GPW_AR_2013_Final_v10.pdf

125 year anniversary

PERFORMANCE REPORT

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 - continued Approved risk based internal audit plan

In the absence of a formally compiled risk register an internal audit plan

Approved risk based internal audit plan

Annual internal audit plan was developed and adopted, however due to the absence of risk assessment, the plan is not risk based.The following methods were adopted by international audit in developing the plan: - Previous years’ management report. - Consultation with management and staff - Walkthrough observations 87% of the audit plan implemented

Target partially achieved. An internal audit plan was developed despite the fact that a formal risk assessment was not completed at the start of the ½ nancial year.

An overall strategic and operational risk assessment was completed in March 2013 and will be used as a basis to develop a risk based internal audit plan for 2013/14

and not a risk based internal audit plan was completed and approved

Percentage of risk based internal audit plan implemented

83% of all audits identi ½ ed according to revised internal audit plan completed in the ½ nancial year

100% of risk based internal audit plan implemented

13% not implemented due to challenges

experienced following the

implementation of the ERP system in October 2012

Strategy to overcome areas of under performance Through the appointment of the general manager: strategic management, performance in the area of marketing will be fast tracked. Strategies have been put in place to improve relations between internal audit, management and the audit committee and any challenges by internal audit will be reported timeously to management to enable corrective actions. Changes to planned targets The target of “data rights management controls implemented” were measured quarterly through number of security breaches and number of threats detected. &VERGL ½RERGI Purpose: To provide ½ nancial management services to the GPW and its partners with professionalism and excellence, so that they achieve the overall objectives economically, ef ½ ciently and effectively, hence promoting good governance, accountability and sustainability.

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