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CSIR ANNUAL REPORT 2010/11 Strategic Review Committee meetings 07/10/10 24/03/11 Petersen Present Present Behrens Present Apology Wingfield Present Present Sibisi Present Present Knott-Craig Present Present Benadè Present Sibanda Present Strategic Review Committee meeting held on 7 October 2010 – all Board members were invited to attend. Strategic Review Committee meeting held on 24 March 2011 – Sibanda and Knott-Craig attended by invitation. 104
Report of the Audit and Risk Committee Year ended on 31 March 2011 Report of the Audit and Risk Committee as required by Treasury Regulations 27.1.7 and 27.1.10 and S(51) (1)(a) (ii) of the Public Finance Management Act (No 1 of 1999), as amended by Act 29 of 1999. The committee is pleased to present its report for the fi nancial year ended 31 March 2011. Committee members and attendance The committee consists of the members as stated on page 102 of this report. In accordance with its approved Terms of Reference, the committee met twice during the year under review (i.e. 29 June 2010 and 10 February 2011). Schedule of attendance is shown on page 103 of this report. The committee’s responsibility The committee has adopted formal Terms of Reference in its charter in line with the requirements of S(51) (1) (a) of the PFMA and Treasury Regulations 27.1.7 and 27.1.10 and has discharged all of its responsibilities for the year, in compliance with the charter. The effectiveness of internal control Through the review of the internal audit activity, the committee is satisfi ed that an adequate system of internal control is in place to mitigate risks to an acceptable level. These controls have been effective during the period under review. The system is designed to manage, rather than eliminate, the risk of failure and to maximise opportunities to achieve business objectives. This can provide only reasonable but not absolute assurance. Internal audit The committee has evaluated the internal control environment and based on the information provided has assessed the internal controls as effective to mitigate related risks. Risk management The committee is satisfi ed that the CSIR has an ongoing risk management process, focused on identifying, assessing, managing and monitoring all known forms of signifi cant risks across all operations and Group companies. This has been in place for the year under review and up to the date of approval of the Annual Financial Statements. Evaluation of financial statements The committee has evaluated the Annual Financial Statements of the CSIR Group for the year ended 31 March 2011, and based on the information provided to the Audit and Risk Committee considers that it complies, in all material respects with the requirements of the various Acts governing disclosure and reporting on the Annual Financial Statements. The committee therefore recommends the adoption of the Annual Financial Statements and the associated reports by the CSIR Board. Phillip Benadè Chairperson of the Audit and Risk Committee Date: 30 June 2011 105 CORPORATE GOVERNANCE
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ANNUAL REPORT 2010/11
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5AUDIT REPORT 106 Report of the Aud
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contribution to the pursuit of scie
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engagement with all its stakeholder
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focuses on establishing new develop
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Nanotechnology, specifi cally nanos
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Infrastructure and associated opera
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uilt environment Getting to grips I
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uilt environment The Port of Doha,
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uilt environment Locally, the South
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The changing security environment p
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defence & security placed close tog
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defence & security recalled per tar
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defence & security communication an
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The demand for energy in South Afri
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energy required by the heliostat to
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For many South Africans, limited ac
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health group has hosted and trained
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health these devices now enables re
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The importance of manufacturing in
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industry advanced manufacturing can
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industry advanced manufacturing CSI
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industry advanced manufacturing tra
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industry advanced manufacturing tec
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industry advanced manufacturing One
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With its 495 000 workers and R162 b
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industry mining elimination of sili
Page 55 and 56: The natural environment is both an
Page 57 and 58: natural environment • South Afric
Page 59 and 60: natural environment is strongly rec
Page 61 and 62: natural environment Oceanography; B
Page 63 and 64: The CSIR’s work in information an
Page 65 and 66: ict The research has been documente
Page 67 and 68: ict The VOs are encouraged through
Page 69 and 70: ict allow engineers to make adjustm
Page 71 and 72: ict development and implementation
Page 73 and 74: Currently, marine research vessels
Page 75 and 76: ict their long-term athlete develop
Page 77 and 78: Publication equivalents allocated t
Page 79 and 80: Archibald S, Scholes RJ, Roy DP, Ro
Page 81 and 82: De Lange WJ, Wise RM, Forsyth GG, N
Page 83 and 84: Kumar R, Yakubu MK, Anandjiwala RD.
Page 85 and 86: 405(12), p.2659-2663. Mishra SB, Mi
Page 87 and 88: Phasha MJ, Ngoepe PE, Chauke HR, Pe
Page 89 and 90: Van den Bergh F, Engelbrecht AP. 20
Page 91 and 92: J John MJ, Thomas S. 2010. Cellulos
Page 93 and 94: Wright C. 2010. Children’s sight
Page 95 and 96: CORPORATE GOVERNANCE 93
Page 97 and 98: are fairly presented in conformity
Page 99 and 100: CSIR. All subsidiary companies are
Page 101 and 102: CSIR Board Members (1 April 2010 -
Page 103 and 104: CSIR leadership team The CSIR manag
Page 105: Meetings 7 October 2010 24 March 20
Page 109 and 110: the fi nancial position of the Coun
Page 111 and 112: Role in the National System of Inno
Page 113 and 114: to accessing each other’s researc
Page 115 and 116: Table 2: Building and transforming
Page 117 and 118: The CSIR achieved outstanding perfo
Page 119 and 120: Significant progress was made in 20
Page 121 and 122: B Five-year review of income and ex
Page 123 and 124: 121 EXECUTIVE REPORT
Page 125 and 126: ANNUAL FINANCIAL STATEMENTS 123
Page 127 and 128: Statements of financial position as
Page 129 and 130: Statements of cash flows for the ye
Page 131 and 132: 1 PRINCIPAL ACCOUNTING POLICIES (co
Page 133 and 134: 1PRINCIPAL ACCOUNTING POLICIES (con
Page 141 and 142: 3OPERATING PROFIT GROUP The net ope
Page 143 and 144: 6PROPERTY, PLANT AND EQUIPMENT 2011
Page 145 and 146: 6PROPERTY, PLANT AND EQUIPMENT (con
Page 147 and 148: 8INTEREST IN JOINT VENTURES AND ASS
Page 149 and 150: 13 DEFERRED TAx ASSET GROUP Balance
Page 151 and 152: 18 RETIREMENT BENEFITS OF EMPLOYEES
Page 153 and 154: 19 REMUNERATION OF BOARD MEMBERS, D
Page 155 and 156: 20 CONTINGENT LIABILITIES AND FACIL
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22 FINANCIAL INSTRUMENTS (continued
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23 RECONCILIATION OF OPERATING PROF
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25 RELATED PARTY TRANSACTIONS (cont
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26 SUBSEQUENT EVENTS 26.1 Satellite
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Interests of the CSIR Net indebtnes
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169 2010 FIFA SOCCER WORLD CUP
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ACCESS Applied Centre for Climate a
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Printed on Hi-Q Titan Plus environm
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