CCMA ANNUAL REPORT

Commission for Conciliation, Mediation and Arbitration Annual Report 2022/23

8. STATEMENT OF RESPONSIBILITY The Governing Body is required by the PFMA to maintain adequate accounting records and is responsible for the content and integrity of the Annual Financial Statements (AFS) and related financial information included in this report. It is the responsibility of the Governing Body to ensure that the financial statements fairly present the state of affairs of the CCMA as at the end of the reporting period and the results of its operations and cash flows for the period then ended. The AFS have been prepared in accordance with Standards of Generally Recognised Accounting Practice (Standards of GRAP) including any interpretations, guidelines and directives issued by the Accounting Standards Board (ASB). The AFS are based upon appropriate accounting policies consistently applied and supported by reasonable and prudent judgements and estimates. The Governing Body acknowledges that it is ultimately responsible for the system of internal controls established by the CCMA and places considerable importance on maintaining a strong control environment. To enable the Governing Body to meet these responsibilities, the Governing Body sets standards for internal controls aimed at reducing the risk of material error. The standards include the proper delegation of responsibilities within a clearly defined framework, effective accounting procedures and adequate segregation of duties to ensure an acceptable level of risk. These controls are monitored throughout the CCMA and all employees are required to maintain the highest ethical standards in ensuring the CCMA’s business is conducted in a manner that in all reasonable circumstances is above reproach. The focus of risk management in the CCMA is on identifying, assessing, managing and monitoring all known forms of risk across the CCMA. While operating risk cannot be fully eliminated, the CCMA endeavours to minimise it by ensuring that appropriate controls, systems and ethical behaviour are applied and managed within predetermined procedures and constraints. The Governing Body is of the opinion, based on the information and explanations given by management, that the system of internal controls provides reasonable assurance that the financial records may be relied on for the preparation of the AFS. However, any system of internal financial control can provide only reasonable, and not absolute assurance against material misstatement. The Governing Body has reviewed the CCMA’s cash flow forecast for the period to 31 March 2024 and, in the light of this review and the current financial position, they are satisfied that the CCMA has access to adequate resources to continue in operational existence for the foreseeable future. The CCMA is wholly dependent on the DEL for continued funding of operations. The AFS are prepared on the basis that the CCMA is a going concern and that the CCMA has neither the intention nor the need to liquidate or curtail materially the scale of the CCMA. The AFS set out on page 128 to 189, which have been prepared on the going concern basis, were approved by the Governing Body on 27 July 2023. Yours faithfully

_______________________________ ADV. CAMERON SELLO MORAJANE

______________________________ PROF. ENOS SENISE NGUTSHANE

CCMA DIRECTOR

CHAIRPERSON OF THE GOVERNING BODY

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