SACAA Annual Report 2022_23

PART F I Annual Financial Statements Annual Financial Statements for the year ended 31 March 2023 Accounting Authority’s Report

6. Accounting Authority The Board of the SACAA during the year and to the date of this report are as follows: Name Mr E Khosa (Chairperson) Reappointed 01 June 2022 Mr S Sooklal Reappointed 01 June 2022 Ms T Phewa Reappointed 01 June 2022 Ms GB Koyana Reappointed 01 June 2022 Mr T Peege Appointed 23 June 2023 Adv M Lebakeng Appointed 23 June 2023 Ms GNB Khoza Reappointed 01 December 2018 Prof NV Dyani Mhango Reappointed 01 December 2018 (Retired 31 May 2022) Mr MG India Reappointed 01 December 2018 (Retired 31 May 2022) 7. Company Secretary The secretary of the SACAA is Ms N Naraindath of: Business address Ikhaya Lokundiza Building 16, Treur Close Waterfall Park, Bekker Street Midrand 1685 Postal address Private Bag X73 Halfway House 1685 8. Interest of board members The Board members have, at each Board meeting, confirmed that they had no material personal interests in any transactions of any significance with the SACAA. The Board members are required to sign a declaration of interest at every meeting attended. In addition, they are required to declare any interests in contracts annually. Accordingly, no conflict of interest with regard to directors’ interests in contracts was reported. There was no change in

directors’ interests in contracts in the period between the financial year end and the date of signature of this report. 9. Corporate governance General The Board is committed to business integrity, transparency and professionalism in all its activities. As part of this commitment, the Board supports the highest standards of corporate governance and the ongoing development of best practice. The Board confirms and acknowledges its responsibility to apply the principles set out in the King IV Report on Corporate Governance for South Africa 2016. The Board discusses the responsibilities of management in this respect at Board meetings and monitors the SACAA’s compliance with the relevant legislative prescripts. The salient features of the SACAA’s adoption of King IV are outlined below: Board of directors The Board is committed to business integrity, transparency and professionalism in all its activities. As part of this commitment, the Board: • Retains full control over the SACAA, its plans and strategy; • Acknowledges its responsibilities as to strategy, compliance with internal policies, external laws and regulations, effective risk management and performance measurement, transparency and effective communication both internally and externally by the SACAA; • Is of a unitary structure comprising: ** five (5) non-executive directors, all of whom are independent directors as defined in King IV

176 I Annual Report 2022/23 I Annual Financial Statements