BANKSETA AR 31 AUGUST

BANKSETA GOVERNANCE STRUCTURE

(b) Accountability for meeting their specified mandates, which requires effective accountability mechanisms, proper management, control and the safeguarding of finances and resources, as well as regular and accurate performance reviews, assessments and reporting. (c) Integrity and honesty in the management of finances and resources, which require observing and promoting high standards of ethical conduct, proper execution of fiduciary duties, independence from vested interests and avoiding undue influence and conflicts of interests. (d) Transparency and openness, which require fair, transparent and accessible rules, processes and procedures; the consistent application of these rules, processes and procedures; transparent and motivated decision-making; and timely and accurate provision of information to a higher authority, stakeholders and the public. (e) Participation in the development and implementation of public policies, where appropriate, which requires the active involvement of beneficiaries, stakeholders and other affected groups in the formulation of policies and programmes; promoting ownership of policies and programmes; stakeholder commitment to their success; and consultation with, and representation on, institutional structures. (f) The capacity and resources to execute their mandate, which require appropriate selection and capacity-building to ensure that members and staff have the necessary skills, knowledge and experience.

Contravention of the Code of Conduct is treated as prescribed in the BANKSETA Constitution. No breaches of the code were recorded during 2020/21. BANKSETA recognises its accountability to all stakeholders under the legal and regulatory requirements applicable to its business and is committed to high standards of integrity and fair dealing in the conduct of its business. It is committed to complying with both the spirit and the letter of requirements and to always acting with due skill, care and diligence. BANKSETA’s efforts in meeting its primary strategic objectives will create a transformed, skilled and capable workforce to address sector strategic objectives, national strategic objectives and skills development legislation (Standard Constitution of SETA Regulations and Skills Development Act).

107

PART C: GOVERNANCE | BANKSETA ANNUAL REPORT 2021/22