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SUN INTERNATIONAL ANNUAL REPORT ’10
102
CORPORATE GOVERNANCE REPORT CONTINUED
Principle Action Outcome
The formation of an
IT governance committee
The establishment
of a compliance function
The role of the current IT governance and
security committee was considered.
The need for a separate compliance function
was considered and Sun International’s current
compliance landscape was reviewed.
Stakeholder relationships The group had conducted extensive stakeholder
identification and mapping exercises based on
the group’s influence on stakeholders and in
turn, its stakeholders’ influence on the group.
Disclosure of the top three
paid employees
The board considered the merits and reviewed
recommendations pertaining to this principle.
The current IT governance and security
committee is to be dissolved and a new IT
governance committee is to be constituted. The
committee will include at least one independent
IT expert.
The IT governance committee is to compile an IT
charter incorporating existing standards and
frameworks, as well as the recommendations
contained in King III.
The IT governance process will be overseen by
the risk committee.
Sun International has several business functions
that are responsible for compliance including
regulatory, statutory and gaming compliance.
Accordingly, it was agreed that a separate
compliance function would not be established
and that the legal affairs director will
consolidate the various compliance reports into
an integrated report for the board.
Sun International is finalising its stakeholder
engagement processes and has commenced
with compiling a stakeholder register in order to
formalise its plans to engage with stakeholders
in furtherance of its stakeholders legitimate
expectations and interests. During the initial
exercise 26 such stakeholders were identified.
The group will consider the measurement of
certain of these stakeholders’ perceptions in
order to establish any expectation gaps.
The risk committee will undertake the function
of overseeing the process of stakeholder
identification, reviewing our stakeholder register
and engagement plans.
Given the industry and in particular Sun
International’s remuneration structure, the board
did not believe that this principle was
significantly relevant to the company.
Notwithstanding the same, the group elected to
disclose the aggregate payments to its top three
paid employees.
In determining its approach, the board will remain mindful of its responsibility to and of the interdependency and interaction between the triple ‘Ps’
(People, Planet and Profit) as the foundation for sustainable value creation, ensuring an entrepreneurial culture that identifies and operates within
acceptable risk levels and progressing transformation at all levels. The group’s commitment to these principles is further evidenced by its continued
inclusion in the JSE’s Socially Responsible Investment Index (SRI).