2012 Integrated report - Sappi

Directors’ approval
The directors are responsible for the maintenance of adequate
accounting records and the content, integrity and fair presentation
of the group annual financial statements and the related financial
information included in this report. These have been prepared in
accordance with International Financial Reporting Standards as
issued by the International Accounting Standards Board, the JSE
Limited Listings Requirements and the requirements of the
Companies Act of South Africa. In preparing the group annual
financial statements, the group applied appropriate accounting
policies supported by reasonable judgements and estimates.
The auditors are responsible for auditing the group annual financial
statements in the course of executing their statutory duties.
The directors acknowledge that they are ultimately responsible for
the system of internal financial control established by the group and
are committed to maintaining a strong control environment. Details
relating to the group’s internal control environment, including the
requirement to comply with section 404 of the U.S. Sarbanes-Oxley
Act (a requirement for companies listed on the New York Stock
Exchange), are set out in the corporate governance section of
this report.
The directors are of the opinion, based on the information and
explanations given by the company’s officers and the internal
auditors, that the system of internal control provides reasonable
assurance that the financial records may be relied on for the
preparation of the group annual financial statements. However,
any system of internal financial control can provide only reasonable,
and not absolute assurance against material misstatement or loss.
The directors have reviewed the group’s budget and cash flow
forecasts. This review, together with the group’s financial position,
existing borrowing facilities and cash on hand, has satisfied
the directors that the group will continue as a going concern
for the foreseeable future. Therefore the group continues to
adopt the going concern basis in preparing its group annual
financial statements.
The directors’ report and group annual financial statements appear
on pages 101 to 181 and were approved by the board of directors
on 10 December 2012 and signed on its behalf by:
R J Boëttger
Chief executive officer
Sappi Limited
S R Binnie
Chief financial officer
Secretary’s certificate
In terms of section 88(2)(e) of the Companies Act 71 of 2008 (as amended) of South Africa, I hereby certify that, to the best of my knowledge
and belief, the company has lodged with the Companies and Intellectual Property Commission of South Africa, for the financial year ended
September 2012, all such returns as are required of a public company in terms of this Act and that such returns appear to be true, correct
and up to date.
Sappi Southern Africa (Pty) Limited
Secretaries
per D J O’Connor
Group secretary
10 December 2012
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