3. PPECB Annual Report 2009-2010

The Audit CommitteeThe Role of the CommitteeActs in accordance with the requirements set out inthe Public Finance Management Act and TreasuryRegulations.Reports to the Board and has the authority to makerecommendations.Met 3 times this year.The Executive CommitteeThe PPEC Act provides for the certain powers of the Board tobe delegated and the Board has consequently delegated itspowers pertaining to the day-to-day operations of the businessto the Chief Executive Officer. The Executive Committee assiststhe Chief Executive Officer in executing these duties.The Executive Committee meets formally every 2 weeks andadditional formal and informal meetings are scheduled onan ad hoc basis.All Executives, including the Chief Financial Officer,report to the Board through the Chief Executive Officer.Recommendations and decisions are taken in accordancewith the delegation of authority.Mr Luvuyo Mabombo is the Chief Executive Officer.The Composition of the CommitteeThe Audit Committee comprises of 3 non-executive Directors.Members of management, external and internal audit attendmeetings by invitation. Members of the external and internalaudit have unrestricted access to members of the AuditCommittee and its chairman, thereby maintaininguncompromised independence.Members of the committee and their attendance record areset out below:Member 20/5/09 26/8/09 5/3/10A RabeChairpersonCA AtkinsL VorsterPresentAbsent with apologyThe Human Resource CommitteeThe Role of the CommitteeThe Board CommitteesIn order to discharge its duties more effectively, the Board hasapproved and delegated authority for specific matters tovarious committees. These committees have been establishedto ensure that operational performance and risk managementare monitored. These committees serve under written andapproved charters, which are reviewed and updated annually.The minutes of all Board committee meetings are presentedto the Board for information.Specific responsibilities are delegated to the followingcommittees to support the functioning of the Board:Audit CommitteeHuman Resource CommitteeRisk Management CommitteeReviews all aspects relating to human resources.Monitors compliance with the relevant employmentand labour legislation.Met 4 times this year.Members of the committee and their attendance record areset out below:Member 20/5/09 26/8/09 26/11/09 10/3/10HP BooysenChairpersonE AlexanderA RabePresentAbsent with apologyPPECB | annual report | 2009 - 2010 59