SACAA Annual Report 2022_23

PART C I Governance

No. Outcome

Principle

Application

Governance Instrument

Status

• Board Charter • Delegation

The Board is the custodian of corporate governance across the SACAA. The delegation of authority framework is approved by the Board and reviewed annually. The approved framework and authority levels are implemented throughout the SACAA. Policies are developed and implemented at the operational level of the SACAA. The entity also applies the PFMA and National Treasury regulations and guidelines in terms of investments. An Investment Policy is in place, aligned to these prescripts.

17.

Responsibility of Institutional Shareholders

The governing body of an institutional investor organisation should ensure

of Authority Framework

• Board

Performance Agreement

responsible investment.

Table 19: Board Application of King IV™ Principles In this reporting period, the Board concerned itself with the following: • Review of the five-year Strategic Plan. • Consideration and approval of the Annual Performance Plan 2023/2024. • Review and submission of the Mid-Term Progress Report to the Executive Authority, the Department of Performance Monitoring and Evaluation. • Finalisation of the Strategic Risk Register for 2023/24. • Monitoring of the entity’s performance against the approved annual targets as per the Annual Performance Plan 2022/23. • Approval of the following Strategies and Frameworks: -- Human Resources Operational Plan -- Risk Plan

• Increased stakeholder value through oversight over the implementation of the previously approved Stakeholder Management Strategy. • Oversight over the following key projects: Enterprise Business System, Electronic Document & Records Management System and Relocation of the SACAA Head Office. • The Board successfully held its Annual General Meeting on 19 October 2022 virtually, and all the resolutions tabled were endorsed by the Executive Authority. • The Board also submitted its Performance Agreement to the Minister of Transport in March 2023, and it was duly approved. • The Board Charter and all Committee Terms of Reference were reviewed during the year. • Reviewing of various policies, frameworks, and strategies, including the Delegation of Authority. The Board has adopted a stakeholder-inclusive model, wherein the interests of all stakeholders are considered in developing and implementing the SACAA Strategy, including the Annual Performance Plan. Building and protecting stakeholder trust has

-- Combined Assurance Plan -- Ethics Implementation Plan -- Ethics Framework -- ICT Strategy

104 I Annual Report 2022/23 I Governance