housing - National Housing Finance Corporation

More documents

Recommendations

Info

CORPORATE GOVERNANCE CONTINUED internal audit plan and ensures timely follow-up of reported audit findings. The ARC Manager also gives assurance to the A&R Committee that risk management and compliance processes are effectively implemented. Key internal controls in the Corporation are adequate and effective to provide reasonable assurance that: u assets are safeguarded against loss from unauthorised use or disposition; u transactions are entered into in line with Management’s authority derived from the delegated authorities and approved policies and procedures; and u transactions are recorded properly to allow for the preparation of financial statements in accordance with IFRS. REGULATORY AND STATUTORY COMPLIANCE Section 51(1)(h) of the Public Finance Management Act requires the Board to ensure that the Corporation complies with all applicable legislation. The Corporation has a Compliance Officer who is independent of the operational activities and whose responsibility is to ensure that the Corporation continuously manages its regulatory risk, through compliance with applicable laws and regulations. During the year under review, the Compliance Officer finalised the Compliance Programme and updated the Regulatory Universe, which is a comprehensive listing and summary of all laws and regulations applicable to the Corporation. 20 NHFC ANNUAL REPORT 2006
The internal audit function is an outsourced independent appraisal function which provides independent assurance, through the A&R Committee, to the Board on the effectiveness of the Corporation’s internal control system. NHFC ANNUAL REPORT 2006 21
Page 1 and 2: A N N U A L R E P O R T 2 0 0 6 u O
Page 4 and 5: A TRIBUTE TO OUR CHAIRMAN IN MEMORY
Page 6 and 7: KEY FINANCIAL FEATURES 2006 % 2005
Page 8 and 9: HIGHLIGHTS NHFC - TEN YEARS ON NHFC
Page 10 and 11: BOARD OF DIRECTORS Mr Tim Middleton
Page 12 and 13: “EVERY TIME YOU ARE TEMPTED TO RE
Page 14 and 15: CHIEF EXECUTIVE’S REPORT CONTINUE
Page 16 and 17: CHIEF EXECUTIVE’S REPORT CONTINUE
Page 18 and 19: CORPORATE GOVERNANCE INTRODUCTION C
Page 20 and 21: CORPORATE GOVERNANCE CONTINUED Boar
Page 22 and 23: CORPORATE GOVERNANCE CONTINUED MCC
Page 26 and 27: ANNUAL FINANCIAL STATEMENTS FOR THE
Page 28 and 29: REPORT OF THE INDEPENDENT AUDITORS
Page 30 and 31: REPORT OF THE DIRECTORS The Directo
Page 32 and 33: BALANCE SHEETS AS AT 31 MARCH 2006
Page 34 and 35: STATEMENT OF CHANGES IN EQUITY FOR
Page 36 and 37: GROUP ACCOUNTING POLICIES 1. CORPOR
Page 38 and 39: GROUP ACCOUNTING POLICIES CONTINUED
Page 44 and 45: NOTES TO THE ANNUAL FINANCIAL STATE
Page 72: ADMINISTRATION REGISTRATION NUMBER

housing - National Housing Finance Corporation

You also want an ePaper? Increase the reach of your titles

Delete template?

Save as template?