Limpopo Gambling Board Final

Part C: Governance ................................................................................................................. 75 1. Introduction ................................................................................................................. 76 2. Portfolio Committees..........................................................................................................77 3. Executive Authority.............................................................................................................77 4. The Entity ................................................................................................................. 78 4.1 . Introduction................................................................................................................. 78 4.2. The Role of the Board................................................................................................79 4.3. Board Charter.............................................................................................................79 4.4. Composition of the Board...........................................................................................80 4.5. Audit and Risk Committee..........................................................................................83 4.6. Human Resources, Ethics and Social Committee/Human Resource and Remuneration Committee*..................................................................................84 4.7 . Compliance and Enforcement Committee.................................................................84 4.8. Remuneration Committee..........................................................................................85 4.9. Corporate Social Investment (CSI) Committee..........................................................85 4.10. Remuneration of Board Members..............................................................................86 5. Risk Management...............................................................................................................86 5.1. Nature of Risk Management......................................................................................86 5.2. Risk Management Process........................................................................................86 5.3 . Progress made in Addressing Risks Identified ........................................................... 87 6. Internal Control Unit............................................................................................................87 7. Internal Audit and Audit and Risk Committees...................................................................88 7.1. Objective and Role of Internal Audit ........................................................................... 88 7.2. Progress Report for the Year.....................................................................................88 7.3. Key Activities and Objectives of the Audit and Risk Committee ................................ 89 8. Compliance with Laws and Regulations.............................................................................91 9. Fraud and Corruption.........................................................................................................91 9.1. Whistle Blowing..........................................................................................................91 10. Minimising Conflict of Interest . ........................................................................................... 91 11. Code of Conduct.................................................................................................................92 12. Health, Safety and Environmental Issues..........................................................................92 13. Company Secretary............................................................................................................92 14. Social Responsibility...........................................................................................................92 15. Audit and Risk Committee Report......................................................................................93 15.1. Introduction................................................................................................................. 93 15.2. Audit and Risk Committee Responsibilities...............................................................93 15.3. The Effectiveness of Internal Control.........................................................................94 15.4 . In-Year Management and Monthly/Quarterly Report.................................................94 15.5. Evaluation of Financial Statements............................................................................94 15.6. Auditor’s Report . ........................................................................................................ 94 16. B-BBEE Compliance Performance Information..................................................................95

LIMPOPO GAMBLING BOARD

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