GPW_AR_2013_Final_v10.pdf

Branch strategic management

Deviation from planned

Actual achievement 2011/12

Actual achievement 2012/13

Strategic objectives

Planned target 2012/13

Comment on deviations

target to actual achievement for 2012/13

Internal audit Monthly risk management compliance/ improvement reports

Risk management has not been formally adopted within GPW. Internal audit identi ½ es the risks as part of each audit and makes recommendations after testing of internal controls to address identi ½ ed risks The internal audit and audit committee charters for the 2011/12 were approved and for 2012/13 ½ nancial year updated and submitted to the audit committee for approval.The internal audit methodology and fraud prevention plan were tabled and approved

100% monthly risk management compliance/ improvement reports for identi ½ ed risk areas

An overall strategic and operational risk assessment was conducted. Once the risk registers are ½ nalised, the audit plan will be amended accordingly to address this indicator. However, internal audit identi ½ es the risks as part of each audit and makes recommendations after testing of internal controls to address identi ½ ed risks Internal audit policies updated and approved by the audit committee

Target achieved

Risk management compliance reports are anticipated to be generated in the coming ½ nancial year as soon as the risk registers are ½ nalised and the audit plan amended accordingly.

Updated internal audit policies

50% internal audit policies updated

Target achieved

-

by the audit committee

85

GPW ANNUAL REPORT 2012 | 2013