integrated

Directors’ responsibility statement / Intergrated Annual Report
 

Directors’ responsibility statement

The directors of the Company are responsible for the maintenance of adequate accounting records and preparation of the annual financial statements and related information in a manner that fairly presents the state of affairs of the Company. These annual financial statements are prepared in accordance with IFRS and incorporate full and responsible disclosure in line with the accounting policies of the Group which are supported by prudent judgements and estimates.

The annual financial statements have been prepared under the supervision of the chief financial officer, Ms B Berlin, CA(SA).

The directors are also responsible for the maintenance of effective systems of internal control which are based on established organisational structure and procedures. These systems are designed to provide reasonable assurance as to the reliability of the annual financial statements, and to prevent and detect material misstatement and loss.

Based on the results of a formal documented review of the Company’s system of internal controls and risk management, covering both the adequacy in design and effectiveness in implementation performed by the internal audit function during theyear 2013, the board of directors has considered:
  • The information and explanations provided by line management
  • Discussions held with the external auditors on the results of the year-end audit
  • The assessment by the audit committee and the risk committee.

Nothing has come to the attention of the board that caused it to believe that the Company’s system of internal controls and risk management are not effective and that the internal financial controls do not form a sound basis for the preparation of reliable financial statements. The board’s opinion is underpinned by the audit committee’s statement.

The summary consolidated financial statements have therefore been prepared on a going-concern basis and the directors believe that the Company and the Group will continue to be in operation in the foreseeable future.

The summary consolidated financial statements as set out here, have been approved by the board of directors and are signed on its behalf by:

KDK Mokhele TP Goodlace
Chairman Chief executive officer

29 August 2013

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