2018-19 Annual Report

1. RISK MANAGEMENT
The Council has put in place an Enterprise Risk Management System that looks at minimization, prevention, increased awareness, transparent evaluation and a sound mitigation of
risks facing the NHC.
The NHC manages risk in accordance with a Risk Strategy, and a Risk Register approved by Council, which is updated annually. The Risk Register is based on an annual risk assessment
conducted by the NHC`s internal auditors. The risk register, including mitigation strategies and progress with regard to implementation, is updated quarterly and presented to Council.
A Risk Management Committee is fully functional with an Independent Chairperson who is a member of the Audit and Risk Committee.
2. INTERNAL CONTROLS
Internal controls remained strong during the year under review and they were continuously strengthened through the work of the Internal Auditors and the Audit and Risk Committee.
To this end a range of financial controls and human resources polices were reviewed and approved. In addition, administrative compliance was strengthened considerably, with
improved Supply Chain Management processes and capacity with the appointment of the Supply Chain Management Officer.
3. INTERNAL AUDIT AND THE AUDIT AND RISK COMMITTEE
The Council has ensured that the NHC has an effective risk based and independent internal audit function, which is governed by an internal audit charter that adheres to the Standards
and Code of Ethics, set out by the Institute of Internal Auditors. Amongst others the Internal Auditors evaluate the NHC’s governance processes and objectively assess and report on
the effectiveness of risk management.
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