Integrated report
Profile
Organisational overview and activities
- Business model
- Assurance
- History of the group
- Group at a glance
- Group structure of operating companies
- Location of operations
- Governance structure
Risks and opportunities
- Operating context
Strategic objectives
- Strategy
- Key performance indicators
Organisational performance
- Financial highlights
- Operational review and commentary
Future performance objectives
Remuneration
Organisational overview and activities
Assurance
The Assore group subscribes to a combined assurance model, which attempts to limit or control risks inherent in the business of the group by making use of assurance providers, both third party and in-house, in conjunction with Assmangs Risk Management department (referred to as internal management). Assurance is addressed across the areas of:
collectively referred to as SHREQ, and the assurance provided is re ected in the table below:
AREA | ASSORE | ASSMANG | STANDARD(S) AND COMMENT |
Provider | Provider | ||
Safety and Health | Environmental Resource Management Southern Africa (Proprietary) Limited (ERM) | Internal management and Sustainability Services CC (Sustainability Services) | Per provider and the Department of Mineral Resources (DMR). Limited assurance for Assore is provided in the form of bi-annual audits on legal compliance. Assmang has received assurance on specified elements of Safety and Health from Sustainability Services |
---|---|---|---|
Risk | Sizwe Ntsaluba Gobodo | KPMG | COSO framework |
Environment | ERM and TUV Rheinland Inspection Services (Proprietary) Limited (TUV Rheinland) | Internal management | ISO 14001 (2004). Limited assurance for Assore is provided in the form of bi-annual audits on legal compliance by ERM and certification by TUV Rheinland. Assmang has received assurance on specified elements of Safety and Health from Sustainability Services |
Quality | TUV Rheinland | Internal management | ISO 9001 (2008). Limited assurance for Assore is provided in the form of certification by TUV Rheinland |
Assurance pertaining to financial controls and reporting is achieved by conducting extensive internal auditing across the Assore group by Sizwe Ntsaluba Gobodo, who reports to Assores Audit and Risk Committee on their findings, while in Assmang, KPMG reports related findings to Assmangs Audit and Risk Committee. The Audit and Risk Committee (in Assmang, the Audit Committee) ensures a close working relationship between external audit and internal audit, to ensure that the assurance provided by Ernst & Young, for both Assmang and the Assore group, on their respective financial statements provides reasonable assurance for the external audit opinion.