14. FINANCIAL REPORT The Commission Financial Statements for 2016 1. Background Information In line with the desire to implement effective internal control systems, the Commission has a Sub-Committee responsible for Budget, Finance, and Audit and Risk aspect of the entity. This has been set in line with Section 50 of the Public Finance Management Act (Chapter 22:19). The Committee’s reports have been formally adopted by the Commission during the year under review. The Committee is guided by the following summarized terms of reference: • Review the Commission’s Annual Budget to ensure representativeness, sufficiency MEMBER 48 and completeness • Monitor budget implementation and approve review modifications • Review Internal Control Systems, including related policies of the Commission annually to address any creeping Control Risks • Follow-up implementation of Audit recommendations • Appraise the full Commission on Commission’s Financial Matters • Asset Management and review of attendant policies Over the past year, the Committee has satisfactorily carried out its duties and the following table summarises the meetings and attendance by various committee members: DESIGNATION 2016 TOTAL MEETINGS MEETINGS ATTENDED E. H MUGWADI Committee Chair 3 2 E. SITHOLE Committee Deputy Chair 3 3 S. MATINDIKE Committee Member 3 3 J. N NCUBE Committee Member 3 3 E. V MUKUTIRI Acting Executive Secretary (Ex. Officio) 3 3 H. GADZAI Secretariat in Attendance 3 3 A. MUPUWI Finance Director in Attendance 3 3 C. TANYANYIWA Secretariat (Minute-taker) 3 2 Protecting, Promoting and Enforcing Human Rights and Fundamental Freedoms