Integrated report
Profile
Scope and boundary
Organisational overview and activities
- Business model
- Assurance
- History of the group
- Group at a glance
- Location of markets
- Location of operations
- Group structure of operating companies
- Governance structure
Risks and opportunities
- Operating context
Strategic objectives
- Strategy
- Key performance indicators
Operational review and commentary
Future performance objectives
Remuneration
Financial highlights
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 Assmang’s 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 reflected in the table below: |
|||
AREA |
PROVIDER |
STANDARD(s) AND COMMENT |
|
Assore |
Assmang |
||
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 |
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 |
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 report to Assore’s Audit and Risk Committee on their findings, while in Assmang, KPMG report related findings to Assmang’s Audit Committee, supported by its Social and Ethics Committee. The Audit and Risk Committee, supported by their respective social and ethics committees (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.
