves and records changes in company shareholding structure, compliant with Companies Act requirements.
find out more
Board Resolution For Appointment Of Legal Representative
A South African corporate document recording the board's formal resolution to appoint a legal representative with specified powers to act on behalf of the company.
find out more
Board Resolution Change Of Directors
A South African board resolution documenting changes in company directorship, compliant with Companies Act 71 of 2008 and CIPC requirements.
find out more
Board Resolution Change Of Address
A South African board resolution document that formally approves and records a change in a company's registered address, complying with Companies Act requirements.
find out more
Directors Resolution For Dividends
A South African corporate resolution documenting the board's decision to declare dividends, including payment details and statutory compliance confirmations.
find out more
Change Of Directors Resolution
A South African corporate resolution document that formally records and implements changes to a company's board of directors, in compliance with the Companies Act.
find out more
Board Resolution For Private Limited Company
A formal document under South African law recording decisions made by a private company's board of directors during an official board meeting.
find out more
Board Resolution For Joint Venture
A formal board resolution under South African law documenting the board's approval and authorization of a joint venture arrangement, including key terms and delegated authorities.
find out more
Board Resolution For Declaration Of Dividend
A South African corporate resolution documenting the board's decision to declare and pay dividends to shareholders, ensuring compliance with Companies Act requirements.
find out more
Board Resolution For Closure Of Business
A South African corporate resolution document recording the board's formal decision to close business operations, including implementation plans and compliance requirements.
find out more
Appointment Of Auditor Resolution
A South African corporate resolution document that formally appoints an external auditor in compliance with the Companies Act and relevant regulations.
find out more
Resolution To Appoint A Director
A formal corporate resolution under South African law documenting the appointment of a new director to a company's board of directors.
find out more
Board Resolution For Sale Of Company
A South African corporate resolution documenting board approval and authorization for the sale of a company, in compliance with the Companies Act 71 of 2008.
find out more
Board Resolution For Partnership
A South African corporate governance document recording board decisions and authorizations regarding partnership arrangements, compliant with local company law.
find out more
Board Resolution For Issue Of Shares
A South African corporate document recording the board's formal decision to issue new shares, complying with Companies Act 71 of 2008 requirements.
find out more
Board Resolution For Dissolution Of Committee
A South African corporate resolution documenting the board's decision to dissolve a committee, in compliance with the Companies Act and corporate governance requirements.
find out more
Board Resolution For Buy Back Of Shares
A South African board resolution authorizing a company's repurchase of its own shares, complying with Companies Act requirements and corporate governance standards.
find out more
Board Resolution For Approval Of Annual Budget
A South African board resolution document for formal approval of a company's annual budget, compliant with local corporate law and governance requirements.
find out more
Board Resolution For Appointment Of Compliance Officer
A South African board resolution document formalizing the appointment of a Compliance Officer and defining their role and responsibilities.
find out more
Board Resolution For Acquisition Of Shares
A South African corporate document recording the board's formal authorization for a share acquisition, compliant with the Companies Act 71 of 2008.
find out more
Board Resolution Approving Sale Of Shares
A South African corporate document recording board approval for the transfer of company shares, compliant with Companies Act 71 of 2008.
find out more
Board Resolution Appointing Corporate Secretary
A South African board resolution document formalizing the appointment of a Company Secretary in accordance with the Companies Act 71 of 2008.
find out more
Allotment Of Shares Board Resolution
A formal board resolution under South African law documenting the approval and terms of new share issuance to specified recipients.
find out more
Unanimous Resolution Of The Board
A South African board resolution document recording unanimous decisions made by all company directors under the Companies Act 71 of 2008.
find out more
Resolution To Open Bank Account For Association
A South African legal document authorizing the opening and operation of a bank account for an association, specifying account parameters and authorized signatories.
find out more
Resolution Appointing New Board Members
A South African corporate resolution document recording the formal appointment of new directors to a company's board, in compliance with the Companies Act 71 of 2008.
find out more
Genie’s Security Promise
Genie is the safest place to draft. Here’s how we prioritise your privacy and security.
Your documents are private:
We do not train on your data; Genie’s AI improves independently
All data stored on Genie is private to your organisation
Your documents are protected:
Your documents are protected by ultra-secure 256-bit encryption
We are ISO27001 certified, so your data is secure
Organizational security:
You retain IP ownership of your documents and their information
You have full control over your data and who gets to see it
.png)
.png)