Download PDF - Kumba Iron Ore

INTEGRATED REPORTING
THE INTEGRATED
REPORTING JOURNEY
Approach and overview
APPROACH
Kumba recognises that the group has a responsibility to engage with
and report to a broad range of stakeholders, including shareholders,
employees, customers, communities, suppliers and the public at
large. In Kumba’s Integrated Report 2011, the group presents a
holistic ‘picture’ of the business, covering its operating context and
markets, the opportunities and challenges it faces, its strategy, its
operational, financial and non-financial performance for the year, and
its objectives and outlook for the year ahead. Issues and concerns
raised by stakeholders actively inform opportunities and challenges
within the business.
In developing the Integrated Report 2011, Kumba has applied the
recommendations of the King Code of Governance Principles for
South Africa 2009 (King III), the Integrated Report Discussion
Paper published by the Integrated Reporting Committee of
South Africa, as well as the discussion paper, Towards Integrated
Reporting: Communicating Value in the 21st Century, published by the
International Integrated Reporting Committee.
This report, the Annual Financial Statements 2011, forms part of a
suite of reports produced by the group. It comprises:
annual general meeting, which has been posted to all shareholders;
the economic, social and environmental impacts of the group’s
business in greater detail;
report which focuses on the issues that are important to
employees; and
(with downloadable pdfs) on an interactive web platform at
http://www.angloamericankumba.com/reports/kumba_ar2011/
index.php.
ABOUT THIS REPORT:
SCOPE AND BOUNDARY
This report presents the group’s annual financial statement for
the year ended 31 December 2011. It forms part of a suite of
reports that gives an overall account of the group’s operational,
financial, economic, social and environmental performance, as
well as governance, during the period under review. Historical
information is supplied for context where appropriate. Also
supplied is an outlook where these support an understanding of
the strategy of the business.
The annual financial statements have been prepared in
compliance with International Financial Reporting Standards
and the International Financial Reporting Interpretation
Committee’s interpretations of those standards; the South
African Companies Act No 71 of 2008 as amended (The
Companies Act); the Listings Requirements of the JSE Limited;
and the AC500 standards as issued by the Accounting
Practices Board. The annual financial statements have been
audited by Deloitte & Touche. An unmodified audit opinion
was issued and is included on page 12 of the Annual
Financial Statements.
Printed copies of these reports are available on request.
Stakeholders are encouraged to provide feedback on Kumba’s
reports and its reporting. Your feedback and suggestions will
be taken into consideration as the group continues its journey.
A feedback form is available at http://www.angloamericankumba.com/
reports/kumba_ar2011/sustainability/feedback_form.php.
Annual Financial Statements 2011
1