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Board composition, structure and report back
continued
Audit, Risk and Compliance
Members and attendees
Number of meetings
JS Mthimunye (C)
GD Harlow
P Mahanyele
SJ Vilakazi
EC de Villiers*
BM Levy*
MS Levy*
DA Suntup*
4
Member attendance
93%
(C)
Chairman.
*
Attendee.
Key objective and terms of reference (TOR)
Provides governance over internal controls, compliance, performance of internal and external audit, appropriateness of
accounting and adequacy of external reporting.
The Audit, Risk and Compliance Committee concluded that it has fulfilled its responsibilities in accordance with its terms
of reference.
2017 Focus areas and activities
f
examining and reviewing the Group’s financial statements and reporting of interim and final results;
f
reviewing and considering, for recommendation to the Board, the consolidated budget for the ensuing financial year;
f
overseeing integrated reporting;
f
overseeing the Internal Risk and Compliance Committee function;
f
monitoring the risk management framework and assessing the risks that impact on the Group’s ability to achieve
its strategic objectives;
f
reviewing and satisfying itself of the expertise, resources and experience of the Blue Label finance function;
f
overseeing the internal audit function and internal financial control process;
f
recommending the appointment of the external auditor and overseeing the external audit process, including their
audit fee, independence and nature and extent of any non-audit services; and
f
monitoring compliance activities.
Refer to governance of risk, technology and information governance, combined assurance and to the Audit, Risk and
Compliance Committee report for further details.
2018 Focus areas
f
Successful integration, accounting treatment of acquisitions, establish compliance framework for the Group with specific
focus on foreign operations.
f
Assessing the impact of IFRS 16.
f
Continued focus on King IV transition.
BLUE LABEL
INTEGRATED ANNUAL REPORT 2017
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