CGE ANNUAL REPORT

2022/23 ANNUAL REPORT

Administration on the implementation and execution of decisions taken by the Governing Body 1 . What the discussion above means is that other than the authority of a duly constituted Plenary and/or its related structures, through which Commissioners are empowered to exercise their oversight functions and accountability enforcement responsibilities (as outlined in terms of the CGE ACT and King IV™ Principles), the PFMA gives only the Chairperson of the CGE, as the Executive Authority, a set of clearly defined responsibilities that are consistent with the objectives of the PFMA. 1.1. S ummary of Roles and Responsibilities of CGE Governing Body as per King IV ™ Principles of Good Governance As indicated in Section 4.2 above, the King IV™ Code provides a set of Principles (17 of which are applicable to the CGE) accompanied by 208 recommended practices that should assist the Governing Body and the organisation in achieving the governance outcomes intended by these Codes and the accompanying recommended practices. The graphic below gives a summarised account/illustration of the functions and responsibilities of the members of the Governing Body in line with the King IV™ Principles and code of practice for good governance:

Governing Body Responsibilities

Oversight

Strategy

Accountability

Policy

16 Principles and many recommended practices

Outcomes

Good Performance

Legitimacy

Effective Control

Ethical Culture

1 King IV ™ defines ‘independence’ as “the exercise of objective, unfettered judgement. It further adds that ‘when used as a measure by which to judge the appearance of independence, or to categorise a non-executive member of the governing body or its committees as independent, it means the absence of an interest, position, association, or relationship which, when judged from the perspective of a reasonable and informed third party, is likely to influence or cause bias in decision-making.

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