Page 6 - Fasset_AR_2023_E

FASSET | Annual Integrated Report 2022/23

PART C: GOVERNANCE 69

1. INTRODUCTION 70
2. PORTFOLIO COMMITTEES 71
3. EXECUTIVE AUTHORITY 71
4. THE NATIONAL SKILLS AUTHORITY 71
5. THE ACCOUNTING AUTHORITY 72
5.1 Introduction 72
5.2 The role of the Accounting Authority 72
5.3 Board Charter and Code of Conduct 72
5.4 Composition of the Accounting Authority (Board) 73
5.5 Board and Board committees 76
5.6 Remuneration of Board members 82
6. RISK MANAGEMENT 82
7. RISK MANAGEMENT COMMITTEE 83
8. Internal Audit FUNCTION 85
9. COMPLIANCE WITH LAWS AND REGULATIONS 86
10. FRAUD AND CORRUPTION 86
11. MINIMISING CONFLICT OF INTEREST 86
12. CODE OF CONDUCT 87
13. HEALTH SAFETY AND ENVIRONMENTAL ISSUES 87
14. COMPANY SECRETARY 87
15. SOCIAL RESPONSIBILITY 88
16. Audit AND RISK COMMITTEE REPORT 88
16.1 Audit and Risk Committee responsibility 88
16.2 The effectiveness of internal control 89
16.3 In-year management and monthly/Quarterly Report 90
16.4 Evaluation of Annual Financial Statements 90
16.5 Auditor’s Report 90
17. B-BBEE COMPLIANCE PERFORMANCE INFORMATION 91

PART D: HUMAN RESOURCE MANAGEMENT 93

1. HUMAN RESOURCE OVERSIGHT STATISTICS 94
1.1 Personnel-related expenditure 97
1.2 Performance rewards 97
1.3 Training 97
1.4 Employment and Vacancies 98
1.5 Employment Changes 98
1.6 Equity Target and Employment Equity Status 99

PART E: FINANCIAL INFORMATION 101

Annexure to the Auditor’s Report 109
Statement of Financial Position as at 31 March 2023 112

Make the future count.
iv |