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CSIR ANNUAL REPORT 2010/11 reporting, communication and reaction to fraud. Environmental management, occupational and health and safety The CSIR is committed to the promotion of environmental, health and safety principles and practices to create a safe and healthy environment for all and to meet the requirements of all relevant environment and health and safety legislation as a minimum standard. This commitment is depicted in two ways: in the manner it serves business as a supplier of environmental managementrelated products, and in the way it demonstrates sound environmental practices at all CSIR sites. Operating risk management The CSIR endeavours to minimise operating risk by ensuring that the appropriate infrastructure, controls, systems and people are in place throughout the Group. Key practices employed in managing operating risk include segregation of duties; transaction approval frameworks; financial and management reporting; and monitoring of metrics, which are designed to highlight positive or negative performance across a broad range of key results areas (KRAs). The Operations Committee, which comprises members of the executive, operating unit and centre executive directors and group managers, oversees operational matters. Financial risk management Financial risks are managed within predetermined procedures and constraints as identified and detailed in the various policies and the setting of annual goals and objectives. Controls are designed to give assurance that assets are safeguarded and that liabilities and working capital are managed effectively. Organisational policies, procedures, structures and an approval framework provide for segregation of duties and contain self-monitoring mechanisms. Compliance is measured through regular reporting against the business goals, internal audit checks and external audit verification. The requisite skills and qualifications are in place for the management of the finance function. Going concern The CSIR Board has reviewed the Group’s financial budgets for the period 1 April 2011 to 31 March 2012 and is satisfied that adequate resources exist to continue as a going concern for the foreseeable future. The CSIR Board confirms that it has assessed key sustainability risks and there is no reason to believe the business will not be a going concern in the year ahead. The income streams of the CSIR are detailed in the notes to the financial statements. Internal control The CSIR Board has ultimate responsibility for the system of internal controls. The key controls required to mitigate risk and ensure the integrity and reliability of financial statements have been identified in conjunction with the internal and external auditors. Close cooperation between the internal and external auditors ensures adequate and efficient audit reviews of the proper functioning of these key controls. The annual audit plan is based on the key risks to the organisation and the results of the risk management process. The work programme that gives effect to the plan is reviewed by the Audit and Risk Committee and approved or modified as required. Internal financial controls have been assessed as effective to mitigate related risks. Approval framework and policies The CSIR Board has adopted an approval framework that governs the authorisation processes in the CSIR. It deals with, among others, the construction of strategic plans; development of operational plans and budgets; appointment of staff; approval of salaries and acquisition and disposal of assets. It also defines authority levels in relation to organisational positions. Appropriate controls are in place to ensure compliance with the above framework. A comprehensive set of procedures exists to provide the necessary checks and balances for the economical, efficient and effective use of resources. The essence of this framework is that it is comprehensive, clear and unambiguous, and easy to assimilate and internalise. Each subsidiary company’s board of directors has adopted an approval framework, which mirrors that of the 96
CSIR. All subsidiary companies are under the control of the CSIR Board and CSIR Executive Management Committee. The Board reserves to itself all matters with potential to have material impact on the operations and reputation of the CSIR. Employee participation The CSIR strongly encourages effective and modern workplace practices and relationships to foster employee participation and work process involvement as a key practice at all levels in the organisation. Employee participation happens, for example, through self-directed staff sessions; formal induction programmes; road shows; technical and strategic focus groups; and task teams. Code of ethics and organisational values The CSIR Board and CSIR Executive Management Committee have approved and adopted a code of ethics, which reflects its commitment to a policy of fair dealing and integrity in conducting its operations. The code aligns closely to the CSIR’s set of values, compliance to laws and regulations and requires all employees to maintain the highest ethical standards, ensuring that business practices are conducted in a manner which, in all reasonable circumstances, is beyond reproach. Monitoring ethical behaviour is devolved to operating unit level and transgressions are addressed by means of procedures detailed in the CSIR’s Conditions of Service and the PFMA. 97 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
Page 47 and 48: industry advanced manufacturing tec
Page 49 and 50: industry advanced manufacturing One
Page 51 and 52: With its 495 000 workers and R162 b
Page 53 and 54: 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
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Page 81 and 82: De Lange WJ, Wise RM, Forsyth GG, N
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Page 85 and 86: 405(12), p.2659-2663. Mishra SB, Mi
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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: are fairly presented in conformity
Page 101 and 102: CSIR Board Members (1 April 2010 -
Page 103 and 104: CSIR leadership team The CSIR manag
Page 105 and 106: Meetings 7 October 2010 24 March 20
Page 107 and 108: Report of the Audit and Risk Commit
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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
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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
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13 DEFERRED TAx ASSET GROUP Balance
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18 RETIREMENT BENEFITS OF EMPLOYEES
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19 REMUNERATION OF BOARD MEMBERS, D
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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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