BANKSETA AR 31 AUGUST

BANKSETA GOVERNANCE STRUCTURE

Internal Audit coverage for 2021/22 (aligned to the rolling three-year strategic internal audit plan and outcomes of the risk assessment) encompassed the following: • Follow-up on Internal Audit and Auditor-General findings • Annual Financial Statements quality review • Annual Performance Report • Commitments – Final • Information Technology - Cyber Security Review • Protection of Personal Information (POPI) Act Compliance Review • Financial Discipline (including Travel expenditure & Investments) • Information Technology: General Controls (ITGC) • Performance Bonus Review (outsourced) • Supply Chain Management (including Contract Management) • Commitments – Interim • Performance Information • Mandatory grants and revenue • Annual Performance Plan and Strategic Plan (APP & SP) • Discretionary Grants (including site visits) • Risk Management • HR and Payroll (including consequence management) • Performance Audit • Information Technology – Governance Review • Quality Assurance Management review (business unit within BANKSETA) • Governance and Compliance • Ad Hoc Activities (budget used for Risk Management Review) BANKSETA ensures that it complies with laws and regulations through its governance structure and senior management responsibilities, in accordance with its mandate and as formally communicated by the Executive Authority and National Treasury. It has developed a compliance framework for submissions aligned to the Executive Authority compliance calendar and a Compliance Strategy and Plan to ensure consistent focus on compliance. During the 2021/22 financial year, there were no significant changes to legislation nor regulations applicable to the SETA.

BANKSETA is also required to report on the disclosure of information in terms of the Promotion of Access to Information Act 2 of 2000.

Minimising Conflict of Interest

Formal declarations of interests are noted and records kept in accordance with Board and committee meeting requirements as well as for supply chain management activities to ensure that conflict of

interest is minimised. Code of Conduct

BANKSETA adheres strictly to the Code of Conduct in its Constitution: (1) All members of the Accounting Authority and any committee established by the Accounting Authority are subject to this Code of Conduct and are required to comply with both the letter and the spirit thereof. (2) Members of the Accounting Authority and any committee established by the Accounting Authority: (a) Stand in a fiduciary relationship to the SETA; (b) Must comply with all the applicable laws and regulations that regulate the activities they are engaged in for and on behalf of the SETA; (c) Must perform their functions fairly, honestly and in good faith, giving full effect to the obligations and spirit of the Skills Development Act and the Constitution; (d) Must protect and promote the reputation of the SETA and promote goodwill towards it; (e) Must perform their duties conscientiously and in the best interest of the SETA; and (f) Conduct themselves ethically and in accordance with the principles of good governance. (3) To ensure the proper execution of its mandate and effective compliance with the applicable legislative and policy framework, the Accounting Authority must ensure that the staff of the SETA and members of all committees adhere to the following principles of governance: (a) Effectiveness and efficiency in the execution of their specified mandates, which require clearly formulated purpose statements, objectives, roles and responsibilities.

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PART C: GOVERNANCE | BANKSETA ANNUAL REPORT 2021/22