Principle Internal Audit should follow Do not See 7.1 above. 7.2 a risk based approach to its comply plan. Principle Internal Audit should provide Do not See 7.1 above. 7.3 a written assessment of the comply effectiveness of the system of company’s internal controls and risk management. Principle The audit committee should Do not See 7.1 above. 7.4 be responsible for comply overseeing the internal audit process. Principle Internal audit should be Do not See 7.1 above. 7.5 strategically positioned to comply achieve its objectives. CHAPTER 8 - GOVERNING STAKEHOLDER RELATIONSHIPS Principle The Board should Comply The Company engages with its stakeholders 8.1 appreciate that on multiple levels and this allows the stakeholder’ perceptions affect a Company to manage issues effectively and reputation. timeously and reduces the likelihood of company’s reputational risks. Principle The Board should delegate Comply Management is responsible for maintaining 8.2 to management the authority stakeholder relationships. to proactively deal with stakeholder relationships. Principle The Board should strive to Comply The appropriate balance is assessed on a 8.3 achieve the appropriate continuous basis. balance between its various stakeholder groupings, in the best interests of the Company. Principle Companies should ensure Comply The Company will act in accordance with the 8.4 the equitable treatment of requirements of the Companies Act and the shareholders. JSE Listings Requirements regarding the treatment of shareholders. Principle Transparent and effective Comply The Board is committed to a communication 8.5 communication with policy to ensure that timely, relevant, accurate stakeholders is essential for and honest information is provided to all building and maintaining stakeholders. their trust and confidence. Principle The Board should ensure Comply The board ensures that disputes are resolved 8.6 that disputes are resolved effectively as is possible. effectively and as expeditiously as possible. CHAPTER 9 INTEGRATED REPORTING AND DISCLOSURE – Principle The Board should ensure Comply The Board is responsible for the integrity of 9.1 the integrity of the the integrated report. integrated Company’s report. Principle Sustainability reporting and Comply The Board subscribes to reporting to 9.2 disclosure should be stakeholders on the sustainability of the integrated with the Group and a report is produced on an annual financial basis. Company’s reporting. Principle Sustainability reporting and Do not At present the Company does not obtain 9.3 disclosure should be comply independent assurance. This will be independently assured. considered in future.
Principle 7.2 Internal Audit should follow a risk based approach to its plan. Do not comply See 7.1 above. Principle 7.3 Internal Audit should provide a written assessment of the effectiveness of the company’s system of internal controls and risk management. Do not comply See 7.1 above. Principle 7.4 The audit committee should be responsible for overseeing the internal audit process. Do not comply See 7.1 above. Principle 7.5 Internal audit should be strategically positioned to achieve its objectives. Do not comply See 7.1 above. CHAPTER 8 - GOVERNING STAKEHOLDER RELATIONSHIPS Principle 8.1 The Board should appreciate that stakeholder’ perceptions affect a company’s reputation. Comply The Company engages with its stakeholders on multiple levels and this allows the Company to manage issues effectively and timeously and reduces the likelihood of reputational risks. Principle 8.2 The Board should delegate to management the authority to proactively deal with stakeholder relationships. Comply Management is responsible for maintaining stakeholder relationships. Principle 8.3 The Board should strive to achieve the appropriate balance between its various stakeholder groupings, in the best interests of the Company. Comply The appropriate balance is assessed on a continuous basis. Principle 8.4 Companies should ensure the equitable treatment of shareholders. Comply The Company will act in accordance with the requirements of the Companies Act and the JSE Listings Requirements regarding the treatment of shareholders. Principle 8.5 Transparent and effective communication with stakeholders is essential for building and maintaining their trust and confidence. Comply The Board is committed to a communication policy to ensure that timely, relevant, accurate and honest information is provided to all stakeholders. Principle 8.6 The Board should ensure that disputes are resolved effectively and as expeditiously as possible. Comply The board ensures that disputes are resolved effectively as is possible. CHAPTER 9 – INTEGRATED REPORTING AND DISCLOSURE Principle 9.1 The Board should ensure the integrity of the Company’s integrated report. Comply The Board is responsible for the integrity of the integrated report. Principle 9.2 Sustainability reporting and disclosure should be integrated with the Company’s financial reporting. Comply The Board subscribes to reporting to stakeholders on the sustainability of the Group and a report is produced on an annual basis. Principle 9.3 Sustainability reporting and disclosure should be independently assured. Do not comply At present the Company does not obtain independent assurance. This will be considered in future.