The board has delegated, through formal terms of reference, specific matters to a number of committees whose members and chairman are appointed by the board. There is full disclosure of matters handled by the committees to the board.
The committees play an important role in enhancing high standards of governance and achieving increased effectiveness within the group.
The board has an Audit Committee, a Risk and Safety, Health and Environment Committee, Remuneration and Nomination Committee and a Transformation, Social and Ethics Committee.
The role and responsibilities of the committee include statutory duties as per the Companies Act, and further responsibilities assigned to it by the board. The committee executed its duties in terms of the requirements of King III. The key responsibilities of the committee are as follows:
Monitoring the performance and effectiveness of the independent external auditors and evaluating the
Ensuring that the combined assurance model introduced by the King III Code is applied to provide a coordinated approach to assurance activities.
3 meetings per annum
As at 6 December 2018, the Risk and SHE Committee changed its name to become Risk Committee
The responsibilities of the committee are set out in written terms of reference. These terms of reference and the company’s risk appetite statement were adopted by the board. The Risk and SHE* Committee’s key responsibilities are:
3 meetings per annum
The role and responsibilities of the committee include statutory duties as per the Companies Act, and further responsibilities assigned to it by the board. The committee executed its duties in terms of the requirements of King III. The key responsibilities of the committee are as follows:
Monitoring the performance and effectiveness of the independent external auditors and evaluating the
Ensuring that the combined assurance model introduced by the King III Code is applied to provide a coordinated approach to assurance activities.
3 meetings per annum
As at 28 February 2019, the TSEC committee changed its name to become Social, Ethics and Sustainability Committee.
The responsibilities of the committee are set out in written terms of reference, which are reviewed periodically.
The Transformation, Social and Ethics Committee’s key responsibilities are:
Review policies and statements on ethical standards and on whistle-blowing
Oversee and monitor the implementation of safety, health and environment policies, strategies, targets, plans and systems and review the safety, health and environment risk profile
2 meetings per annum