BANKSETA ANNUAL REPORT 2023

ABOUT THIS REPORT

The framework for this annual report applies the principles of sustainability reporting espoused by the King IV Code on Corporate Governance. The annual report measures, discloses and accounts to internal and external stakeholders on organisational performance. The report is a comprehensive narrative on institutional strategies to achieve the SETA’s legislated mandate, financial information, risk reporting and institutional governance framework. Reporting Period BANKSETA is guided by its legislated mandate, the Public Finance Management Act, 1999 (Act No. 1 of 1999) and Treasury Regulations, and its reporting period for the 2022/23 financial year is in line with these. Annual Financial Statements for the 2022/23 Financial Year The Annual Financial Statements have been prepared on the historical cost basis and in accordance with the standards of Generally Recognised Accounting Practice (GRAP).

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