Brand-South Africa - Annual report 2015 - 2016

and south africa Annual Report 2015/2016
Risk management
Risks pertaining to the business of Brand South Africa are managed in accordance with the Public Finance Management Act, Act No.1 of 1999, as amended. A Risk Management Strategy and
Risk Materiality Framework to ensure that all risks kept at an acceptable level.
During the reporting period, Brand South Africa conducted several operational risk assessments and reviewed the Risk Management Strategy and Risk Materiality Framework accordingly. All
compliance assessments were conducted in terms of the National Treasury Regulations of 2005 and the PFMA. A Regulatory Compliance Checklist was developed and monitored throughout
the year to ascertain the extent of the organisation’s compliance with its regulatory universe.
Fraud and unethical conduct
Through its Whistle-blowing Policy, Brand South Africa encourages employees to report acts of fraud, dishonesty and any other forms of unethical behaviour in accordance with the Protected
Disclosures Act, Act No. 26 of 2000 and the Companies Act, Act No. 71 of 2008. Employees are constantly encouraged to use the whistle-blowing hotline and are assured that they would not
suffer any form of victimisation as a result. No reports were received from the independent administrators of the hotline during the year under review.
Minimising conflicts of interest
Trustees have a duty to disclose their personal interests in any of the items that are on the agenda at Board meetings, and there were no conflicts of interest recorded during the reporting
year. In addition, they submit annual declarations of interest. No breaches of governance procedures were recorded during 2015/16.
Code of Conduct
The Brand South Africa trustees remain committed to achieving high standards of business integrity and ethics across all activities. To this end, the Board has a Code of Conduct, which among other things,
sets out the required standard of conduct expected of trustees, how to deal with dissent, and how to manage conflicts of interest, expected disclosures and the management of external appointments.
The Board is committed to maintaining a high standard of corporate governance, and issues of good governance will continue to receive the best attention of the Board, its committees as well as
executive management in the coming year.
Board Secretary
The Director: Governance, Legal and Board Secretariat serves as the Board Secretary and is responsible for ensuring the proper conduct of Board meetings and for providing support and
guidance to the Board on matters relating to governance, legislation, compliance and ethics. His function includes the preparation and circulation of Board papers and minutes of meetings,
ensuring that feedback is provided to the Board and its committees, making trustees aware of laws and legislation relevant to or affecting the organisation, and ensuring proper storage of
Brand South Africa’s important records.
Furthermore, the Board Secretary has certain statutory duties to perform in terms of the Companies Act, Act No. 71 of 2008, and other regulations. The Chairperson and all trustees have
unrestricted access to the services of the Board Secretary.
The Board Secretary ensures that Brand South Africa’s processes and practices are reviewed and benchmarked on an ongoing basis to ensure compliance with local and international legal obligations.
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