content_image/449808.jpg
The table below shows the dates on which the reconciliations were done. 

<img src='content_image/449808.jpg'>

In response management indicated that entries would be downloaded, printed and captured every Friday so that on the 2 nd  of the following month when the bank statement is available then only the final entries would be captured and reconciliations done. The reconciliations would be submitted for review by the financial accountant and signed accordingly. 

## 3.2 Former CEO Included as a Bank Signatory as at Year End 

The auditors noted that the former Chief Executive Officer was still included as a signatory to the FNB and Stanbic Bank accounts even though he had left the Authority in November 2017. 

In response management stated that as per the Financial Policies and Procedures Manual the amendment of bank signatories is approved by the Board. The request to remove the former CEO was submitted to the Board on 29 March 2018. Management however acknowledged the lengthy process and revealed that they had engaged the banks and would approach the Board with a view to securing a standard resolution for appointment and removal of bank signatories. 

