Corporate Responsibility » Corporate Governance » Audit and Risk Committee Report
We are pleased to present our report to shareholders for the financial year ended 30 June 2011. The Audit and Risk Committee (“the Audit Committee”) is an independent statutory committee appointed by the Board of directors, who delegates duties and responsibilities to the Audit Committee. During the reporting period, the Audit Committee made changes to certain of its governance policies in order to comply with the principles stipulated by the King Code of Governance Principles (“King III”). The Audit Committee’s terms of reference is formalised in a charter approved by the Board of directors. During the period under review, the Audit Committee conducted its affairs in accordance with the charter, and has discharged its responsibilities as required by the charter, the Companies Act 71 of 2008 (as amended) (“the Companies Act”), and the substantial requirements of King III. Instances where King III requirements have not been applied are explained in this report.
The report is available below in Adobe Acrobat format:
Audit and Risk Committe Report (.pdf) [72 KB]