Read the full Annual Report in PDF format - CSIR

CSIR leadership team
The CSIR management is responsible
for strategy implementation and
managing the day-to-day affairs of
the CSIR and its operating units in
accordance with the policies and
objectives approved by the CSIR
Board. This leadership team comprises
the members of the CSIR Executive
Management Committee and
operating unit executive directors and
centre managers.
Other internal structures that contribute
to governance at the CSIR include the
Executive, Operations and Service
Committees, the Strategic Research
and Contract Research & Development
Forums, and the Research Advisory
Panels.
Board of Directors and
Group companies
The CSIR Executive appoints the
boards of the various subsidiary
companies.
Board and Executive
Management remuneration
Details of the CSIR Board are set out
on pages 98 to 100 of the Corporate
Governance Report. The membership
and Terms of Reference of each Board
committee are further described on
pages 102 to 103.
Remuneration of Board members and
the Executive Management is set out
in Note 19 of the Annual Financial
Statements.
Remuneration of Executive
Management is in accordance with
the remuneration policy which has
been approved by the CSIR Board.
General
The CSIR acknowledges that systems
of corporate governance should be
reviewed continuously to ensure that
these are sound and consistent with
world-class standards relevant to the
operations of the Group and the
evolution thereof.
We shall continue to comply with all
major recommendations of the Code
of Corporate Practices and Conduct
as set out in the King Report on
Corporate Governance.
Public Finance
Management Act (PFMA)
The PFMA came into effect on 1 April
2000 and has had an impact on
governance matters in terms of the
regulation of financial management in
the public sector. The Group complies,
in all material aspects, with the Act.
Materiality framework
The materiality framework for
reporting losses through criminal
conduct and irregular, fruitless and
wasteful expenditure, as well as for
significant transactions envisaged per
section 54(2) of the PFMA, has been
finalised and incorporated into the
Shareholder’s Compact. No material
losses through criminal conduct
and irregular, fruitless and wasteful
expenditure were identified as having
been incurred during the year.
101 CORPORATE GOVERNANCE